New Servicer to Focus on Serious Overdues

Wingspan Portfolio Advisors LLC, a Carrollton, Texas-based mortgage servicing specialist, has been formed to assist lenders and servicers plagued by seriously delinquent loans, according to the company. The company said it applies a borrower-focused servicing methodology aimed not only at mitigating losses, but also at helping borrowers achieve full-payment status resulting in "re-performing" loans. Wingspan was founded and is led by servicing industry veteran Steven Horne, a lawyer who formerly served as director of servicing risk strategy with Fannie Mae. He spent nine years as a partner with Sherman Financial Group, and previously served as director of default servicing for Ocwen, where he provided outsourcing services to Freddie Mac. Wingspan can be found online at http://www.wingspanadvisors.com.