Consumer complaint received 2019-08-11
Company: RoundPoint Mortgage Servicing LLC
State: KY
Product: Mortgage
Sub-product: VA mortgage
Issue: Struggling to pay mortgage

Complaint:
This property has been under contract since XX/XX/2019. 

On XX/XX/2019 Roundpoint Mortgage confirmed that they have received all documents needed for the short sale review. 

On XX/XX/2019 we received a counter offer from the investor. 

The short sale was declined on XX/XX/2019, due to insufficient offer. 

The decision has been presented to the buyers right away and received a reply that they are going to submit a value dispute. 

I received the complete supporting documents for value dispute as of XXXX19.  They said they are just being held up by the home inspection. 

I resubmitted the complete short sale package again and the complete supporting documents for value dispute as of XXXX19. 

Note : the initial offer is {$160000.00}. The buyers counter offer is {$200000.00} along with the supporting documents. 

Roundpoint Mortgage confirmed that the documents were deemed complete as of XX/XX/19 and it has been forward to the underwriter for short sale approval. The estimated timeframe for the decision provided was a maximum of 30 days. 

- Weve monitored the file almost everyday for update and to expedite the process as well. 



See Call notes below for additional information. 



XXXX19 - No decision yet on the short sale approval as of today. They have just gotten the title back on XX/XX/XXXX. They advised me that it's still under review, and to give them more time since they're reviewing for the Bankruptcy at the same time which has taken a bit longer, together with the uploading and imaging. They added, surely by next week they will have a decision. 



XX/XX/2019 Called Roundpoint Mortgage via XXXX and spoke to XXXX XXXX ( SPOC ). I asked her if they already have an update on the short sale approval since its been over 30 days already. I explained to her that we were told that the decision will be issued either XX/XX/XXXX or XXXX. She said the file still under review and they are doing their best that they can provide a decision as quickly as possible but at this point, they are still waiting on the investors decision. She also confirmed that on the XXXX of XXXX they sent out a letter to the borrowers address regarding an extension to their review. This file has been escalated already to the higher management to expedite the process.

XXXX19 Called Roundpoint mortgage and spoke to XXXX . She advised me that the status is still 'pending ', she said that short sale can take up to more than 30 days. She confirmed that the documents are complete and was forwarded to the processor on XXXX of XXXX. The value was ordered on the XXXX. As of XXXX XXXX.  2019, notes from the liquidation supervisor said that once they received the value then they'll continue on the review. Will monitor the file. 

XXXX19 Called Roundpoint Mortgage via XXXX and spoke to XXXX XXXX . I asked her if they already have an update on the short sale approval letter since its been over 30 days already. She said the file still under review and they are doing their best to provide a decision as quickly as possible. At this point, they are waiting on the investors decision. While on the phone she sent an email communication to her manager to follow up on the escalated file. 

At this point, we are no decision yet and the file still under review and waiting for the investors decision. 

Can you please assist in making Roundpoint escalate this file? Thank you for your assistance with this matter.

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