Round Point Mortgage Mortgage Complaint

Conventional adjustable mortgage (ARM) Loan modification,collection,foreclosure

Round Point Mortgage Mortgage department,

Conventional adjustable mortgage (ARM) Loan modification,collection,foreclosure California

I entered a mortgage loan agreement with Roundpoint Mortgage for a short-term loan on an investment property located @ - - - in -, Ga. When the loan became due, the market did not support selling the property, so i sought a loan modification. Surprisingly, this process took well over eighteen ( 18 ) months, with the lender CONSTANTLY requesting updates on paperwork, e.g. my income, account balances, etc. When the modification was finally offered, it was not based on the amount i had owed at the time the loan expired, but included the months of payments during which the loan had been in abeyance. [ Please note that i had continued for the first 6 or 7 months of the process to send my former monthly payment amount ( in excess of $1200.00 ), but Roundpoint always sent back my payments, saying they would only accept the full loan balance. The result was that at the time of the Modification Offer, a huge amount had been added to the principal, making my monthly payments HIGHER THAN THEY HAD BEEN BEFORE (! ), and i clearly was not able to make these payments.


that the offer must be for $170000.00 or more. I put the property back on the market, and my realtor obtained a signed contract for the requested amount. Meanwhile, the Buyer relocated to the area of the home, pending CLOSING. [ Please note that foreclosure proceedings ( i believe not in good faith ) had been re-instated ]. THREE DAYS before the scheduled closing WITH THE OFFERED AMOUNT THAT ROUNDPOINT HAD REQUESTED, Roundpoint proceeded with foreclosure!!! This is despite the fact that all along i had agreed to sign the deed to the property over to Roundpoint, & only went through the Short Sale at their request. Their foreclosure disrupted the Buyer, cost my Realtor her anticipated commission, and left me with a credit report reflecting a foreclosure which has worked to my severe detriment since the time the foreclosure was entered -/-/2016. I would like Roundpoint to be compelled to delete the foreclosure. I would like my credit report to show a " Deed-in-lieu '' or some other disposition of this transaction that does not have the significant & severe impact on my credit report & my credit score, I will greatly appreciate any help you can give.

Round Point Mortgage customer in California
Jan 01, 2017

* Source: CFPB Complaint Database

Round Point Mortgage response to complaint:
Closed with explanation

Created with Highcharts 4.2.3Round Point MortgageComplaint HistoryComplaints3/20127/20128/20129/201210/201211/201212/20121/20133/20134/20137/20138/20139/201310/201311/201312/20131/20142/20143/20144/20145/20146/20147/20148/20149/201410/201412/20141/20152/20153/20154/20155/20156/20157/20158/20159/201510/20151/20162/20163/20165/20166/20168/201610/201611/201612/20161/20173/201702.557.51012.5Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Round Point MortgageLoan modification,collection,foreclosure0.7%98.5%0.7%ClosedClosed with explanationUntimely responseSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageLoan modification,collection,foreclosure0.2%7.4%6.9%0.6%2.6%0.9%80.5%0.9%Untimely responseClosed with non-monetary reliefClosed without reliefClosed with reliefClosedClosed with monetary reliefClosed with explanationIn progressSource: Consumer Financial Protection Bureau

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