I contacted RoundPoint Mortgage in May with the goal of refinancing my mortgage. I refinace on average every two years and focus in on 7 year ARM's. RoundPoint had a very attractive interest rate and promised good service and fast closing. Well after paying $450.00 for the appraisal and receiving a never-ending number of requests for personal information I began to believe that I had made a mistake doing business with this firm. I received several information requests that had been satisfied weeks earlier. Duplicate requests were quite common. After 8 weeks of this baloney, I simply sent an Email to my contacts at RoundPoint and terminated my relationship. During the entire process, the company never offered apologies for redundant requests or the reason (s) for requesting personal information never before requested by other broker's/lenders. I contacted another lender in Carlsbad, CA and closed on my refinance in 2 1/2 weeks. I would tell anyone considering RoundPoint Mortgage to stay away.
By the way, my credit score and my wife's credit score exceeds 800. Poor credit scores and failure on my part to provide information to RoundPoint was in no way the reason for me to seek a professional mortgage broker. To forefeit the $450.00 appraisal fee was difficult but in the case of firing RoundPoint... The right thing to do. RoundPoint is very very poorly managed and future clients of this firm should be aware of this problem.
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