As many of the larger financial institutions are starting to lay off employees due to fewer borrowers entering delinquency and default, Wingspan Portfolio Advisors is continuing to build its presence within the mortgage servicing industry.
The special servicer made its second large acquisition for 2013 by reaching an agreement with JPMorgan Chase to take over a large-scale customer service operation in Monroe, La.
As part of the agreement, Wingspan will offer employment to approximately 400 Chase employees. Additionally, the special servicer has entered into a lease for the Monroe office building.
The Monroe office handles a variety of customer service areas, such as inbound and outbound calls and electronic communications involving a full range of financial services.
“With this new addition, Wingspan expands its ability to respond to clients’ needs with superb customer service capabilities,” said Steven Horne, president and CEO of Wingspan. “We are often called upon to scale quickly and effectively to help our clients as their priorities change, and this acquisition enables Wingspan to react to requests with significant speed and very high service quality.”
In February, Wingspan acquired the JPMorgan Chase servicing operation in Melbourne, Fla. Horne said this site is the top producing location in terms of product quality for loan modifications and customer assistance. The 400 people who worked in that building were retained by Wingspan.
By obtaining the Monroe office, Wingspan has over 2,000 employees throughout the country. Besides its Dallas headquarters, Wingspan has offices in Frisco and Carrollton, Texas, Melbourne, Denver, San Diego, and now Monroe.