Round Point Mortgage Mortgage Complaint

Conventional fixed mortgage Loan servicing, payments, escrow account

Round Point Mortgage Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Iowa

I sold my home and paid off my mortgage to Roundpoint Mortgage Servicing Corporation via wire transfer on -/-/16. I called them on that day to give them my new address and verify when my escrow balance and mortgage overpayment would be released. I was told by " - '' it would be sent in 20 days. I called again on - and talked to " - '' and was told a check had not been issued yet and that it could take up to 60 days. I requested and was told it would be expidited. I still have not received a check. Why are they allowed to hold my funds for that long when they received a wire transfer on the date of closing? If I am late on a payment I am charged a late fee. Why is Roundpoint not penalized ( and me compensated ) for their failure to pay ME promptly?

Round Point Mortgage customer in Iowa
Jun 03, 2016

* Source: CFPB Complaint Database

Round Point Mortgage response to complaint:
Closed with explanation

Created with Highcharts 4.2.3Round Point MortgageComplaint HistoryComplaints6/20129/201211/20121/20134/20136/20138/201310/201312/20132/20144/20146/20148/201410/201412/20142/20154/20156/20158/201510/201512/20152/20164/20166/20168/201610/201612/20162/20174/201702.557.51012.515Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Round Point MortgageLoan servicing, payments, escrow account0.6%98.5%0.3%0.6%ClosedClosed with explanationClosed with non-monetary reliefIn progressSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageLoan servicing, payments, escrow account2.3%80.3%4.0%5.8%1.1%5.1%1.2%0.2%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefClosed with reliefClosed without reliefIn progressUntimely responseSource: Consumer Financial Protection Bureau

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