In yet another sign of growing diversification among mortgage servicing companies, RoundPoint Mortgage Servicing Corp. has signed an agreement to manage assets acquired by Point, a financial technology platform that allows homeowners to, in essence, sell a piece of their homes.
Point gives qualifying homeowners a fractional interest in their properties in exchange for a tax-deferred lump sum without interest rates or monthly payments. Within 10 years, the homeowner exits the agreement by either selling his or her home or buying out Point.
Investors, meanwhile, can buy fractional interests in owner-occupied residential real estate via the Point platform.
“This type of innovation is critical to the continued growth of the housing market,” says Kevin Brungardt, CEO of RoundPoint Mortgage Servicing, in a release. “We are delighted to have been selected as Point’s servicer, and we are looking forward to a long and successful relationship.”
“As demand for our product continues to grow, it is clear that both the extent and diversity of RoundPoint’s asset management expertise make it the perfect partner for our unique product,” adds Eddie Lim, CEO of Point. “RoundPoint shares our mission to align our interests with homeowners and provide homeowners with a simple, fast and efficient experience, and our partnership enhances our ability to do just that.”
Elissa Kline, product manager for Point, says RoundPoint’s up-to-date technology infrastructure was a plus when it came time for integration.