RoundPoint Mortgage is a mortgage company known for fast closing and low mortgage rates. On top of that, the company is willing to work with clients to find a different payment plan if they are faced with sudden financial hardship. In addition to offering mortgage assistance for those struggling financially, they provide military assistance for service members as a “thank you” for serving the country. This review on RoundPoint Mortgage services covers the loan process, pros and cons, and overall customer reviews of the company. Hopefully, this knowledge will help you come to a decision on where to obtain a mortgage.
RoundPoint Mortgage – Details and Overview
RoundPoint Mortgage Servicing Corporation is a subsidiary of RoundPoint Financial Group, which is part of the Tavistock Group. They are a borrower-focused company that prioritizes obtaining loans as quickly as possible for borrowers and creating a simple, satisfying experience. RoundPoint Mortgage mails a package to new customers that welcomes them and provides important account information.
RoundPoint Mortgage Loan Process Explained
You can download the form you need from their forms page to fill out and submit. When you become a customer of RoundPoint Mortgage, you’ll receive a welcome package and phone call to confirm all of your account information.
To start with, it’s easy to make payments to the company. You can set up one-time or recurring monthly payments on your mortgage with RoundPoint Mortgage Online. A RoundPoint account allows you to manage your contact information and review online billing statements too. Afterward, you’ll receive a billing statement two weeks after your account information has been boarded.
Additional payment options include paying by phone, Moneygram, or mail. The company charges a $10 fee if you pay over the phone through their automated phone system. On top of that, they charge $12 if you pay on the phone through a customer service representative. To send a payment to a Moneygram location, you must have your loan number and receiver code ready. The receiver code is 7302. Be aware that late fees vary depending on state restrictions and specific loan terms.
Types of Services
If you endure financial hardship after obtaining a loan, RoundPoint Mortgage is willing to work with you. Options they offer in mortgage assistance include reinstatement, forbearance plans, short sale, repayment plans, modifications, and deed-in-lieu of foreclosure.
This mortgage company also offers military assistance for service members. In other words, military members who enter active duty may qualify for a lower interest rate on their mortgage. However, lenders usually can’t impose an interest rate over 6% on debt that occurred prior to active duty.
Mortgage loan benefits for service members also extend 12 months beyond their period of military service. Reservists serving on active duty are eligible for military assistance at RoundPoint Mortgage. On the other hand, spouses of active duty military members are only eligible for benefits if they are jointly liable for account obligations.
PROs and CONs of RoundPoint Mortgage
- You can set up monthly recurring payments or schedule a one-time payment through an online account with RoundPoint Mortgage.
- They are a borrower-focused company.
- Fast loans.
- Simplifies the loan process.
- The company mails a package to new customers that provides important account information and welcomes them.
- You can set up one time monthly payments through your online account.
- You have the option to mail payments.
- They have an overnight payments mailing address.
- Some mortgages have grace periods. Length of time varies depending on the specific loan terms.
- The company offers mortgage assistance for those who fall into financial hardship.
- Some options clients can pursue during challenging financial times include modifications, repayment plans, reinstatement, forbearance, short sale, and deed-in-lieu of foreclosure.
- They offer military assistance for active duty service members.
- There is a $10 fee if you pay through the phone using their automated phone system and a $12 fee if you use a customer service representative to make the payment.
- They don’t accept payments via debit or credit card.
- The company’s website doesn’t inform you of which states they serve.
RoundPoint Mortgage Customer Service Review
Happy clients of RoundPoint Mortgage have cited the company’s low mortgage rates and fast closing as reasons they are satisfied with their service. In his review of the company on Yelp, Frank G. said:
I got the best mortgage rate I could get through RoundPoint and thank them for that.
However, RoundPoint Mortgage has received some negative reviews on their customer service as well. Some clients stated that the company’s customer service representatives never know what they’re doing. According to Brian Y., a client who had his mortgage sold to RoundPoint Mortgage:
Whenever you call customer service, nobody knows what they are doing. By far the worst mortgage company I have ever dealt with.
In his review on Yelp, he said that he called eight times and still didn’t receive his funds from canceling his escrow account.
- Phone Number: You can call RoundPoint Mortgage for customer service inquiries at 877-426-8805.
- Webpage: rpmservicing.com.
- Email: You can email RoundPoint Mortgage at ServicingHelp@RoundPointMortgage.com. If you’re applying for military assistance, send your email to SCRA@roundpointmortgage.com.
- Social Media: Facebook.
All in all, RoundPoint Mortgage is a good company to obtain a mortgage from. That’s because they simplify and speed up the process. Moreover, they offer mortgage assistance for clients who have trouble making their payments on time as a result of unforeseen financial hardship.
Another plus is that military service members benefit from their military assistance services. Therefore, they can acquire a lower interest rate upon going active duty. Although the company has received some negative reviews from clients who had their mortgages sold to RoundPoint Mortgage, they also have positive reviews from other customers.
Do you have any experience with RoundPoint Mortgage? Let us know in the comments below, whether positive or negative.