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RoundPoint Mortgage / poor handling of va refinance

5032 Parkway Plaza Boulevard, Charlotte, NC, United States Review updated:
Contact information:
Phone: (704) 426-8800

I was put in contact with roundpoint through lending tree on january 26, 2012 to refinance my va loan to a lower rate. I was advised by the loan officer that the process is extremely efficient and consists of 3 primary steps, introduction & interview, disclosure review & commitment and processing. That with my cooperation, "the entire process from start to finish should take no longer than 21 calendar days." though I provided everything they asked for within hours of their requests, it has now been nearly 60 (Sixty!) days to complete what should have taken 21 days. Do not use roundpoint to refinance your va loan, unless you do not mind the process taking three, going on four times longer than it should. To address the ratings, it required multiple requests before I would receive what I asked for, their key person dependency on a single va certified underwriter demonstrates their poor knowledge of simple operational/reputational risk. The vp who finally advised me that the loan was taking an exorbitant amount of time to process due to an hr issue basically stated "it is what it is, but we will do what we can to expedite the process and get your loan closed" and contacted me only after rates started to climb. Now that the underwriter has been hired and the loan has moved to processing, it has taken three weeks (That same amount of time that it should have taken to complete the entire process). This has been a nightmare of an experience, and I urge anyone considering roundpoint to refinance their loan to strongly reconsider, find another lender.

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Comments

  • Wo
      22nd of May, 2012

    Agree completely. I am in the process now and they do not call back and keep the list of required items coming to no end. THEY ARE HORRIBLE!! GO SOME PLACE ELSE!!!

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  • Jo
      2nd of Jul, 2012

    21 days? Clearly you are ignorant on the turnaround times these days with the record rates. As far as document request, the mortgage investors including Fannie Mae and Freddie Mac have tightened up and lenders are required to gather more information to avoid buybacks. If you want to blame someone for the amount of documentation blame the government sponsored entities that set the regulations. You people are disgustingly clueless!!! You submit one mortgage application and now you are an expert, right?

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