Consumer complaint received 2018-05-30 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: RoundPoint Mortgage Servicing LLC
State: FL

Complaint narrative:
To start this complaint I must begin with, I had a burst water pipe in my home on XX/XX/XXXX. Our insurance company settled and issued a settlement check. We endorsed the check made payable to Our public adjuster myself and Roundpoint. My mortgage company Roundpoint furnished us at this time with the required forms that they needed to be completed so our insurance funds could be released. Roundpoint additionally requested a letter stating the experience I had to self preform the repairs to my property. I had a letter of intent to repair my property notarized as requested by Roundpoint.I sent these letters and completed forms with the endorsed check to Roundpoint mid XX/XX/XXXX. They confirmed they received these approx XX/XX/XXXX. We were informed at this point by a Roundpoint customer service supervisor on a phone call with our public adjuster that they would process these lettters, release the funds and we should have the check within 10 to 14 days. I hired a public adjuster to assist with the claim against my home insurance company. It has been approx 5 weeks, several phone calls later, two with our attorney and they still refuse to release the funds. Each time we call roundpoint, a Roundpoint associate in the claims loss dept will state they need additional information, we need to amend information that we have previously submitted or they are sending the information to processing to release the funds. All correspondence submitted to Roundpoint wether sent via fax or email takes 24 to 72 hours to be upload into their system for review per Roundpoint. Roundpoint stated on XX/XX/XXXX during a three way phone conference with our lawyer we had met the requirements for self repair and that the funds would be released on XX/XX/XXXX and we should have the check 5 to 7 business days later BUT we should call on XX/XX/XXXX to confirm the check has been processed for release. We called on XX/XX/XXXX and they denied to release the funds allegedly we failed to meet the requirements of XXXX XXXX and or we needed to furnish further information for XXXX XXXX who holds our mortgage. We initially had a conventional mortgage that was sold to Roundpoint, as of XX/XX/XXXX roundpoint has informed me that XXXX XXXX holds our mortgage. We called XXXX XXXX for direction on their policy and to discuss their denial to release our funds per Roundpoint and a customer service specialist from XXXX XXXX stated we have met their requirements and provided us with a copy of their policy ( insured loss event b-5-01 ). During my phone conversation with this XXXX XXXX customer support specialist, I was advised to proceed with a second level complaint ( case number XXXX ) against Roundpoint. The XXXX XXXX   customer support specialist stated they were not the reason as blamed by Roundpoint for our monies not being released. Roundpoint has never written any correspondence during this process, requesting additional information etc and when asked when we call they where going to notify us of their decision to withhold our monies? Roundpoint associates have continually advised it is our responsibility to check with the Roundpoint insurance loss claim dept regarding this issue. We requested the written policy of requirements for self repair and they have not provided us with this information. We have requested in writing and verbally information on the account our money is being held and they refuse to give us that information, one Roundpoint associate advised the money is gaining interest that will be sent to us upon settlement, another associate states the money is being held in an escrow account not an interest bearing account. We hired a public adjuster to assist with the insurance claim and he was named on the check sent to Roundpoint ( XXXX XXXX ) after four weeks waiting on his payment from the check sent to Roundpoint we contacted Roundpoint to find out the reason for the delay in his payment, we were then advised by Roundpoint they needed him to submit his XXXX and invoice to release his funds. He sent this information on XX/XX/XXXX, Roundpoint confirmed they received his information and would process his check for release immediately. XX/XX/XXXX we called Roundpoint to check on the status of his payment and they stated they did not receive his paperwork. Our lawyer resubmitted this information XX/XX/XXXX with the initial fax confirmation from XX/XX/XXXX. A Roundpoint associate advised it would take an additional 2 days to review the information and they could then send it to processing to release his payment. Roundpoint have now denied payment to the public adjuster stating they only pay contractors.Our lawyer requested an email from the associate confirming confirmation that they received the information. No email was sent the associate stated he was having technical issues. After speaking with XXXX XXXX  and finding out that we met their requirements for release of insurance proceeds payment myself and our lawyer called Roundpoint Mortgage Company back to question, not meeting XXXX XXXX requirements yet per XXXX XXXX we do. Our call was sent to a very rude associate who refused to connect our call to a supervisor to answer these questions. The call ended with Roundpoint claim loss dept is reviewing the latest letter sent XX/XX/XXXX, amended XX/XX/XXXXand resent to Roundpoint via email for release of payment and this will take 24 to 48 hours. Our attorney agreed with me to file this complaint, we truly believe when we call Roundpoint in two days after they have reviewed the latest submission requested there will still be additional information needed or some other reason not to release the funds. As of XX/XX/XXXX Roundpoint have issued to us an email from XXXX XXXX stating we are not experienced enough to repair our own home and we must hire a licensed contractor both conditions are above XXXX XXXX  own policy for loss incurred insurance policy. Yet either party will provide written policy for owner repair qualifications. Both myself and my wife have over 30 years and currently work in the construction industry. We have renovated and constructed several properties, we have renovated and upgraded several of the rooms in this property.

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