Wingspan Creates Platform to Accelerate and Manage Short Sales
Wingspan Portfolio Advisors has formed a platform that allows real estate professionals, lenders and servicers an opportunity to accelerate and manage their short sales.
The Wingspan Real Estate Network facilitates the short-sale process from end-to-end by negotiating offers with all parties by using the company’s servicing contacts and experience to clear a path to closing around the usual obstacles that occur during a short sale.
Because of the reduced time that the WREN provides a client, the short-sale strategy could be executed quicker than it previously took.
“The main gap has historically been the Realtor’s ability to navigate a complex process with numerous stakeholders while also obtaining timely decisions on short sale offers,” said Steve Horne, founder and CEO of Wingspan Portfolio Advisors.
“Short sales are a key factor in stabilizing the market by reducing the surplus of homes and lowering the foreclosure rate. Short sales means fewer vacant homes, more motivated borrowers and a shorter timeframe before distressed sellers can re-enter the housing market when they avoid a foreclosure.”
Horne said WREN has the ability to eliminate errors and create faster short-sale opportunities for borrowers, which could help the overall real estate market make a recovery.
Throughout the process, Realtors are kept informed on the transaction whenever offers from real estate professionals take place on a property. The company also works with lien holders to obtain all the information required to move the deal as smoothly as possible. “The WREN technology keeps everyone, including the buyer and his agent, informed,” Horne said. “It is the ideal scenario for the real estate community.”
Chris Plummer has been appointed as managing director of WREN to lead its daily operations and services development.
“The idea behind WREN is bringing in real estate expertise and leveraging Wingspan Portfolio Advisors’ impressive capabilities to create a service platform where short sales happen with speed and ease,” Plummer said.
Wingspan executives believe that WREN will be about two to three times more efficient than the national average for short sales. Horne said he believes a 70% success rate is possible through WREN.
“There are other alternative short-sale platforms and auction sites, but they do not bring the servicing capabilities and partnerships that Wingspan provides,” Plummer said. “Through continued market research from all parties involved, WREN is a service long anticipated within the industry and something real estate professionals will be excited about.”