DALLAS, TX (February 18, 2014) – Wingspan Portfolio Advisors, an award-winning diversified mortgage services company, had several high profile acquisitions in 2013 that substantially increased the company’s size and expanded its capabilities as its footprint grew to include Florida, California, Louisiana and Colorado. Steven Horne, CEO and president of Wingspan Portfolio Advisors, says that the company will be receptive to additional acquisitions if the right opportunities present themselves.
“The role of the component services provider has changed dramatically over the last year or two,” Horne says. “There are fewer companies in number but they are much larger and offer many more services. Companies in our business must be equipped to perform a broad array of functions on a very large scale, and this means extensive investment in technology, deep legal expertise, bulletproof compliance and vast financial resources,” he explains. “Sometimes that involves acquiring companies rather than building from scratch.”
Wingspan acquired a 400-person servicing facility from JPMorgan Chase in February of 2013 in Melbourne, Florida, and a customer service operation in Monroe, Louisiana in September 2013, also from JPMorgan Chase, adding another 400 employees to Wingspan’s ranks. In May 2013, the company purchased Dimont & Associates, the mortgage industry’s leader in insurance claims management, based in San Diego, California and Dallas. In September 2013, Wingspan also opened a due diligence facility in Denver that provides 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. A month later, this division announced a service to monitor and resolve homeowners association (HOA) claims that can cloud title, delay property sales and even endanger first lien status in some areas. 2013 saw Wingspan grow to more than 2,000 employees at seven locations around the country.
“We are definitely open to additional expansion if the right opportunity becomes available,” Horne says. “But we are more focused on helping new and existing clients be profitable and meet their challenges in the new regulatory environment.” He notes that in addition to purchasing several facilities, Wingspan has also acquired an impressive amount of industry talent over the last few months. “We can’t have enough expertise in our business, and we have added about a century’s worth of experience with four key hires in business development and operations,” he says, referring to well known industry leaders who have recently joined the company. Susan Pettem was named executive vice president for business development in October 2013 and Arleen Scavone, Wingspan’s new chief operations officer, joined the company in January 2014, each bringing 30 or more years of industry experience. Aaron Luburich and John Guy were hired as senior vice presidents of business development as well, adding about 40 more years of know-how to the senior team.
“Bringing Arleen Scavone aboard is almost like an acquisition all by itself,” Horne observes. “One of my reasons in launching Wingspan was to be able to work with all of the smartest people in the business – and we’re making excellent progress in that direction.” Scavone is an expert in operational management, technology and business development for large organizations. Prior to joining Wingspan, she was founder and remains president of OpExNow, a process improvement and management consultancy serving major lenders and servicers in the mortgage industry. Her clients include Bank of America, Morgan Stanley/Saxon Mortgage, Wells Fargo Mortgage, Redwood Trust, Stonegate Mortgage, LPS and Wingspan Portfolio Advisors, among others. “We are exploring ways to leverage Arleen’s consulting expertise with very large organizations to enhance Wingspan’s capabilities and look forward to pursuing all possibilities,” Horne says.
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, attorneys and real estate agents throughout the U.S. With offices in Dallas, Frisco, and Carrollton, 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.