Wingspan Portfolio Advisors, a Dallas-based diversified mortgage services company, has announced a multi-million dollar capital infusion from its stockholder investor group. Simultaneously with the capital infusion, the company announced it has divested itself of Dimont & Associates, the insurance claims management firm it acquired in May 2013. Also, some management has been shifted. Here’s the news:
Wingspan also announced that Wingspan Executive Vice President of National Operations Jason Spooner has been named as president. Spooner has more than 20 years of mortgage industry experience, including leadership roles at Bank of America, Sun Trust, and Wells Fargo. Spooner joined Wingspan in 2012 to manage national operations, and as president, he will also oversee the company’s daily operations.
Wingspan’s Founder, CEO and President Steven Horne has moved to a senior advisor position.
“We have just finalized a significant strategic transaction with an investor group and we are now debt free,” said Horne. “The transaction will give Wingspan a stronger financial foundation than we have ever had and further enhances our ability to deliver exceptional service to our clients.”
“As the company’s founder, I am excited by the opportunities ahead for Wingspan,” continued Horne. “Over the past year, like many other companies in the servicing industry, Wingspan has experienced a fair degree of turbulence as the industry is successfully transitioning out of the default crisis. Wingspan has diversified its services and aligned its workforce accordingly. With the closing of this strategic transaction, we have secured the financial support we need to continue as the leader in component servicing and outsourcing solutions,” he said.
“With our new leadership team and a capital infusion from our stockholders, we are now in an even stronger position to meet the needs of our clients going forward,” stated Spooner. “Our operational excellence, culture of compliance and true subject matter expertise will enable Wingspan to better serve our clients as the industry continues to rapidly evolve.”