RoundPoint Mortgage Servicing Mortgage Review


| About RoundPoint Mortgage Servicing

RoundPoint Mortgage Servicing Corporation was founded in 2007 with the goal of offering consumers an array of mortgage servicing options. The lender, which has headquarters in Charlotte, N.C., is a fully licensed agency that services loans for banks, credit unions, hedge funds and mortgage companies. Currently, RoundPoint services more than $75 billion worth of mortgage assets, including its own mortgage assets and other loans nationwide.


Working with RoundPoint Mortgage Servicing

RoundPoint is licensed to service home loans in all 50 states plus the District of Columbia and the U.S. Virgin Islands. This means no matter where you live in the U.S., this company could be a candidate for your home loan needs.

RoundPoint does not offer any physical branches with loan officers you can speak to. Because it is not a traditional bank or lender, it also does not offer ATM locations you can access. The bulk of its services are offered online or over the phone with the help of a RoundPoint Mortgage Servicing representative.

In terms of working with the lender, RoundPoint promises several key services that can make buying a home more rewarding and less stressful. Perks include a tailored experience built around a borrower’s homebuying needs, transparency throughout the mortgage process, good communication and quick turnaround times. RoundPoint also offers an online portal you can access to view real-time updates to your mortgage application from start to finish.


RoundPoint Mortgage Servicing products

RoundPoint Mortgage Servicing offers a very basic selection of mortgage products that can help you purchase a home or refinance your current home loan.

Each of these products is explained on the RoundPoint Mortgage Servicing website with the option to “apply now” and begin the process.


The mortgage application process

To start the home loan application process, visit the RoundPoint Mortgage Servicing website. Once you decide whether you want to apply for a new loan or refinance an existing loan, you are required to create an account with information such as your name, email address and phone number. You are also asked to create a username and password before you can begin filling out the bulk of the data this lender requires.

Once you create an account, you can log in and begin your home loan application. Information you’ll need to share during the full application includes:

  • Your name
  • Whether you have a joint borrower
  • Expected loan amount
  • The state in which you plan to buy
  • Down payment amount
  • Your current address
  • Number of dependents
  • Birth date
  • Phone number
  • Employment details
  • Income
  • Marital status
  • Current living expenses

Once you fill out the RoundPoint forms with this basic information, you’ll be asked to provide consent to do business with the company electronically. Upon your consent, you’ll receive notification that a loan officer will reach out to you within one business day. We were unable to find out more details on the mortgage process beyond the initial application offered online, as the lender was not available for comment.


Pros and cons of Roundpoint Mortgage Servicing

Pros

  • Offers mortgage products that let you purchase a home, refinance an existing home loan or tap into your home’s equity
  • Company offers additional products for homeowners, including insurance products, home protection and home services, such as landscaping and junk removal
  • Robust online portal lets you make mortgage payments online
  • Online portal allows you to view the progress of your application in real time

Cons

  • No physical branches to drop in and visit
  • Website is cryptic with almost no information on mortgage products offered
  • No access to home equity loans or HELOCs
  • Few mortgage loan products offered
  • Consumers are required to create an account to access most website functions

Editorial Note: Parts of this article were reviewed by a lender to ensure accuracy prior to publication. The overall conclusions, recommendations and opinions are the author’s alone.

The information in this article is accurate as of the date of publishing.