Before we begin, one thing needs to be made clear, Fairbanks Capital Corp. has changed their name to Select Portfolio Servicing (SPS). It is the SAME EXACT company just with a new name. I get many, many emails from people saying their loan was sold from Fairbanks to SPS, your loans were not sold, you are dealing with the same company!
1989 ? Fairbanks founded by Thomas D. Basmajian
2000 ? PMI purchases shares of Fairbanks
December 2000 - Fitch Affs Fairbanks Capital's `RSS1' & `RPS2' Resi Servicer Rtgs
December 2001 - Fairbanks Capital Corp. Announces Definitive Agreement To Acquire Bank Of America's Subprime
Servicing Platform
March 2002 - Fairbanks Capital Corp. Announces Close of EquiCredit Subprime Lending Acquisition Transaction
May 2002 - Fairbanks Capital Corp. and DLJ Mortgage Capital Sign Letter of Intent for Servicing Arrangement
July 2002 ? PMI Increseases Ownership In Fairbanks With Help of GE & FGIC
March 2003 ? Fairbanks expands office space
03/07/2003 - PMI Group, Inc. Supports Full Cooperation by Fairbanks Capital Corp
April 2003 ? Utah Officials investigate Fairbanks
05/08/2003 ?Fairbanks Makes Management Changes
05/09/2003 ?Moody?s downgrades Fairbanks
05/13/2003 - Mikulski and Sarbanes ask the federal government to investigate Fairbanks
05/28/2003 ? Fairbanks Get Financial Aid From Lenders & Shareholders
June 2003 ? Fitch downgrades Fairbanks
October 2003 ? Fairbanks Ratings Tumble
November 2003 ? FTC announces settlement with Fairbanks
May 2004 - NTIC Announces Agreement of Understanding with Fairbanks Capital Corp
May 2004 ? Fairbanks Settles With Florida
June 2004 ? Fairbanks appoints Consumer Ombudsman
July 2004 ? Fairbanks changes its name to Select Portfolio Servicing
September 2004 ? Fairbanks Agrees To Settle With Michigan Homeowners
October 2005 ? PMI sells SPS and SPS Holding Corp. to Credit Suisse First Boston
