Consumer complaint received 2022-01-25
Company: RoundPoint Mortgage Servicing LLC
State: AL
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
We are having issues getting the remaining balance of our Supplemental Loss insurance check from Round Point Mortgage. At this time all work has been completed and we have had to use money from our savings to pay the contractor. Round Point Mortgage is doing nothing to assist or expedite this process. Below is a summary of the timeline of events since the damage occurred and our correspondence with Round Point Mortgage. 

XX/XX/XXXX : Our house suffered damage from a tornado. 

XX/XX/XXXX : Received a XXXX XXXX loss check in the amount of {$33000.00}. This was sent to Round Point Mortgage for endorsement on XX/XX/XXXX. 

XX/XX/XXXX : Called Round Point to check on the status of the check. We were told the check had been endorsed and mailed. 

XX/XX/XXXX : The roof and gutters were completed. 

XX/XX/XXXX : XXXX XXXX loss check for {$33000.00} was received and deposited. 

XX/XX/XXXX : We received a check from XXXX XXXX for supplemental items in the amount of {$12000.00}. This check was sent to Round Point Mortgage for endorsement on XX/XX/XXXX. 

XX/XX/XXXX : Spoke with Round Point Mortgage ; we were told they needed a summary of loss. A copy of the summary of loss was emailed to them. 

XX/XX/XXXX : Chimney cap was installed. 

XX/XX/XXXX : Spoke with Round Point Mortgage to get an update on the supplemental check. We were told there were claim documents that had to be completed by us and the contractor. The claim documents were completed and submitted on XX/XX/XXXX via email. The summary of loss was included with these documents. We continued to receive weekly calls claiming they were missing documents. We repeatedly confirmed all documents had been submitted and each time we were reassured everything was in order and the check would be sent. 

XXXX XXXX ( not sure of the exact date ) : I called Round Point Mortgage, they claimed again to have not received the Summary of Loss. We contacted XXXX XXXX and had them send it directly to Round Point Mortgage. During this phone call were led to believe we would receive the full amount of the supplemental check. 

XX/XX/XXXX : We received a check from Round Point Mortgage for {$6300.00}, a little over half of the amount of the original supplemental check. 

XXXX XX/XX/XXXX ( not sure of the exact date ) : I called Round Point Mortgage ; this is when they told us that an inspection was required prior to releasing the remaining {$6000.00}. We had reached the 95 % of work completion in XXXX and all funds should have been released then. We were not informed of the inspection requirement at that time. 

XX/XX/XXXX : Inspector came out to look at the work that had been completed and submitted the report and pictures. 

XX/XX/XXXX : I called Round Point Mortgage; was told they had not received the report. They said they would reach out to the inspecting company about the report. 

XX/XX/XXXX : I called Round Point Mortgage; was told they still had not received the report. They said they would reach out again to the inspecting company. 

XX/XX/XXXX : I contacted the inspector ; she couldnt explain why Round Point Mortgage didnt have the report. She said she would resubmit it and the photos. 

XX/XX/XXXX : I called Round Point Mortgage; was told they still had not received the report. They said they would reach out again to the inspecting company. 

XX/XX/XXXX : I called Round Point Mortgage; was told they still had not received the report. They said they would request a new inspection. 

XX/XX/XXXX : I called Round Point Mortgage; was told they still had not received the report. They said they would request the new inspection be expedited. 

XX/XX/XXXX : I called Round Point Mortgage; was told they still had not received the report. They said they would again request the new inspection be expedited. I informed them I would be filing a complaint with Consumer Financial Protection Bureau. At this point all work has been completed and I have used money from my savings to pay off the contractor.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation