Volume 2014 - Number 39
October 16, 2014
Layoffs Hit ‘Specialty Servicers’ Wingspan And RCS: Has This Niche Market Peaked?
Thanks to rapidly improving delinquency rates and real estate values, the bloom appears to be off the rose for specialty servicers that built their business on processing delinquent and high-touch mortgages that are guaranteed by Fannie Mae, Freddie Mac and the FHA. Over the past month, layoffs have plagued both Wingspan Portfolio Services, Dallas, and Residential Credit Solutions of Fort Worth, TX. Moreover, industry officials who work in the servicing sector believe...
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