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Special servicers are now a must-have in the repertoire of the servicing industry, according to executives at ""Wingspan Portfolio Advisors"":http://www.wingspanportfolioadvisors.com/.
[IMAGE]The Dallas-based servicer said it believes its own growth is evidence of the rising need for special servicers.
In a release, Steven Horne, Wingspan CEO and president, explained how the company set itself apart when first formed.
""When Wingspan was founded in 2008, we had a good idea of the range of services we would be asked to provide, so we built flexible infrastructure and systems to allow rapid growth,"" said Horne. ""This ability to continually adapt to our clients' needs and provide a wide range of strategic services to assist in every aspect of loan servicing has allowed us to substantially expand our footprint.""
According to a company release, Horne believes the growth pattern at Wingspan tracks the servicing industry's need for component pieces of the overall special servicing puzzle, as well as the industry's ability to provide experts who are accustomed to improving outcomes in worst case scenarios.
[COLUMN_BREAK]""As the need for compliance and oversight grew, we were able to take on a number of the tasks required of impacted servicers in a short period of time,"" Horne explains. ""We hired, trained and deployed hundreds of people focused on specific problems and equipped them with the technology needed to be effective immediately. This capability was well-timed for many of our clients.""
Ed Delgado, COO of Wingspan and former CEO of the Five Star Institute, further explained the necessary role special servicers hold.
""The importance of special or component servicing continues to grow,"" said Delgado. ""Current market conditions and circumstance have given rise to the need for strategic servicing partners that operate in a high touch dynamic environment.""
Delgado also pointed to the role of special servicers in promoting short sales ""as a viable alternative to foreclosure,"" adding, ""[t]he increased popularity of this solution demonstrates a possible stabilization of the market, and a balanced approach to loss prevention.""
Wingspan accomplishments this year include recognition as the ""Servicer of the Year"" by Mortgage Technology Magazine. Wingspan ""received its trophy"":http://dsnews.comarticles/wingspan-portfolio-advisors-awarded-servicer-of-year-2012-10-22 at the MBA Annual Convention & Expo.
The servicer was also recently named by the SMU Cox School of Business as one of the fastest growing, most dynamic privately held companies in the U.S.
Wingspan executives have made multiple appearances as speakers and panelists on special servicing, compliance, and essential business process improvement and have been used for repeated commentary by media outlets including CNBC and the New York Times.
