Special mortgage servicer Wingspan Portfolio Advisors announced the acquisition of hazard insurance claims management company Dimont & Associates Wednesday morning.
The deal grows Dallas-based Wingspan to a firm of 2,000 employees and is the second largest transaction for the servicing giant in 2013.
Dimont & Associates will keep its name as a wholly-owned subsidiary of Wingspan Portfolio Holdings.
The company’s founder Bernie Dimont will maintain his leadership role and continue to spearhead the efforts of Dimont & Associates.
"We will retain the Dimont name, leadership and company structure, and leverage its brand power in the claim recovery services arena, where Dimont is already successfully managing claims for many of the country's highest volume servicers and GSEs," said Steve Horne, CEO of Wingspan.
"We are truly excited about the many synergies between our two companies, as well as the unique ways in which Dimont and Wingspan will complement each other to bring an even more impressive array of services to our clients."
Dimont & Associates provides lenders, servicers, investors and the GSEs with help in filing and negotiating insurance claims.