Wingspan CEO: 3 keys to success for servicers
Servicing now a hub of strategic partners
Dallas-based Wingspan Portfolio Advisors finished this past year with several key profile acquisitions that significantly increased the company’s size and revenue, but that's not where the storybook ends.
While the book is still being written on the new rules for servicers, Steven Horne, CEO and president of Wingspan Portfolio Advisors, noted in a panel session Thursday morning at the Mortgage Bankers Association’s National Mortgage Servicing Conference & Expo 2014, so is the book for his company.
In an exclusive interview with HousingWire, Horne outlined three key areas that impacted the company and led to its pivotal acquisitions.
1. Production: “There is always a client's need for production. They need something done, which gives you the opportunity to get into quality,” Horne said.
2. Quality: “This is what keeps the relationship and allows the relationship to grow over time," Horne explained. “It is something that we pride ourselves on — delivering an outstanding level of quality.”
3. Transparency: Ultimately, it is not enough to say all those things, Horne noted. “You have to be able to back it up and prove it with transparent, accountable data that says, ‘here are our results and we are willing to be measured by them and paid by them,’” he said.
Wingspan is still a relatively young company,having started in 2008. “While we have had a lot of opportunity, they have tended to be one-dimensional and now we are hoping to get that broader base,” he said.
“We are definitely open to additional expansion if the right opportunity becomes available,” Horne said. “But we are more focused on helping new and existing clients be profitable and meet their challenges in the new regulatory environment.”
Overall, Horne explained that the nature of servicing is changing from the old days of every servicer trying to be all things to all people under one roof and is now transitioning to being the hub of a network of strategic partners providing specialized services.
“That is a better structure from both a costs standpoint and to meet the needs, demands and expectations of various contingencies serviced by the servicing industry, including investors, customers and regulators,” he said. “That model is really where we are headed.”