RoundPoint Mortgage Company

Reviews 9

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Ryan B

Refinanced with this company. Rate lock and initial application on 04/13/2013. First Loan Officer was Allen John, the process was simple and he was very responsive to calls and e-mails. Rate: 2.65% with $3,950 lender credit, 15 yr fixed conventional. He said the process is about 30-45 days and initial closing date was scheduled for 05/28/2013. By 04/16/2013 I had uploaded all of the required documents to secure server (nothing complicated about our finances). Appraisal on 04/25/2013, appraisal report on 05/02/13 (came in above expected, good so far). Loan submitted to underwriting on 05/14/13, switched loan officer to Chad Groce (this is when the delays and lack of communication started). A few e-mails back and forth from Chad while I asked about closing date and he said it would be delayed with rate-lock extended at no cost. He also said they would add lender credit for lost interest due to delays. Finally assigned to a loan processor at Expertivity on 06/13/2013 (Anjali). Sent some more updated documents. I was unable to reach anyone about status for a few days (via phone or e-mail), then finally found out that Anjali had left the company and I was re-assigned to Bill Littel. Bill was more responsive, but still hard to get in touch with, especially by phone. After several days of being unable to reach Bill or Chad, I contacted each of their managers (Chris Meyer at Roundpoint and Sam Patel at Expertivity). Sam definitely got things moving for me. He responded to e-mails very quickly (within a few hours), and answered his phone much more frequently. Sam told me what was holding things up (final credit checks, verifications, expired documents from the delay, etc...). In the end, the refinance was given final underwriting approval, and a representative from Performance Title came to our house to sign documents and close the loan. Chris agreed to add $1800 lender credit due to the extensive delays. Closing date: 07/11/2013. Total time from application to closing: 88 days. Very frustrating to deal with during the whole process, but the rate is very good. Would not recommend for a purchase loan or anything time-sensitive. Expect to wait about 3 months to close on the loan.

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K S

You pay for what you get! This company is quick to give you pre-approval and tell you what you want to hear. They just want your appraisal money!! That is ALL! They will pre-approve you and then let you go through the home purchase process and drag your loan on and on through the underwriting process just to deny you at the last minute. These people are ridiculous. They could not even get the paperwork correct! The communication is horrible and their online paperwork system sucks. I had to upload the same documents over and over and over. My personal loan officer was Michael Durant and he was a complete MORON! I told him I worked in the oil industry from day one and that a majority of my income was from overtime and asked over and over and over if there was going to be a problem with this and he assured me that it would not be a problem..... sooooo... i signed a contract on a house. Paid the appraisal fee ($500), paid the home inspection ($350), and paid the termite inspection ($50). 2 weeks into underwriting I was starting to wonder what the hell was going on so I started bugging him for answers and he was kept saying "everything is fine, no worries"... then one day the story changed to "oh sorry, the underwriter doesnt like your overtime, your loan has been denied, I cannot help you". What a piece of work. I wish he would have told me this would have been an issue before I was almost $1000 dollars into this home! SCREW roundpoint mortgage. That is what I get for going to a "cheap" mortgage broker. Never again.. lesson learned.

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Bethany A

They have lower rates than most local banks, but there is a reason! Their customer support is horrible. I was in the process of purchasing a new home. Luckily I had 60 days from contract to closing; otherwise there is no way this company would have made it. Even with 60 days, it took me and my real estate agent calling them every day the last week in order to get final approval to close. The mortgage consultant was fine, but their preprocessing and processing departments are horrible. After their initial request, they came back 7 times asking for more additional information. My loan should be a slam dunk. I don’t have bad credit, steady well paid job, no other lines of credit, ect. But instead I got requests about why their company, round point, inquired about my credit to Experian. Well, duh? In addition to the frustrating requests, it would take them weeks to respond to my requests. They completely overestimated my closing costs because they wouldn’t acknowledge my earnest money or the fact that I paid the homeowners out of pocket. Bottom line: Only use them if you are willing to put in the extra leg work to make the loan happen and you have plenty of time! Update: Roundpoint did contact me after posting this review to get more information about their short comings and ways they can improve their process. Sounds like they are at least trying to improve their customer service. In no way did they pressure me to change my rating, but i feel like this should improve their rating slightly.

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Peter Kemph

My experience: As a first-time home buyer, I was unaware of the patience required to deal with the mortgage process. I had assumed it would be a simple, quick process, but it is more complicated than that, When I first contacted RoundPoint during the first couple of days in August 2013, I was under the belief that closing by the end of the month was definitive. However, by the time I agreed to switch to RoundPoint after a few days, I did not officially get started until 08/07/2013. After a challenging start - again after ignorantly assuming that getting the mortgage done by the end of the month was perfectly unproblematic - I came to the realization that closing in 22 days would be highly unlikely. After adamantly expressing my problem, several additional individuals came to my rescue: Lauren Liberto, Ed Powell, and Michelle Lesak. To their credit, they jumped on the problem and made sure I was actually able to close by the end of the month - which I did today at 12:00 PM! 22 Days to close my mortgage! Purchase loans are a bit different for those of us having to move out and are working on a deadline. They realized the pressing need of my problem and went above and beyond in solving the problem set before them. Kudos to RoundPoint! (not to mention the fact I saved a lot of money in the process....) And my apologies to Daphne Daye and Jerry Austen for my impatience; tact has not often been used in conjunction with my name - take care, guys! Sincerely, Peter K, Saint Louis MO

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MA

Matthew Clegg

My wife and I just completed a refinance transaction involving a conforming 5/1 ARM from Roundpoint. This is the fifth mortgage and/or refinancing that we have taken in our lifetimes, and it was by far the most cumbersome and time consuming. The loan officer initially stated that the loan would take 30-40 days to complete, but in fact it took 104 days from the initial loan lock to the disbursement of funds for payoff of the prior mortgage. There was very little transparency into the process, and we were never given a satisfactory explanation for the delay. Many of our emails and phone calls were not returned. In spite of this, we decided to be patient and stay with them because interest rates rose after we obtained our initial lock. Eventually, they closed the loan. Because of the long time to close, we had to make two additional unanticipated mortgage payments on our previous loan at a higher interest rate. Consequently, the actual cost to us of using Roundpoint was more than $1,000 above what it would have cost if Roundpoint had closed the transaction according to the original schedule that they proposed. UPDATE: About a week after I posted this review, I was contacted by Lauren Liberto, the Customer Advocate Manager for Roundpoint Mortgage. She was very helpful. I wish I had known about her several months ago. She gave me permission to post her contact information in case other Roundpoint customers are experiencing frustrations. Contact me and I can provide it to you.

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Diana Henderson

My loan was sold to these half cracked folks..in Nov.2012 a pipe busted in my house my insurance wrote the check with in 2 weeks by the way if you need insurance Amica Mutuarl is the only way to go. But Round point holy moly a HUGE NO!!!!!! I got a contractor to write it up and also a painter well they wanted w9 from all of them so I got that turned it all in.In the mean time I had the carpet replaced the painting done.Some of the almost all of the trim work and paid them out of my pocket. I need to get the laundry room looked at asap due to thats where the leak was but they wont come out here to see what has been done and give me MY MONEY NOT THEIR MONEY MY MONEY! these contractors dont work for free. Im at a stand still now they tell me they need a phone number for the painter I thought it was on the bill but its not now I called the only number I had for him and its not a working number.I cant take any more if they had took care of this when they got it maybe the number would be good..All I want them to do is their job!!!! Its March and they have not done a thing. Today Im going to get some one on this trust me...Im over the run around COME to my house and see the work Ive ASKED AND ASKED! now im going to see what the BBB can do to help me.. I Want to put a big fat 0 on the review and when this is over I will be getting it away from these jack legs..do your self a favor find a real Mortgage comp.

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Dan Repko

If you are thinking about refinancing, I would highly recommend using anyone else. With RoundPoint, the entire process from start to finish took 3 months and the customer service was awful the entire way. My loan processor changed several times leaving little to no continuity throughout the process. The worst part came on closing day. I initially locked in my refinance at 4.25% with a $2,000, only to have RoundPoint short me hundreds of dollars on the credit they initially promised. Even though I gave them everything they needed, on time, they could not get their act together to process the loan. It took them so long to process my loan, they had to renew the rate lock extension, and for some reason I had to eat that expense. When I talked to management, they said they would not give me the agreed upon credit, and that I could just "walk away." As much as I wanted to, I was already in the hole a few hundred dollars from the appraisal fee. Just be warned that at RoundPoint, the customer takes the hit for a poorly run business. I have never seen such terrible business practice, however, I should have assumed this would have been the case from a less than reputable organization.

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MI

Mike Brown

I refinanced with them, that process went smoothly and I made my payments on time for about 3 months. This is a non-escrow mortgage and I was paying my taxes and insurance. RPMS decided that they would prefer to escrow, so they could use more of my money. They paid my homeowners insurance premium, but never told me. It took three months to sort that out. Then, I requested a payoff statement so I could be rid of them. They charged me $15 for the statement. When I received it, they had added $975 for "foreclosure fees and costs." However, I had not defaulted on any term of my mortgage. They incurred no foreclosure fees or costs because they had no right to foreclose. three long phone calls later, I finally got that sorted out and the fraudulent charges removed. But they added ANOTHER $15 fee for the corrected statement! Yes, I was able to have both fees removed, but I have to believe this is a pattern of dealing and that most title companies would simply pay those fees at closing. I have since paid my loan in full and am waiting for RPMS to release their lien and refund the excess interest that was paid, but not accrued.

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GA

Gaius Gracchus

Christopher was our loan officer. We are self-employed so this meant extra challenges for getting loan approval, and at certain points in the process we did become quite discouraged. But true to his word, we closed on time and according to the terms of our agreed rate (which was excellent). The other people involved included Sherman and a few others and all were professional and helpful. Furthermore, we signed up for the online payment web site and that worked well. There was an issue with the setup so we called for assistance on the helpline and they were professional and helpful as well. Highly recommended. [ Gotta say -- I am quite puzzled at the bad reviews here. I wonder if they are real reviews or just competitors writing fake ones. Ours is for real -- contact us at gaiusgracchus33 -at- gmail dot com for any questions about our experience. ]

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