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Specialty Servicer Sees Increased Demand to Handle Borrower Inquiries

Servicers swamped with borrower inquiries and follow-up requirements are turning to specialty providers for quick resolution, according to ""Wingspan Portfolio Advisors"":http://www.WingspanAdvisors.com, a Dallas-based specialty and component servicing firm.
[IMAGE] ""When dealing with highly sensitive customer matters, outsource assistance needs to be extremely experienced in high-touch, often emotionally charged situations,"" said Jason Dickard, VP in charge of the company's professional services division.

""Complaints, for example, have often been pushed up the management chain through the legal department,"" Dickard explained, ""and servicers want them finalized with the best possible result. We're positioned to work with everyone involved to achieve resolution once and for all.""

Dickard said demand for these services increased rapidly over the last six to nine months. He cited the robo-signing crisis and related foreclosure slowdowns as contributing factors.

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Wingspan Portfolio Advisors expects inquiries to continue to increase due to the growing awareness of consumer issues among elected officials, regulators, and the public at large.

""[T]his type of work involves extreme sensitivity to context, an ability to grasp the nuances of an inquiry, and high attention to detail,"" said Steven Horne, CEO of Wingspan Portfolio Advisors. ""It can't be outsourced to just anyone, so we found a ready clientele for our skills as we can do the work accurately and in high volume. It's tailor-made for our business model.""

Wingspan Portfolio Advisors' signature capability works closely with defaulting borrowers and finds ways to avoid foreclosure.

""Spending lots of time talking to borrowers is not typically something the primary servicers are able to do based on their basic business model and compensation structure,"" Horne said. ""But it's precisely what we do, and that fits perfectly with the requirements of getting consumer issues resolved.""

According to a statement from the company, Wingspan is prepared for and capable of filling the increasing demand for this specialty niche. The company expanded its workforce by one-third in the last 90 days and is approaching 400 staffers.

""We do a variety of things in this unit, including our Active Servicer Management program and a variety of other business process outsourcing functions,"" Dickard explained. ""The demand for handling these especially problematic issues for servicers is soaring, and it plays to our strengths.""

About Author: Heather Cernoch

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