Steve Horne, CEO of Wingspan Portfolio Advisors, says the Dallas-based mortgage servicing firm is noticing a few positive developments in the marketplace as it surveys the current landscape of delinquent mortgage assets.

On one hand, the real estate market is far from out of the woods, but Horne said some distressed borrowers, who have been sitting in defaulted properties for months, are starting to regain employment and cash flow, creating an opportunity for them to save homes that have been riding it out in the prolonged mortgage foreclosure process.

In a sit down interview with HousingWire, Horne discusses his take on the FHFA proposed mortgage servicer compensation model and the overall outlook for distressed assets in 2012.