Wingspan Portfolio Advisors has acquired Dimont & Associates. This acquisition significantly expands Wingspan’s capabilities and increases the size of the company to approximately 2,000 employees. It is the second large transaction for Wingspan in 2013. In February, the company announced the acquisition of the JPMorgan Chase servicing facility in Melbourne, Florida, retaining the existing staff to service loans for Chase as well as Wingspan’s other clients.
Under the terms of the agreement, Dimont & Associates will retain its name and become a wholly-owned subsidiary of Wingspan Portfolio Holdings Inc. Founder Bernie Dimont will continue his leadership role at Dimont & Associates.
“Dimont & Associates has built great brand recognition by serving mortgage holders’ insurance claims needs with superb skill since 1996,” said Steven Horne, Wingspan’s CEO and president. “We will retain the Dimont name, leadership and company structure, and leverage its brand power in the claim recovery services arena, where Dimont is already successfully managing claims for many of the country’s highest volume servicers and GSEs.”
Dimont & Associates specializes in filing and negotiating insurance claims for lenders, servicers, investors and the GSEs. Presenting and pursuing these claims to satisfactory resolutions involves utilizing an expert team of licensed professionals who maintain in excess of 1,300 state licenses in 46 regulating jurisdictions. Dimont & Associates has made a science out of managing the claims process on residential and multifamily properties and in maximizing recoveries for clients.
Wingspan will now have offices in Dallas, Frisco, and Carrollton, Texas, and in Melbourne, Fla., along with Dimont & Associates’ offices in Dallas and San Diego, Calif. Financing for the transaction has been provided by BMO Harris Bank NA, Fifth Third Bank, Farmers & Merchants Bank, and THL Corporate Finance, Inc. Investment advisory services were provided by Barrier Advisors for Wingspan Portfolio Holdings and were provided by JMP Securities for Dimont & Associates.