For the last 10 years, RoundPoint Mortgage Servicing Corp. has done just what its name implied: service mortgages.
But that’s about to change.
RoundPoint is now getting into mortgage lending as well.
RoundPoint announced Wednesday that it recently launched a retail mortgage lending division, which is licensed in 42 states.
Up until this point, RoundPoint only serviced or subserviced mortgages. The Charlotte-based company currently services over $75 billion worth of mortgage assets, which are comprised of its own assets and loans subserviced for other investor types.
Now, the company is launching a mortgage lending division. According to the company, its mortgage lending operation is based in Charlotte as well and currently employs 174 people.
As for why the company chose to expand into lending now, the company said the initial reasoning for the move is to “neutralize RoundPoint’s portfolio run-off.”
But the company has plans to grow its lending operation.
Specifically, the company said that the next phase for its mortgage lending operation is to expand to purchase market opportunities.
According to RoundPoint, it is offering a “full suite” of mortgage options, including government-sponsored enterprise-backed loans, government and alternative financial products.
The company claims that its mortgage lending operation is built with “leading-edge technology,” but says what sets it apart is its approach to lending.
“RoundPoint’s more casual, relaxed, no pressure approach to mortgage lending is something we believe is distinctly different in the industry,” Kelli Yarbrough, vice president, said. “Education and empathy are the most important qualities we can offer to borrowers, and we make sure that human beings are available at every step of the process to answer questions and provide status updates.”