CHARLOTTE, N.C., June 20, 2013 (GLOBE NEWSWIRE) -- Fitch Ratings announced Monday the upgrade of RoundPoint Mortgage Servicing Corporation's Primary Servicer rating for Subprime product to 'RPS3+' with a Stable Outlook and its Residential Special Servicer rating to 'RSS3+' with a Stable Outlook.
Fitch indicates the upgrade is a result of "RoundPoint's developed control environment, continued investments in systems and technology, experienced management team, and effective recruiting and training programs." According to Fitch, "RoundPoint exhibited improving performance metrics throughout its call center operations due to its enhanced telephony systems and increased web functionality for its loss mitigation processes and also increased staffing, training and reorganized its corporate governance infrastructure to meet its desired growth objectives."
"Over the last year, we have improved numerous aspects of the business – from investing heavily in technology and hiring senior-level industry veterans to growing our subservicing business," said Dave Worrall, President of RoundPoint Mortgage Servicing. "We are encouraged by Fitch's recognition of our efforts through our upgraded ratings."
RoundPoint has become a leading subservicer of loans in Ginnie Mae securities, with continued growth in this segment expected in the near future. In addition, RoundPoint has acquired servicing rights primarily through the Fannie Mae co-issue bifurcation program and has entered into several key partnerships to accelerate these activities in the coming year.
Founded in 2007, RoundPoint delivers innovative solutions for managing an array of residential mortgages. The Charlotte-based company leverages its wealth of experience in managing highly complex servicing relationships to provide superior value to its diverse client base, which includes international and regional banks, credit unions, private equity firms, and hedge funds. RoundPoint is dedicated to providing best in class customer service to its homeowners and institutional clients. As an approved Ginnie Mae, Fannie Mae, Freddie Mac, FHA, VA, and FDIC servicer, the company has market-leading expertise servicing loans in accordance with agency guidelines and managing the complex servicing requirements of loans involved in both FDIC loss share and structured loan sale transactions.
ABOUT ROUNDPOINT FINANCIAL GROUP
Headquartered in Charlotte, North Carolina, RoundPoint Mortgage Servicing Corporation is a fully licensed, agency approved national mortgage servicer The Company is a wholly owned subsidiary of RoundPoint Financial Group, Inc., which also operates a national mortgage lender, RoundPoint Mortgage Company. RoundPoint Financial Group is a Tavistock Group company. For more information about RoundPoint, please call 866.970.3863 or visit www.rpmservicing.com.
CONTACT: MEDIA CONTACT: Leanne Cassidy RoundPoint Mortgage Servicing Corporation (866) 970-3863 Leanne.Cassidy@roundpointmortgage.com
Source:RoundPoint Mortgage Servicing Corporation