RoundPoint Mortgage has transformed dramatically since becoming part of Freedom Mortgage’s massive $310 billion mortgage servicing portfolio. When looking for a mortgage servicer, the numbers tell only part of the story.
Behind those impressive figures lies a company that now services over 378,000 additional customers following the merger with Freedom Mortgage. However, what about the quality of their customer service? In fact, RoundPoint’s recent history includes a $1.6 million settlement regarding convenience fees, with the company agreeing to cease collection of these fees for at least two years. Meanwhile, their new parent company paid $23.6 million for the acquisition, signaling major operational changes that directly impact customer experiences.
We’ve created this comprehensive review to look beyond the corporate announcements and financial reports. Most importantly, we’ll explore what actual customers say about RoundPoint Mortgage servicing, examine common complaints, and provide an honest assessment of whether this mortgage company deserves your business in 2025.
What Is RoundPoint Mortgage and What Changed in 2025?
RoundPoint Mortgage Servicing LLC began its journey in 2007 as a non-bank mortgage servicer and residential home loan lender. Throughout its history, the company has undergone significant ownership changes that have shaped its current identity. After being acquired by Freedom Mortgage in 2020, which initially increased their combined servicing portfolio to $310 billion, RoundPoint experienced another major transition in 2023.
Currently, RoundPoint operates as a wholly owned subsidiary of Two Harbors Investment Corp. (NYSE: TWO), specifically under Matrix Financial Services Corporation. This acquisition, completed for $23.60 million (tangible net book value plus a $10.50 million premium), has fundamentally reshaped the company’s structure and operations.
RoundPoint maintains offices in Fort Mill, South Carolina and Coppell, Texas, providing a range of mortgage services to homeowners nationwide. Their core offerings include:
- Purchase loans for new homebuyers
- Refinancing options for existing homeowners
- Home equity loans and second mortgage options
- Comprehensive mortgage servicing
Additionally, RoundPoint provides customers with “You Are Home™,” an online platform where borrowers can make monthly payments, check balances, download documents, and access various loan servicing options. This digital solution reflects the company’s effort to modernize customer interactions in 2025.
Unlike many competitors, RoundPoint positions itself as more than just a financial services provider. They emphasize their role as a “trusted partner on your homeownership journey”, suggesting a customer-centric approach rather than purely transactional relationships.
Related Posts
The company remains licensed to operate in all 50 states, the District of Columbia, and the U.S. Virgin Islands, allowing them to serve a diverse national customer base. Furthermore, the acquisition by Two Harbors was projected to provide annual pre-tax earnings of approximately $20 million, indicating potential financial stability despite the competitive mortgage landscape of 2025.
Consequently, today’s RoundPoint represents a considerably different entity than it was just a few years ago, with new ownership, expanded technological capabilities, and evolving service offerings.
Customer Experience: What Real Users Are Saying
Customer satisfaction tells a much deeper story about RoundPoint Mortgage than corporate statistics ever could. According to PissedConsumer, RoundPoint Mortgage Servicing’s customer service is rated at a dismal 1.2 out of 5. This aligns with the Better Business Bureau’s data showing 478 total complaints in the last three years, with 180 of those filed just within the past 12 months.
The complaints follow clear patterns. Service and repair issues lead with 170 complaints, followed by billing problems (140), and product issues (80). Although RoundPoint claims their “You Are Home™” online platform makes it easy to manage payments and access documents, customer experiences often contradict this promise.
Wait times typically average less than one minute, yet only 8% of consumers who contacted customer service reported their issues were actually resolved. Common frustrations include:
- Escrow account mismanagement, particularly with tax and insurance payments
- Unexplained payment increases without proper notification
- Difficulty reaching decision-makers for resolving complex issues
- Excessive late fees even for first-time payment issues
One particularly troubling trend involves PMI (Private Mortgage Insurance) removal requests. Multiple customers report waiting months beyond RoundPoint’s stated four-week processing timeline, essentially forcing them to pay unnecessary premiums.
Communication breakdowns appear frequently in customer feedback. According to complaints, representatives often provide conflicting information, promise callbacks that never occur, or claim documents were “mysteriously lost”. This creates particularly severe problems during insurance claims, when timely processing is critical.
Generally, customers whose mortgages were transferred to RoundPoint without their choice express the most dissatisfaction. As one customer stated, “Our mortgage was sold to Roundpoint against our will. They have not paid the proper taxes… causing us serious problems”.
Nonetheless, RoundPoint’s prompt phone answering statistics show they’re at least attempting to address the volume of customer concerns, albeit with limited success in actually resolving the underlying issues.
Legal, Financial, and Industry Reputation
Beyond customer experiences, RoundPoint Mortgage’s legal history reveals concerning patterns. The company faced significant legal challenges, including a $1.6 million settlement in 2022 over allegations of charging unlawful convenience fees for telephone mortgage payments. As part of this settlement, RoundPoint agreed to stop charging these fees for at least two years following final approval.
Moreover, RoundPoint paid $975,000 to Massachusetts in 2022 to resolve allegations of failing to adequately assist borrowers in avoiding foreclosure. The settlement addressed 57 federally backed mortgages serviced between 2016 and 2020. The company allegedly violated debt collection regulations by calling borrowers more than twice in seven days and failing to provide proper debt validation notices.
Prior to these settlements, RoundPoint faced other legal challenges. A class action claimed the company charged West Virginia consumers unlawful fees not permitted through their loan agreements. Additionally, RoundPoint settled a lawsuit regarding forced-placed insurance practices, where they allegedly required borrowers to purchase unnecessary expensive hazard, flood, or wind-only insurance.
On the financial front, RoundPoint’s business trajectory changed significantly after being acquired by Freedom Mortgage in 2019, making the combined entity the seventh largest U.S. mortgage servicer. Fitch Ratings affirmed RoundPoint’s primary servicer rating for subprime product at ‘RPS3’ with a positive outlook, noting the company’s “capable default performance, focused high-touch servicing approach, investments in servicing technology and internal controls”.
Subsequently, in August 2022, Two Harbors Investment acquired RoundPoint, with the deal closing in 2023. This acquisition reshuffled RoundPoint’s position in the industry once again, highlighting the volatility of their corporate structure amid ongoing legal challenges.
Conclusion
The Bottom Line: Should You Choose RoundPoint in 2025?
Looking at RoundPoint Mortgage holistically, their trajectory raises serious red flags for potential customers. Despite their acquisition by Two Harbors Investment Corp. and previous ownership changes, the company continues to struggle with fundamental customer service issues. Though they position themselves as a “trusted partner,” their dismal 1.2 out of 5 customer rating tells a different story.
Furthermore, their legal troubles cannot be overlooked. The $1.6 million settlement regarding convenience fees and $975,000 payment to Massachusetts over foreclosure assistance failures demonstrate systemic problems rather than isolated incidents. These legal challenges, coupled with consistently poor customer feedback, suggest deep-rooted operational issues that apparently persist through 2025.
Most concerning, perhaps, is the pattern of escrow mismanagement, PMI removal delays, and communication breakdowns reported by actual customers. While RoundPoint answers phones quickly, this efficiency means little when only 8% of callers report successful issue resolution.
Based on all available evidence, RoundPoint Mortgage appears to fall short of industry standards for customer satisfaction. Potential borrowers should certainly weigh these factors heavily before committing their mortgage to RoundPoint’s servicing. Alternatively, homeowners whose loans have been transferred to RoundPoint without their input might benefit from exploring refinancing options with more customer-centric lenders.
Last but not least, anyone currently dealing with RoundPoint should document all interactions thoroughly, given their history of communication issues. Undoubtedly, finding a mortgage servicer with better customer satisfaction ratings would provide greater peace of mind for your homeownership journey.
FAQs
Q1. What recent legal issues has RoundPoint Mortgage faced? RoundPoint Mortgage has faced several legal challenges, including a $1.6 million settlement over alleged unlawful convenience fees for telephone mortgage payments and a $975,000 payment to Massachusetts for failing to adequately assist borrowers in avoiding foreclosure.
Q2. How has RoundPoint Mortgage’s ownership changed recently? RoundPoint Mortgage is now a wholly owned subsidiary of Two Harbors Investment Corp., specifically under Matrix Financial Services Corporation. This acquisition was completed in 2023 for $23.60 million.
Q3. What are common customer complaints about RoundPoint Mortgage? Common complaints include escrow account mismanagement, unexplained payment increases, difficulty reaching decision-makers, excessive late fees, and delays in processing PMI removal requests.
Q4. How does RoundPoint Mortgage’s customer service rate? RoundPoint Mortgage’s customer service is rated poorly, with a 1.2 out of 5 rating on PissedConsumer. While wait times are typically short, only 8% of consumers report their issues being resolved.
Q5. What online services does RoundPoint Mortgage offer? RoundPoint provides the “You Are Home™” online platform where borrowers can make monthly payments, check balances, download documents, and access various loan servicing options.
