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Wingspan Acquiring Chase Operation

2nd deal between two companies

Sept. 20, 2013

By Mortgage Daily staff

For the second time this year, Wingspan Portfolio Advisors will acquire a servicing operation from JPMorgan Chase & Co. and hire hundreds of Chase employees in the process.

An announcement Friday indicated that Dallas-based Wingspan has agreed to acquire a large-scale customer service operation in Monroe, La., from Chase.

The center handles an array of customer service functions such as inbound calls, outbound calls and electronic communications.

Around 400 Chase employees will be offered jobs at Wingspan as part of the deal. Wingspan's company-wide headcount will exceed 2,000 following the acquisition.

"Wingspan will retain 400 Chase employees while creating 532 new direct jobs over the next ten years," Louisiana Gov. Bobby Jindal was quoted by KNOE 8 News as saying. "It estimates this project will result in 609 new indirect jobs. That means they're creating 1,100 new jobs right here in northeast Louisiana."

Wingspan is taking over the lease on the building that houses the Monroe operation.

"With this new addition, Wingspan expands its ability to respond to clients’ needs with superb customer service capabilities," Wingspan President and Chief Executive Officer Steven Horne stated in the news release. "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."

It's the second such deal between the two companies.

In February, Wingspan acquired a servicing operation in Melbourne, Fla., from the New York-based financial institution. That transaction included Wingspan's hiring of more than 400 Chase employees working at the operation.

Chase Sells Florida Operation
JPMorgan Chase & Co. has been reducing its mortgage servicing staffing as the need for such positions has diminished. But some Florida servicing jobs won't suffer the same fate as a result of a deal to sell the unit to a growing special servicer.

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