RoundPoint Mortgage Servicing, one of the nation's largest independent mortgage servicing companies, has received a U.S. residential primary servicer rating for subprime products of RPS3+ and a U.S. residential special servicer rating of RSS3+ from Fitch Ratings.
‘We're very pleased that, during what has proven to be a difficult time for some mortgage servicers, Fitch recognized the innovation and dedication our team has put into this business and affirmed our ratings,’ says Dave Worrall, president of RoundPoint Mortgage Servicing, in a release. ‘We are very proud of what we are accomplishing, and this action is an affirmation not only of our ratings, but also of our successful approach to a complicated business during difficult times.’
The rating affirmations were based on RoundPoint's continued investment in its compliance management system, experienced management team and staff, increased automation, and enhanced servicing system and processes, the company says, citing Fitch's ratings report.
The ratings also take into consideration the servicer's effective staffing, recruiting and retention program, as well as its customer service.
The positive ratings also reflect RoundPoint's enhanced default management capabilities, effective staff performance incentive and management oversight programs, as well as the company's financial condition.
In addition, the ratings firm took into account RoundPoint's enterprise risk management practices, noting that RoundPoint ‘was fully compliant with its 2014 Regulation AB reporting and stated that it has no outstanding regulatory issues concerning its servicing platform.’
As of April, RoundPoint was servicing 249,162 loans totaling $46.9 billion, the company reports. This comprises 226,618 agency loans totaling $44 billion, 3,400 non-agency residential mortgage-backed securities loans for $610 million, and 19,144 loans serviced for others totaling $2.1 billion.