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RoundPoint Mortgage Company is a wholly owned subsidiary of an opportunistic investment firm named TravelStock Group.
TravelStock Group saw the incredible opportunity that existed in online mortgages back in 2007 due to the real estate boom. They quickly formed RoundPoint Mortgage to hop on this cash cow. Today TravelStock Group runs a number of companies in multiple countries around the world.
Officially, RoundPoint Mortgage was started in 2007 as a refinancing program to help customers stay in their homes, although many of their mortgage products with noteworthy rates today are only available to those with stellar credit scores and large loan needs (usually $500k +).
RoundPoint is licensed to originate loans within 47 states (excluding California, Nevada, Florida, and Maryland) and the District of Columbia. Additionally, RMC maintains FHA and USDA approvals and utilizes a group of best-in-class strategic partners.
RoundPoint Mortgage Rates:
|30 year fixed||3.375%||3.552%|
|20 year fixed||3.250%||3.372%|
|15 year fixed||2.750%||2.888%|
(The interest rates above assume a $300,000 loan with 20% down and zero points.)
Their is a 7 step process to obtain funding for a home loan through RoundPoint Mortgage. 1) The first step involves filling out a web form with the desired mortgage or refinance product you are looking for. 2) After reviewing their fee structure you fill out an application. 3) Lock in your loan. 4) Send them your information – W2s, pay stubs, etc. 5) Mortgage loan is processed. 6) Sign. 7) Funded and closed.
RoundPoint Mortgage Complaints and Reviews:
As with any online lender there are no shortage of complaints surrounding RoundPoint’s mortgage services. We tend to focus on their BBB (Better Business Bureau) rating rather than ratings and reviews listed on other sites as they can sometimes be manipulated by people within the company.
RoundPoint Mortgage has an A- rating on the BBB with 23 total registered complaints – all of which have been closed and resolved. Of the 13 complaints the majority (13 to be exact) had to do with problems with the actual product or service, 9 had to do with misleading advertising or sales and just 1 had to do with billing or collection issues.
Do you have personal experience in the home loan or mortgage process with RoundPoint Mortgage? If so, please leave your feedback below!