Wingspan Continuing Along Acquisition Trail

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MORTGAGE EXPERT
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Wingspan Portfolio Advisors has already picked up three operations during the past year, and it’s prepared for more acquisitions if the right opportunity arises.

The distressed loan servicer announced in February 2013 that it had acquired a servicing operation in Melbourne, Fla., from JPMorgan Chase & Co. Wingspan hired 400 employees as part of that deal.

Three months later, the Dallas-based firm said that it bought Dimont & Associates, an insurance claims management firm.

Then, in September, Wingspan disclosed an agreement to acquire a large-scale customer service operation in Monroe, La., from Chase. That transaction also included 400 employees.

Wingspan additionally launched a new due diligence business in September, while it unveiled a service to monitor and resolve homeowners association claims in October.

But the sprawling firm isn’t necessarily done growing through acquisitions.

On Tuesday, Wingspan Chief Executive Officer and President Steven Horne issued an announcement indicating that the company is open to additional acquisitions if the right opportunity arises.

“The role of the component services provider has changed dramatically over the last year or two,” Horne said in the statement. “There are fewer companies in number but they are much larger and offer many more services. Companies in our business must be equipped to perform a broad array of functions on a very large scale, and this means extensive investment in technology, deep legal expertise, bulletproof compliance and vast financial resources.

“Sometimes that involves acquiring companies rather than building from scratch.”

Wingspan finished last year with a staff of 2,000 employees.

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