Specialty Servicer Creates Attorney Network

Posted by Orb Staff on April 14, 2009 No Comments
Categories : Mortgage Servicing

-headquartered specialty servicer Wingspan Portfolio Advisors LLC has formed a professional network of attorneys to assist in foreclosure prevention efforts. ‘As an attorney myself, I understand that while law firms provide the legal services associated with foreclosure, they and their clients will benefit more by finding ways to make the assets reperform and keep people from losing their homes," says company CEO Steven Horne. "They want to explore all the options before foreclosure becomes inevitable, and that's where the Wingspan Preferred Attorney Network comes in." Firms that joint the company's attorney network demonstrate their "commitment to finding alternatives to foreclosure, even when the process has already started," he adds, saying membership is a valuable service enhancement for attorneys' lender and servicer clients. Wingspan Portfolio Advisors already has an alliance with the American Legal & Financial Network (AFN), in which Wingspan uses AFN member attorneys exclusively, wherever possible. Many Wingspan Preferred Attorney Network members are also members of the AFN, according to a Wingspan press statement. Membership in the Wingspan Preferred Attorney Network is organized along the lines of a professional designation, according to Wingspan's legal services manager, Tom Force. A member attorney receives one of three designations, which are based on experience initially, and later upon loan resolution success. Wingspan Professional Attorney Network members are referred foreclosure actions by servicers and Wingspan Portfolio Advisors, and they are encouraged in their conversations to make certain that borrowers understand that options other than foreclosure may be available to them. "Borrowers are often in shock through much of the default process," Horne says. "The more people telling them that the beginning of a foreclosure action is not necessarily the end of their homeownership, the more willing they become to explore all the alternatives with us." SOURCE: Wingspan Portfolio A

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