Regulatory uncertainty, toxic environment drive Wells Fargo, Prospect out of MSAs

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Items Tagged with 'Wingspan Portfolio Advisors'

ARTICLES

Dimont announces sweeping senior management changes

Names new CEO, CFO, general counsel; promotes other senior staff
Dimont, which divested itself last year from the now-bankrupt Wingspan Portfolio Advisors, announced a series of significant changes to its senior management. Dimont provides insurance-related services and hazard claims insurance processing services to the residential and commercial mortgage industries.
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Wingspan Portfolio Advisors files for bankruptcy

Is this the end for the once-mighty special servicer?
Citing a massive gap between its assets and liabilities, Wingspan Portfolio Advisors filed for Chapter 7 bankruptcy protection in United States Bankruptcy Court for the Eastern District of Texas. And the company's bankruptcy filing does not paint a pretty picture of Wingspan's future.
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Wingspan closing Florida office, laying off 150 employees

Melbourne location once employed 400 people
When Wingspan Portfolio Advisors purchased JPMorgan Chase’s mortgage servicing operations center in Melbourne, Florida, in February 2013, the company gave 400 Chase employees who staffed the Melbourne office the opportunity to continue their employment. Now the company plans to close the Melbourne office and lay off the remaining 150 employees.
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Wingspan lays off 100 more employees in Monroe

Are all 400 former JPMorgan Chase employees now gone?
In October, Wingspan Portfolio Advisors laid off hundreds of employees in its Monroe, Louisiana location, leaving only an estimated 100 employees at the former JPMorgan Chase call center. Now those employees will soon be gone, too.
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It’s official: Steve Horne out as Wingspan CEO

Jason Spooner takes over; Horne becomes senior advisor
Despite repeated denials to HousingWire, Wingspan has made the news of Steve Horne's exit as president and CEO official, and named Jason Spooner, Wingspan’s executive vice president of national operations, as the company’s new president. According to Wingspan, Horne has been moved to a senior advisor position.
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Dimont & Associates terminates Wingspan relationship

Returns to independent operations
Dimont & Associates, which was acquired by Wingspan Portfolio Advisors in May 2013, announced Thursday that it terminated its relationship with Wingspan, as a result of "recapitalization by existing institutional investors including THL Credit."
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MBA Hall of Honor gives back to military veterans

Financial services companies benefit veterans and their families
The MBA conference offers a variety of interesting, smart and funny (Michael Lewis!) speakers, but my favorite presentation so far has been the Hall of Honors, where the MBA recognizes companies in our industry who give assistance to military veterans and their families.
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Looming layoffs at Bank of America signal shift in mortgage servicing

Impact already being felt throughout industry
The impact of Bank of America's $16.65 billion settlement is beginning to be seen in the mortgage industry. The settlement will affect more than just the bank, the aggrieved homeowners and the government. It isn’t just the big banks that feel the pain of these settlements. It affects everyone.
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