DALLAS, TX (May 19, 2014) -- Wingspan Portfolio Advisors, an award-winning diversified mortgage services company, 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.
“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.”
About Wingspan Portfolio Advisors
Founded in 2008, Wingspan Portfolio Advisors, LLC, is an award-winning, diversified mortgage services company, partnering with lenders, servicers, investors, mortgage insurers, and attorneys throughout the U.S. With offices in Dallas, and Frisco, Texas, Melbourne, Florida, Denver, Colorado, Monroe, Louisiana, and San Diego, California, Wingspan’s team of experienced professionals provides a wide range of mortgage-related services. Twice awarded “Servicer of the Year” honors by Mortgage Technology, Wingspan was recently named #23 on the Inc. 500 list of fastest-growing private companies in the U.S. For more information on Wingspan Portfolio Advisors, please visit www.WingspanPortfolioAdvisors.com.
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