RoundPoint Mortgage Servicing Corporation specializes in purchasing mortgage servicing rights and offering subservicing options to meet investor needs, according to the company's website. Mortgage servicing rights, or MSR, refers to an agreement where the original lender sells the mortgage to another party that focuses on servicing mortgages, notes Investopedia.Continue Reading
RoundPoint purchases MSRs from sellers of Fannie Mae, Ginne Mae and Freddie Mac loans and securities. The company also acts as an agency and non-agency subservicer to commercial banks, credit unions and hedge funds, per RoundPoint. Their special servicing solutions help service defaulted loans while ensuring limited losses for investors. RoundPoint's client base also includes international banks and private equity groups.
Borrowers are able to view their mortgage activity and pay their mortgage through the RoundPoint website. Several payment options are available, including recurring payments, paying by phone, using MoneyGram or mailing a check or money order, states RoundPoint.
Borrowers who are behind on their mortgage may contact RoundPoint by phone or email to find a resolution. Workout options are available for those who demonstrate hardship and fill out the other requisite forms, according to RoundPoint. Examples of workout options are special forbearance, mortgage modification, repayment plans and refinance. Special forbearance refers to temporarily suspending or lowering mortgage payments for a set amount of time.Learn more about Credit & Lending