RoundPoint Financial Group and RBS Financial Products have partnered to buy a 40% stake of a $603 million mortgage loan portfolio from the Federal Deposit Insurance Corp. The FDIC retains a 60% equity interest in what is a newly created venture that will acquire the pool of mortgages. RoundPoint Capital Group and RoundPoint Mortgage Servicing Corp. will oversee the management and servicing of all loans in the portfolio. "Our participation in this transaction is another step in the execution of our strategy of being a fully integrated mortgage investment firm and demonstrates our commitment to the residential mortgage market," said Kevin Brungardt, CEO of RoundPoint Financial Group. The transaction is one in a series of structured sales of residential loan pools offered by the FDIC. It marks RoundPoint's second FDIC loan acquisition for 2010.  In April, RoundPoint bought a $491 million FDIC structured transaction. Charlotte, N.C.-based RoundPoint specializes in the acquisition, management, originations and servicing of mortgage loans. RBS Financial Products is a unit of Royal Bank of Scotland. Last week, the FDIC closed sales of 40% stakes in three similar newly created companies it set up to hold commercial and residential assets of 26 failed banks. Combined, the FDIC sold $620 million in unpaid principal on these portfolios for roughly $198 million, less than one-third of what the loans are worth. Write to Kerry Curry.