RoundPoint Mortgage Deed In Lieu Of Foreclosure

Roundpoint Mortgage Deed In Lieu of Foreclosure Process

If the servicer of your loan is Roundpoint Mortgage and you want to apply for the deed in lieu of foreclosure then we at ACG will make sure that you go through a standard and similar to other companies procedure:

1. A team member from our team will have to call your loan counselor at Roundpoint Mortgage to initiate the process.
2. A paperwork called as Roundpoint Request for Mortgage Assistance (RMA) will also be required for the process to be completed
3. You may have to undergo a review on the Loan Modification before being considered for Deed in Lieu Of Foreclosure.
4. To prevent themselves from the liability of owning the property Roundpoint Mortgage may ask you to first sell the property to someone else.
5. Getting your property title checked is the next process.
6. The investor will require from Roundpoint Mortgage to do a valuation on your property
7. Next, our team will have to negotiate the terms with Roundpoint for relocation and timeframe.
8. As the last step of the process, the lender will make an answer to your application of Deed in Lieu Foreclosure made to them.

The steps mentioned above sound very easy to go through but in reality they are a lot difficult. You will have to face a lot of difficulties while working with them. Our company ACG is here to make sure that the process goes smoothly so you have nothing to worry about. While going through the process you may have to often repeat certain steps again and again. We know that we will have to run around from department to department after a decade of experience. Maybe you have been trying to get approved for loan modification for a long time and maybe they have to close the file or review it. Most important of all is you figure it out when they are sending you in the wrong direction. Most of times, clients come to us after submitting the wrong information on their deed in lieu application, getting denied, and not being able to figure out what happened.

Roundpoint Mortgage Deed In Lieu Timeline

The timeline of the DIL process for Roundpoint Mortgage similar to other companies varies greatly. Sometimes it is easy to figure out what is going on but not always. These are just a few of the hoops we jump through when dealing with a deed in lieu with Roundpoint Mortgage.

• To begin with, Roundpoint Mortgage is a company that only services mortgage notes and they are usually representing interests of an investor. Due to the involvement of the investor Roundpoint has to follow a set of rules that is called as “PSA” or Pooling and Servicing Agreement that governs the pools of mortgages they service. The PSA is like a  contract between servicer and beneficiary of the mortgage note. This means that Roundpoint Mortgage is restricted to making only some decisions themselves and get permission for other decisions. Some investors such as Fannie Mae (FNMA) and Freddie Mac (FHLMC) have pulled almost all decision making authority from many servicers and take care of many of the decisions themselves. As always the greater the number of hands in the put the more layers of bureaucracy you’re going to deal with.
• Additionally, If your loan has a sale date then this will also have a huge impact on the timeline of your DIL application. If we have to stop the sale so that the DIL process can be completed then they become very difficult to deal with. A company of this kind of size has sale dates for about every day of the week so they do not work quicker. Due to this, the applications are not worked as urgently as you want them to. Remember this business is a first come first serve but it is also influenced by foreclosure status and proximity to the sale date.
• Finally, not all negotiators were created equally. This goes for both sides which is what makes the process so tricky. In case of miscommunication, you will be headed for certain failure. It is a specialized skill of understanding this niche of representing homeowners in front of Roundpoint Mortgage for Deed In Lieu of Foreclosure Application. Often you will be put through the multiple levels of management including approval from an investor as mentioned above depending on what their total losses are for the banking institution who owns the interest in the loan.

Roundpoint Mortgage Deed In Lieu Timeline Conclusion: The timeline of the DIL process for Roundpoint Mortgage depends on the factors mentioned above but many other factors too. The decisions that they have to get approval for will be made a little late. If you have other liens this is also likely to limit your ability to complete a deed in lieu. How fast Roundpoint Mortgage’s Loss Mitigation department receives the Roundpoint Mortgage Deed In Lieu Forms to apply for mortgage assistance are received (readable) and other factors will come together to affect how long it will take for your Roundpoint Mortgage Deed In Lieu application will take to be Approved.

How To Fix Roundpoint Mortgage Deed In Lieu Decline?

The reason as to why your application for DIL was denied can often be quite confusing. The reasons we have seen go back to as the miscommunication being important. They will not often tell you clearly why it happened or even if anything can be done to fix it. Here at ACG we review dozens of points in order to understand why your Roundpoint Mortgage deed in lieu offer was rejected. Have us review your declined deed in lieu for free by calling us at 888-934-3444.

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