Wingspan Gets Capital, Divests Some Holdings

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.”

Technology Puts The “Special” In Specialty Servicing

You Can Download This Full Article As A PDF HERE

Jason-SpoonerTechnology is pervasive in modern life. Our love/hate relationship with it means that we constantly poke fun at the machines that both run our lives and make them easier. But there is little doubt that technologies like smartphones and social media are here to stay, and their impact on society is profound. The machines seem to be taking over our lives, particularly as we see teenagers with their faces buried in the screens of mobile devices, oblivious to the world around them as they instantaneously (and ironically) communicate with hundreds of people on Twitter and Instagram.

Still, there are remarkable examples of how technology and human effort work together to accomplish great things, and the special/component servicing business sees them every day. Without technology, many more families would have suffered the nightmare of foreclosure during the mortgage crisis. Indeed, the recovery would have been even slower than its already disappointing pace. In many ways, technology puts the “special” in special servicing – but it needs able human users to realize its full potential.

About a hundred years ago, author and philosopher Elbert Hubbard wrote, “One machine can do the work of fifty ordinary men. No machine can do the work of one extraordinary man.” The servicing industry’s approach to the rising tide of mortgage delinquencies in the latter years of the last decade was to use ordinary measures, because that’s all that was available to them at the time. The prevailing technology was basic and designed to handle occasional delinquencies, not waves of them. When delinquencies mounted, the technology couldn’t keep up, and the results were far from satisfactory.

When Wingspan Portfolio Advisors came on the scene in 2008, it brought with it not only a new servicing approach; it also adopted a new technology approach that had distinct advantages over other designs. Using a central data warehouse, for example, had the benefits of having a place for everything and everything in one place. Most of the traditional servicing legacy systems consisted of multiple data repositories and added-on layers of software that bridged gaps created in mergers and acquisitions over time. Many still do. Without legacy systems to contend with, Wingspan has been able to implement its high-touch methods with unfettered efficiency. Our technology approach has also empowered a formidable resource: the individual loan resolution specialist.

A highly trained person armed with effective methodology is a game-changer. Give them the tools and empower them with the authority to act, and they will amaze you with their achievements. Finding people who are empathetic, smart and eager to find solutions is the key to success in the industry’s most difficult segment, and great technology can never replace them. Instead, it enables them to succeed by putting the information they require at their fingertips.

There are five main reasons technology and special/component servicing go together like words and music:

Everything needs to be accessible. When working with distressed borrowers, it is sometimes difficult to get them on the phone, so when you do, you need to maximize the opportunity. Technology can betray you here: people beset by collection agents recognize the delay when they answer the phone as an auto dialer in use. We don’t use them because the last thing we want to do is seem like a bill collector. When we initiate a call, we want to make it meaningful, nonthreatening and productive, and our technology puts all the borrower’s information on the specialist’s screen to call upon as needed.

Everything needs to be immediate. We want to accomplish as much as possible with each conversation, so our information has to be current and immediately available, whether it has to do with payment histories, property values or credit ratings. We often have to reference property trends in the borrower’s area in order to point out positive improvements that are occurring. Having access to the most up-to-date information can mean the difference between success and failure in obtaining lasting and sustainable loan modifications. Sometimes the information that can help comes from a non-obvious source, such as a recent news story about a new assembly plant or factory opening up in the area, one that will drive jobs and housing demand. All kinds of information can affect success in handling distressed loans, and it has to be current.

People won’t make decisions without data. People make emotional, impulsive decisions all the time, but it is rare in our business that commitments will be made without data to back them up. For example, it is true that people have highly emotional investments in their homes that have nothing to do with finance. This is incredibly important, something Wingspan’s methodology calls “psychological equity.” While our experience has shown us that it is a main driver in understanding why and how much a borrower wants to keep the family home, it needs to be backed up with data from the loan resolution specialist. If they can accurately portray the area as seeing positive signs for stabilizing values in the foreseeable future, a negative equity default can be modified with a workable payment plan. Without good data to back up the commitment to stay, the transaction has far less of a chance. Another example might be access to information that helps foster a discussion on how costly rentals will be versus staying in the home. Most families want the single-family home lifestyle, and with the right data on hand, comparisons can be made available during a call that can produce a positive outcome.

People need time. In our experience, you simply cannot rush a process that is highly charged with both emotion and long-term financial repercussions. Whether dealing with outbound or inbound calls, we never hurry the conversations and have learned that the longer we’re able to talk with borrowers, the greater the levels of trust that can be established. This was a radical approach when Wingspan started, and perhaps the one most in conflict with traditional servicing models. For special and component servicers, it is less a numbers game than it is one of depth; superficial calls, where empathy is sacrificed for time, are harmful to our cause. The more information we have available for each contact via our technology, the greater our chances for having long and productive phone calls. We take great pains to establish early on that we are not calling to nag borrowers, but rather are seeking to find ways to keep them in their homes. Once we learn enough about their economic realities and their non-financial investments in the home, we can make real progress in retention efforts. This takes talent, patience, empathy and time – supported by information and the technology to deliver it where it is most needed.

Technology enables empowerment, and empowerment leads to success. This is not what the techies call a “squishy” concept that hinges on something from a motivational speech. The empowerment here means that the “boots on the ground” who work directly with borrowers need to be able to make decisions on the spot. Our technology makes this happen by creating economic scenarios for borrowers that are pre-approved within investor parameters, therefore requiring minimal steps before creating executable agreements. Consider this example: a borrower is defaulting because of a job interruption, but is training for a new career while working one or more part time jobs. Consistent income is established that is realistically sustainable, and with other sacrifices that would support property taxes and insurance, the amount falls within investor minimums. The resolution specialist can send an electronic document that can be e-signed immediately while on the phone and returned. A commitment is executed without the doubt and waffling that always seems to occur when a mail or courier-involved time lag is necessary. The right technology and approach include the ability to empower the person closest to the transaction to create positive results.

These days, few things are possible without technology; more often it seems that everything is possible with great technology. While futurists will have us believe that machines will be doing everything for us one day, it is more probable that for the really hard things, knowledgeable professionals will remain in the driver’s seat. Actual driving may be different – if you believe Google, it will be doing that for us. But using Google to access data that live people need to help families stay in their homes will not be changing anytime soon.

Technology is doing something else for special servicers, too, at least for Wingspan Portfolio Advisors. Where once we were best described as “special and component servicers,” we are more accurately described today as a “diversified industry outsource provider.” This has been an evolutionary step that was facilitated by technology as well as methodology. It made great sense for many banks and servicers to expand their use of our resources into other areas, particularly as their own needs changed and it was less advantageous to keep large staffs. For about 800 of these staff members who migrated to Wingspan over the last year, their roles changed little and their employment was uninterrupted.

How does this sort of adaptive scalability work in the real world? Actually, it worked seamlessly, thanks to our technology. Fifty machines may not be able to do the work of one extraordinary person, as Elbert Hubbard said, but when you put great machines together with great people, the results are nothing short of amazing.

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Mortgage Company Gets Honors

Wingspan Portfolio Advisors, a Dallas-based diversified mortgage services provider, has been named once again to the Inc. 500 list of America’s fastest growing private companies for 2014, recognizing its outstanding revenue growth over the past three years.  It is the second year in a row that the company has been named to the Inc. 500.

Measured by three-year revenue growth, Wingspan achieved the #23 spot in 2013, reflecting a year of acquisition and expansion that saw the company double in size and grow its footprint with new locations in four states. For the 2014 award period, Wingspan experienced 1,442.2 percent revenue growth, earning it the #322 position among the Inc. 500. In a statement announcing the 2014 list, Inc. said, “Our annual ranking of America’s fastest-growing private companies proves that even without tailwinds from the overall economy, some companies can achieve impressive acceleration.”

Founded in 2008 by Steven Horne, Wingspan Portfolio Advisors provides a broad range of business process outsourcing services, including default servicing, complaint resolution, compliance oversight, loan modifications underwriting, along with other customized services for the mortgage industry. “Last year was another year of growth for Wingspan, and we are delighted to once again make the Inc. 500 list of companies,” said Horne. “Our role in the industry has expanded and we are constantly looking for ways to add value for investors, servicers and lenders, leveraging our talented team of professionals and our 21st century technology. I look forward to seeing this prestigious award in the company trophy case,” he said.

The Inc. 500|5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this list of the nation’s most successful private companies has become a hallmark of entrepreneurial success. The list debuted in 1981 as a ranking of the 100 fastest-growing private companies in the U.S. The following year, it expanded to the Inc. 500 and, in 2007, the Inc. 5000 was introduced. Through each evolution, Inc. magazine has sought to celebrate the creativity, dedication, and hard work of entrepreneurs and their crucial contribution to American prosperity.

Creative Alliances Form

Changing market conditions have caused many to think outside of the box. As a result, some very creative partnerships are forming. For example, Wingspan Portfolio Advisors has forged a permanent partnership with the residential mortgage secondary market, and it is one made more important by the increased influence of regulatory concerns, according to Wingspan CEO and President Steven Horne. Here’s why:

“In years past, our industry segment was mainly involved in handling defaulted loans and performing other special servicing functions for lenders and servicers,” Horne says. “These days, we do many more things for the industry, and there are comparatively few companies in our business that can compete at the higher level required in terms of capabilities and financial strength,” he notes. “This had led to a new alliance with the secondary market, one that I believe is permanent by virtue of adding value for investors.”

Horne explains that investors, particularly those in the private sector, want two things as they look at bringing their capital back to the mortgage industry: yields and security. While low interest rates are keeping yields down to levels that have left investors unimpressed, mortgage investments are safer and more secure than at virtually any time in the past.

“In addition to greater scrutiny at loan creation, today’s loans have several servicing layers to support the process and add protections that weren’t there during the mortgage crisis,” Horne observes. “And that’s where our business comes in. Our high-touch approach and default servicing expertise provide a very strong wall of defense for investors, and we are paid for success, keeping incentives aligned and costs low,” says Horne. “The secondary market now has us as a powerful ally, knowing that servicers are completely supported if problems arise and making mortgage investments safer than ever.”

Wingspan Portfolio Advisors grew substantially in 2013 through the acquisition of servicing and customer service facilities from JPMorgan Chase and other purchases that brought them to more than 2,000 employees in Texas, California, Colorado, Louisiana and Florida, and vastly expanded their capabilities. “Companies like ours must be licensed everywhere, be fully compliant with all regulators, and possess great legal expertise as well as extensive technology and financial resources. Additionally, we provide outsourcing in multiple areas and consulting services across most lending and servicing functions,” Horne says. “The regulatory era that is upon us has created a ‘New Normal’ for our business, and we have become permanently partnered with lenders, servicers and investors for the benefit of all in the industry.”

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Wingspan Honors Our Veterans

We learned today that Wingspan Portfolio Advisors is partnering with the Sooner Legends Inn and Suites to host a free viewing of “The Hornet’s Nest” documentary for veterans, active duty military and their families and the local community. The screening will be held in Oklahoma City on Thursday, May 8, 2014 at 7:00 p.m. at the Moore Warren Theatre.  The event also honors the University of Oklahoma’s School of Journalism’s own Mike Boettcher, the Peabody and Emmy Award-winning ABC News Journalist and Boomer Sooner Legend. Admission is complimentary on a first come, first served basis, and seating is limited. A question and answer session with the filmmakers and members of the military will follow immediately after the screening.

“The Hornet’s Nest” follows ABC News Correspondent Mike Boettcher and his son Carlos Boettcher, who were armed only with their cameras when they were embedded with U.S. forces fighting on the front lines in Afghanistan amid the constant threat of the Taliban. The film tells a true story of survival for the soldiers, and for the father and son team who seek to re-connect under the most harrowing of circumstances.

WHAT: Screening of “The Hornet’s Nest” documentary for veterans, active duty military and families, and community members, plus a Q&A session with the filmmakers and members of the military

WHEN: Thursday, May 8, 2014at 7:00 pm (First come, first serve)

WHERE: Moore Warren Theatre, 1000 South Telephone Road, Oklahoma City

COST: Free

In a joint statement, “The Hornet’s Nest” Co-Directors/Producers Christian Tureaud and David Salzberg comment, “It is truly an honor to team up with Wingspan for this free screening of ‘The Hornet’s Nest.’ We are thrilled to give audiences a sneak peak at this inspiring first-hand account of what’s happening in Afghanistan. This film gives you a never-before seen look at the sacrifices, patriotism and dedication our troops face every day in battle.”

“We’ve heard from so many of our service men and women across the country how inspiring this film is and we can’t wait to share it with Oklahoma City,” add Tureaud and Salzberg. “The film opens your eyes through a non-political perspective, and people come out of the experience saying ‘How can we help?’”

After the “talk back” question and answer session with the filmmakers and members of the military, there will also be a presentation from the Mortgage Bankers Association (MBA) and Wingspan Gives Back to welcome Provest LLC Executive Vice President Victor Draper as a new member of the “Hall of Honor,” which recognizes individual and corporate support for the military community on local and national levels.

“We cannot overstate the debt of gratitude our nation owes to the heroic men and women of the military,” says Steven Horne, CEO and president of Wingspan, which has sponsored several screenings of the film around the country. “These community screenings help recognize the hardships they endure and the sacrifices they make to protect our nation. They are a core part of our American family, and it is important for us to have a better understanding of what they have experienced to ensure our freedom.”

“We at Sooner Legends Inn & Suites are so proud to honor Mike Boettcher, OU School of Journalism Professor and Boomer Sooner Legend, by serving as founders of the Hall of Honor,” adds Jay Jacobs of Sooner Legends Inn & Suites. “To be able to take part in sharing the brave story of our nation’s heroes that Mike and his son captured is indeed an honor. We are proud to serve our soldiers in this small way and want to convey our gratitude for all they have done and sacrificed.”

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Outwitting The “Black Swan”

The idea of unexpected events having great impact on future history is not a new one. The 2nd century Roman satirist Juvenal coined the phrase “black swan” to depict something unusual and rare (in his case, he was pessimistically describing the rarity of “a good person”). It was a common expression for something highly improbable as far back as the Renaissance. In business, it refers to an event that is disruptive or even potentially catastrophic, and is perfectly descriptive of the mortgage industry’s experiences since 2008.

The mortgage meltdown was improbable, rare and cataclysmic, a black swan trifecta. And it led directly to the CFPB changes the industry is presently in the process of implementing; once the black swan appears, the rules change and a new reality emerges. Dealing with the industry’s lack of preparation is ushering in a new era of regulation, and it indirectly centers on mortgage technology.

Recall the early days of the foreclosure crisis and the “blanket mod/one size fits all” approach that big servicers first employed as a strategy to deal with regulator demands. Untold millions were spent in the often-fruitless process. The lesson learned is that high-touch, customized solutions work and that generic processes are an extreme waste of time. The special strategies that have evolved feature diverse component services providers – and excellent technology.

Wingspan Portfolio Advisors is a prime example. When we commenced operations in 2008, it was with an emphasis on high-touch methodology and technology developed specifically for the purpose of delivering it. A centralized data warehouse and specialized default management software platform served the individual loan resolution consultants with detailed information they could use to make pre-allowed decisions on modifications, for instance. At a time when others without such technology needed to go back and forth with traumatized borrowers (and similarly traumatized investors), we were able to make lasting decisions with consistent speed. Another key to success was the luxury of taking large amounts of time to establish trust and rapport with borrowers, leveraging our proven methods as enabled by the advanced technology approach. The high success rate achieved allowed us to offer a pricing model that rewarded positive results rather than passing costs through to servicers. Understandably, this factor was very popular with high volume servicers and had much to do with establishing the relationships we enjoy today as an essential strategic partner with large servicing organizations.

Today’s diversified component services providers are not solely for overflow, nor are they simply outsources for extraordinary circumstances, like black swan events. They are part of the post-meltdown reality in which mortgage servicers no longer have to be all things to all people, but instead can do what they do best – work with the vast majority of loans that pay as agreed. Component services providers are integral to the primary solution now with the less typical loans, and while servicers are outsourcing more work these days, the outsourcing is done to far fewer and much larger companies than before.

Five years ago, companies could enter the special servicing space with comparatively few resources; today, the barriers to entry are immense. These 21st century companies have significant financial resources, are technologically sophisticated, and possess well-tested infrastructures in systems, legal and all other aspects of servicing. They have bulletproof processes for every step in each of the functions they perform, allowing seamless compliance with CFPB and other requirements servicers face in the current regulatory environment.

Technology is not the answer, in and of itself, but it is the enabler. Without the right technology, the right methodology is virtually impossible to implement economically, regardless of how well it is conceived.  Technology makes optimal execution possible, and it is an inherent quality of the successful modern component services provider as we strive to outwit that clever black swan.

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New Due Diligence Arm Forms

*New Due Diligence Arm Forms*
**By Tony Garritano**

TonyG***Wingspan Portfolio Advisors, a Dallas-based diversified mortgage services provider, has launched its due diligence, servicer surveillance and high-touch default advisory services arm from out of its new Denver, Colorado office. The new office and management team will significantly enhance Wingspan’s capabilities in these industry service sectors, which are becoming increasingly critical for lenders and servicers in the demanding regulatory environment.

****The Denver addition is the latest in a busy expansion year for Wingspan. In February, the company acquired the JPMorgan Chase servicing facility in Melbourne, Florida, and in May, it purchased San Diego and Dallas-based insurance claims management firm Dimont & Associates. Last month, Wingspan acquired a 400-person customer service facility from JPMorgan Chase in Monroe, Louisiana. Wingspan has grown to more than 2,000 employees in 2013 with these new additions and has substantially diversified its capabilities for the mortgage industry.

****The new Wingspan Denver offices will provide due diligence, forensic file review, valuation services, single-family rental oversight, as well as a full range of default and post-acquisition support services on a national basis. Ryan Lilly, one of the founders and former president of AMRE Solutions, will lead the expansion of this division and has been named senior vice president for Wingspan Portfolio Advisors.

****“With this addition, Wingspan now has offices in Texas, Florida, Louisiana, California and Colorado,” says Wingspan Portfolio Advisors CEO and President Steven Horne. “Our servicers and investors benefit from a full range of services for all their distressed loans and REO, along with complete loan fulfillment and other capabilities through Wingspan Lender Services. Wingspan clients now have all of the key resources they need for every aspect of their businesses and no longer have to worry about scaling up or down for volume fluctuations, with all of the attendant costs,” Horne notes. “We’ve got them covered.”

****“Wingspan is the perfect environment for our due diligence services,” says Lilly. “Our diligence platform was built to be the best at its business, whether in foreclosure management, rental oversight, due diligence, underwriting support and valuation, or in related technology. We are proud to now become an integral part of the industry’s best provider of diversified services for lenders, investors and mortgage servicers, bringing our special expertise to Wingspan’s impressive array of offerings.” Continues Lilly, “With continued delays in foreclosure timelines and an increase in secondary market activity, Wingspan is poised to offer traditional support along with innovative loss mitigation strategies. The Denver team looks forward to playing an essential role in Wingspan’s remarkable success story.”

Let’s Play Some Golf

*Let’s Play Some Golf*
**By Tony Garritano**

TonyG***Wingspan Portfolio Advisors, a Dallas-based diversified mortgage services provider, has announced a two-day charity golf tournament, exclusive VIP movie screening, and private concert event featuring five-time Grammy Award Winner Wynonna Judd for this coming October. The Wingspan-sponsored “Heroes & Hope” event, with appearances by Dallas Cowboys legend Roger Staubach and NFL greats Tim Brown and Darren Woodson, will kick off with a private concert event with Wynonna Judd at the Westin Stonebriar in Frisco, Texas, at 7:00 p.m. on Monday, October 7. The following day, starting at 9 a.m. (shotgun start), the Wingspan Gives Back Charity Golf Tournament will be held at the Stonebriar Country Club in Frisco. The event will conclude that evening with an exclusive VIP sneak preview of the documentary film, “The Hornet’s Nest,” at LOOK Cinemas in North Dallas at 8 p.m.

****Beneficiaries of the “Heroes & Hope” event include Military Warriors Support Foundation, Project Hope Foundation, and 9-1-1 For Kids.  Corporate and individual sponsorships are available to support these great causes; for more information, please visit

****“There is no group to whom we owe more than the men and women of our military,” says Steven Horne, president and CEO of Wingspan Portfolio Advisors. “This event benefits the heroes who wore the uniform of our country, enduring great hardship and sacrifice to protect all Americans. At the same time, ‘Heroes & Hope’ helps make a difference for children in need. Wingspan is proud to give back as a sponsor of this memorable event.”

****Wingspan Portfolio Advisors has been active in charitable causes, including Project Hope Foundation, the National Kidney Foundation, 9-1-1 For Kids, and others since its founding in 2008. The company provides numerous services to the mortgage industry, notably working with financially troubled borrowers to find ways for them to avoid foreclosure.

****“I’ve been a passionate supporter of our servicemen and women ever since my first USO Tour with Bob Hope,” states Wynonna Judd. “I’m proud to partner with “The Hornet’s Nest” film and Wingspan Portfolio Advisors to help raise funds for our worthy beneficiaries. I hope everyone can come enjoy an evening of music and support our troops.”

****In a joint statement, “The Hornet’s Nest” Co-Directors/Producers Christian Tureaud and David Salzberg added, “It is truly an honor to team up with Wingspan Portfolio Advisors and Wynonna Judd for this private VIP screening of ‘The Hornet’s Nest’. We can’t wait to give audiences this early sneak peak at this inspiring first-hand account of what’s happening in Afghanistan. This film gives you a never-before seen look at the sacrifices, patriotism and dedication our troops face every day in battle.”

****“The Hornet’s Nest” follows Peabody and Emmy Award-winning ABC News Journalist Mike Boettcher and his son Carlos Boettcher, who were armed only with their cameras when they were embedded with U.S. forces fighting on the front lines in Afghanistan amid the constant threat of the Taliban. The film unfolds a true story of survival for the soldiers, and for the father and son team who seek to re-connect under the most harrowing of circumstances.

****For more information about the “Heroes and Hope” event, visit For more information about sponsorship packages, contact

Wingspan Completes Another Big Acquisition

*Wingspan Closes Another Big Acquisition*
**By Tony Garritano**

TonyG***Hot off the presses, I learned this morning that specialty servicer Wingspan Portfolio Advisors has acquired Dimont & Associates, the nation’s leading hazard insurance claims management company, with offices in San Diego, California and Dallas, Texas. This acquisition significantly expands Wingspan’s capabilities and increases the size of the company to approximately 2,000 employees.

****It is the second large transaction for Wingspan in 2013. In February, the company announced the acquisition of the JPMorgan Chase servicing facility in Melbourne, Florida, retaining the existing staff to service loans for Chase as well as Wingspan’s other clients.

****Under the terms of the agreement, Dimont & Associates will retain its name and become a wholly-owned subsidiary of Wingspan Portfolio Holdings, Inc. Founder Bernie Dimont will continue his leadership role at Dimont & Associates.

****“Dimont & Associates has built great brand recognition by serving mortgage holders’ insurance claims needs with superb skill since 1996,” says Steven Horne, Wingspan’s CEO and president. “We will retain the Dimont name, leadership and company structure, and leverage its brand power in the claim recovery services arena, where Dimont is already successfully managing claims for many of the country’s highest volume servicers and GSEs.” Horne continues, “We are truly excited about the many synergies between our two companies, as well as the unique ways in which Dimont and Wingspan will complement each other to bring an even more impressive array of services to our clients.”

****Dimont & Associates specializes in filing and negotiating insurance claims for lenders, servicers, investors and the GSEs. Presenting and pursuing these claims to satisfactory resolutions involves utilizing an expert team of licensed professionals who maintain in excess of 1,300 state licenses in 46 regulating jurisdictions. Dimont & Associates has made a science out of managing the claims process on residential and multifamily properties and in maximizing recoveries for clients.

****“Our guiding principle has been to maximize value for clients in the insurance they have paid for with meticulous accuracy. We have worked hard to set new standards for our industry over the past 17 years,” Dimont says. “Our new relationship with Wingspan Portfolio Advisors represents the best of both worlds. Our company provides an important new dimension to Wingspan, already known for its award-winning capabilities.”

****Horne says that Dimont and Associates will experience few, if any, noticeable changes. What will be evident is that, “Wingspan clients will benefit from the collaboration of two innovative and effective industry leaders under a single, unified banner,” he observes. “That’s a winning combination.”

****Wingspan will now have offices in Dallas, Frisco, and Carrollton, Texas, and in Melbourne, Florida, along with Dimont & Associates’ offices in Dallas and San Diego, California. Financing for the transaction has been provided by BMO Harris Bank, N.A., Fifth Third Bank, Farmers & Merchants Bank, and THL Corporate Finance, Inc. Investment advisory services were provided by Barrier Advisors for Wingspan Portfolio Holdings and were provided by JMP Securities for Dimont & Associates. No other transaction details were disclosed.

Wingspan To Acquire Chase’s Servicing Arm

*Wingspan To Acquire Chase’s Servicing Arm*
**Deal Reached**

buying***Wingspan Portfolio Advisors, a Dallas-based diversified component and special mortgage servicer, has entered into an agreement with JPMorgan Chase to acquire its mortgage servicing operation in Melbourne, Florida. “This is big news for us and we see it as indicative of where our industry is headed,” says Wingspan CEO and President Steven Horne.

****He continued, “We are now fully equipped to meet the needs of clients as they downsize the scale of their default servicing operations.”

****Wingspan Executive Vice President, Servicing Operations Jason Spooner will be in charge of this site, which is based in the east coast of Florida. “These associates in Florida are recognized for their deep experience in servicing,” says Spooner. “The addition of this team and its capabilities provides Wingspan a true strategic advantage in the marketplace.”

****As part of the agreement, Wingspan will offer positions to more than 400 Chase employees and has acquired the lease of the Melbourne office building. The acquisition brings Wingspan to almost 2,000 employees in four locations in Texas and Florida, with approximately 420,000 square feet of office space. Wingspan will now assume all operations on-site and provide services to Chase, as well as to others seeking support.