Roundpoint Mortgage Review in 2023: Interest Rates & Plans

Roundpoint Mortgage is a mortgage lender that provides a variety of home loan products, including fixed- rate mortgages, malleable- rate mortgages( ARMs), jumbo loans, and government- backed loans( similar as FHA and VA loans). The company’s mortgage products are available for purchase or refinance, and can be used for a variety of purposes, including buying a new home, refinancing an being mortgage, or making home advancements.

Roundpoint Mortgage offers competitive interest rates on its mortgage products, and the rates can vary grounded on a number of factors, including the type of mortgage product, the borrower’s credit score and fiscal history, and the type of property being financed. It’s important to compare mortgage rates from multiple lenders to insure that you’re getting the stylish rate possible.
In terms of mortgage plans, Roundpoint Mortgage offers a range of options to meet the requirements of different borrowers. For illustration, the company offers both fixed- rate and malleable- rate mortgage products, as well as colorful loan terms( similar as 15- time, 30- time, and other options). In addition, Roundpoint Mortgage offers government- backed loan programs, similar as FHA and VA loans, which can be a good option for first- time homebuyers or those with lower- than-perfect credit.

Overall, Roundpoint Mortgage appears to be a solid choice for borrowers who are in the request for a home loan. It offers a range of mortgage products at competitive rates, and has a character for furnishing good client service. As with any mortgage lender, it’s important to shop around and compare rates and terms from multiple lenders to insure that you’re getting the stylish deal possible.

Roundpoint Mortgage Servicing Corporation

RoundPoint Mortgage Servicing Corporation, founded in 2007, is a large non-bank mortgage servicing company.

They have developed a multifaceted strategy to assist borrowers at every stage of the loan lifecycle, which fosters long-term relationships and provides investors and business partners with unrivaled service.

Their dedicated servicing team collaborates with borrowers to exceed their expectations by providing timely, customer-focused solutions.

Roundpoint actively purchases mortgage servicing rights (MSRs) from sellers of Fannie Mae and Freddie Mac loans via the RPX platform. Through that platform, they offer a variety of sub-servicing options, all of which can be tailored to a specific investor’s needs for private portfolios.

By compiling an index of essential home services products, the Homeownership Marketplace provides a convenient one-stop shop for customers to manage better and protect their homes.

RoundPoint Mortgage Servicing Corporation has maintained its position as a leader throughout some of our industry’s most difficult years by seizing opportunities, seeking out the best talent in the business, and providing our clients with the highest standards of integrity.

Who Owns RoundPoint Mortgage?

The merger of RoundPoint Mortgage Servicing Corporation and Freedom Mortgage Corporation was completed, according to an announcement. Freedom Mortgage, one of the country’s largest full-service mortgage companies and a pioneer in government and VA-insured lending, now fully owns subsidiary RoundPoint.

As a result of the transaction, Freedom Mortgage has risen to the top ten mortgage agency services in the United States, with a combined owned and sub-serviced mortgage servicing rights (MSR) portfolio worth more than $310 billion in UPB.

The agreement also expands Freedom Mortgage’s co-issue origination network and provides it with access to a live sub-servicing platform.

How to Apply for RoundPoint Mortgage loan

Requirements

The RoundPoint Mortgage loan program you select will generally determine your requirements, and you can expect the following from lenders:

If you choose an FHA loan, you may be subject to additional requirements.

  • Conventional loans require a credit score of 620 or higher.
  • A DTI of 50% or less is considered acceptable.
  • A loan-to-value (LTV) ratio of 90 to 97 percent is permitted.
  • FHA loans typically require a minimum credit score of 580 and allow for down payments as low as 3.5%.

Application details

Although RoundPoint does not specify any paperwork requirements, you will typically be required to submit the following documents when applying for loans:

  • A government-issued ID card with a unique Social Security number;
  • Form W-2 statements and tax returns for the last two years;
  • A list of assets, such as bank account statements;
  • List of liabilities, such as credit card statements;
  • Documentation proving the applicant’s financial standing, such as pay stubs and employment history, and expenses and charges.

How To Apply For RoundPoint Mortgage Loan

You can begin the loan application process on RoundPoint’s website, but you must speak with a loan officer to complete it.

The website lists the locations of its branches where loan officers work. The number of branches that can exist in each state is limited. As a result, if you live in one of the cities where components are present, an in-person meeting may be impossible.

To apply online,

  •  Begin by going to RoundPoint Mortgage Servicing’s website and clicking Get Started.
  •  Indicate whether you want to buy a new home or refinance your existing one.
  • Give specifics about the property you’re considering.
  • After receiving your contact information and employment status, a loan officer will contact you.
  • They will not check your credit right away after you apply. A credit check will be performed upon acceptance.

How to Pay for RoundPoint Mortgage

Set up recurring payments or make a one-time payment.

It is simple to set up and does not take long.

If you want to change or discontinue the service, RoundPoint will send you an email every month on the payment day you prefer.

Methods of payment

RoundPoint Mortgage Servicing Corporation by phone or online: 

Please allow one business day to process any payments you made by phone, online, or both. Please keep in mind that funds may not leave your bank account for up to three business days.

If you mailed us a check:

Please allow 7-10 days to process and receive it.

If the payment hasn’t been posted by then, check with your financial institution to see if it was cleared. When you contact RoundPoint, please be prepared to share that record if the check has cleared.

If you paid through a third-party bill-paying service

The money may have been deducted from your account before it reached us. You can contact the bill payment service to inquire about the payment’s status to assist us in locating the funds.

If you paid the previous servicer 

If you made a payment to your previous servicer, but your loan was transferred to RoundPoint, the payment will be sent within 60 days of the transfer date.

Please allow 7-10 business days for shipping and receipt.

If the payment hasn’t been posted by then, please check with your financial institution to see if it was cleared.

If you contact RoundPoint Mortgage, please be prepared to share that record if the check has cleared. You can find instructions for sending future payments here.

https://www.roundpointmortgage.com/payments

How do I sign in to RoundPoint Mortage?

Click the link below to view or edit account information, set up payments, and more.

SIGN IN

What exactly is digital servicing?

Servicing Digital is an online account management system. You can use this tool to self-serve the majority of your mortgage needs.

You can use Servicing Digital to:

  • View loan balances;
  • View escrow balances and disbursement activity;
  • Enroll in one-time or recurring Automated Clearing House (ACH) payments; and
  • Enroll in one-time or recurring ACH payments.
  • View loan documents such as Welcome Letters, Billing Statements, Escrow Analysis Statements, Year-End Statements, and Privacy Notes.

Keep in mind that only documents from the previous 14 months are available for viewing.

How do I request a payoff statement?

The repayment of your mortgage sounds exciting! To begin the payoff procedure, click here. This option allows you to submit your payoff request electronically.

If you were paying off your mortgage and were using a bill-pay service or an Automated Clearinghouse (ACH) with RoundPoint Mortgage Servicing Corporation, please make sure to stop or delete any future payments at least five (5) days before sending the funds.

Is there a fee to request a payoff?

Depending on the state and type of loan, payoff quote costs range from $0.00 to $60.00 per request.

What are RoundPoint Mortgage Servicing Corporation’s contact details?

You can reach RoundPoint by phone at 877-426-8805.

Their offices are open Monday through Friday from 8:00 a.m. to 9:00 p.m. EST and Saturday from 10:00 a.m. to 3:00 p.m. EST.

If you require any additional information, please contact servicinghelp@roundpointmortgage.com.

You can write to the following address if you need information about your loan’s servicing or if you find an error in the servicing of your loan:

RoundPoint Mortgage Servicing CorporationbAttn: Correspondence

 PO Box 19789 Charlotte, NC 28219-9409 

You can also chat with the customer service representatives by visiting the website below. Click here.

You can chat with us from 8:00 a.m. to 9:00 p.m. EST on weekdays and 10:00 a.m. to 3:00 p.m. EST on weekends.

What is the website of RoundPoint Mortgage?

Website address: https://roundpointmortgage.com

Review of RoundPoint Mortgage

“We started a refi with Loan Depot in September, which we had previously used for our home loan earlier this year. Since Using RoundPoint, it has been a good experience, just slow customer service.”

“I found RoundPoint on Zillow, and their rates were simply unbelievable; they have no lender fees, so the only costs are minor third-party fees.”

“My loan officer, Chas Bieckert, was incredibly helpful, nice, and much of a gentleman; he responded right away when I called him with any questions,” said the borrower.

Payment processing is extremely slow, possibly with a late fee. There is no way to reach a live customer service representative.

FAQs on Roundpoint mortgage Review 2023: Interest Rates & Plans

What are the criteria for RoundPoint mortgages?

RoundPoint Mortgage Servicing expects lenders to require a minimum FICO credit score of 620 for conventional loans, a debt-to-income (DTI) ratio of 50% or less, and a maximum loan-to-value (LTV) of 90% to 97.5%. down payment of 3-10%. However, these are not written on the website unless you speak to a loan officer.

Is it possible to get a mortgage with bad credit?

Credit scores of less than 720 are still acceptable. RoundPoint conventional loans accept FICO credit scores as low as 620. Contact a loan officer at RoundPoint Mortgage Servicing Corporation if you are concerned about your credit.

Conclusion

Most of the reviews complained of slow processing and poor customer service. If that is something you can work with, by all means, use RoundPoint Mortgage.

References

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