Wingspan Portfolio Advisors LLC, a Dallas-based mortgage servicer specializing in highly delinquent loans, has been selected by the National Association of Federal Credit Unions (NAFCU) Services Corp. as the association's designated special servicer and preferred partner for dealing with defaulting loans.Â
Under the terms of the partnership, Wingspan will provide its services to NAFCU member credit unions in an effort to save as many of their problem loans as possible from foreclosure. Wingspan adds that it will be compensated by NAFCU lenders when it is successful in restoring loans to paying status.
‘It should come as no surprise that residential mortgages in default represent a challenge, today and likely for some time to come, as well,’ says David C. Frankil, president of NAFCU Services Corp.
SOURCE: Wingspan Portfolio Advisors