Wingspan Files For Bankruptcy

Posted by Patrick Barnard on July 15, 2015 No Comments
Categories : Mortgage Servicing

Special servicer Wingspan Portfolio Advisors has reportedly filed for Chapter 7 bankruptcy.

According to an article in the Dallas Business Journal, Wingspan filed for bankruptcy on Monday.

The Dallas-based company listed $1.24 million in assets and $12.07 million in liabilities, according to the report.

Wingspan's Chapter 7 filing shows that it lost more than $47 million between 2013 and July 3 of this year, the Business Journal report states.

Wingspan made news in June when Florida Today reported that the special servicer was closing its call center in Melbourne, Fla. About 150 workers were to be affected.

Wingspan acquired the mortgage servicing operation from JPMorgan Chase in February 2013. At the time, it had 400 employees.

The company also made news last October when it was announced that it's founder, Steve Horne, was stepping down as CEO and president and into a different role at the firm.

Earlier that same month, news broke that the company was scaling back staffing at its facilities in Melbourne and Monroe, La.

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