Founded in 2007 and based in Charlotte, NC, RoundPoint Mortgage Servicing is a mortgage sub servicer that offers servicing for conventional loans, Freddie Mac, and Fannie Mae-backed mortgages. It also provides commercial banks, credit unions, and hedge funds services. Among other things, it promises to provide “customer-focused, timely solutions” for its customers. The company says its online service allows homeowners to easily manage their mortgages. You can check your loan details, make payments, and access a variety of other information with just a few clicks. You can also get a free mortgage calculator from the site.
While the lender doesn’t offer an entirely online application experience, it does allow you to meet with a local loan officer before moving forward. The website will direct you to the nearest branch location, though some states have limited physical offices. Its website doesn’t list specific rates but has various mortgage calculators for affordability and payment calculations.
How Do I Reach a Person at RoundPoint Mortgage?
RoundPoint Mortgage Servicing operates a large contact center in Charlotte, NC, with a team of more than 1,000 agents. Customers praise the firm for its attentive customer support throughout the loan process and even during loss mitigation.
However, RoundPoint has recently come under fire for its handling of consumer information. The company was the victim of a data breach caused by a vulnerability in its MOVEit third-party application from Progress Software. Customers received notification letters from Sovos Compliance, a company that provides cybersecurity services to RoundPoint.
Customers have also complained that RoundPoint has failed to report their mortgage payments to credit bureaus. The company has been working to resolve these issues for months. In 2023, RoundPoint agreed to be acquired by Matrix Financial Services Corp. in an all-stock deal. Upon closing, the transaction is expected to provide annual pre-tax earnings of $20 million through increased revenues and cost savings from vertically integrating its self-servicing capabilities.
What Happened to RoundPoint Mortgage?
As interest rates rise, mortgage companies are scaling back. RoundPoint is closing its Melville office, laying off 71 workers, according to a Worker Adjustment and Retraining Notification posted by the state. The company did not return a request for comment.
In 2020, Mount Laurel-based Freedom Mortgage Corp. purchased RoundPoint Mortgage Servicing Corp. At the time of the acquisition, RoundPoint serviced approximately $75 billion in outstanding principal balances and subserviced an additional $310 billion in servicing rights based on unpaid principal balance, according to Freedom’s announcement of the deal.
Two years later, Freedom made a deal to sell the nonbank mortgage servicer to Matrix Financial Services Corp., a wholly owned subsidiary of real estate investment trust Two Harbors Investment Corp. The deal is expected to close in 2023, pending customary closing conditions and regulatory approvals. The acquisition is expected to provide Two Harbors with annual pre-tax earnings of about $20 million through incremental revenue and cost savings, the deal announcement states.