JAM Equity Partners LLC and its affiliates have made a $2.5 million investment in Wingspan Portfolio Advisors, a Dallas-based mortgage servicer specializing in highly delinquent loans.
According to the companies, proceeds from the financing will be used to build out the company's servicing and technology platform. JAM's investment includes an option to invest additional capital.
‘We believe there are very few servicers that can match Wingspan's expertise in servicing distressed second mortgages and low-balance first mortgages – a huge opportunity that is especially problematic,’ says Mike Sekits, a partner at JAM.
Sources: JAM Equity Partners, Wingspan Portfolio Advisors