Consumer complaint received 2025-02-07 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: RoundPoint Mortgage Servicing LLC
State: TX

Complaint narrative:
In XXXX XXXX my wife and I had a catastrophic water damage at our house.

We opened an insurance claim, they sent an initial check of {$51000.00} to our mortgage company Roundpoint ( from here indicated as RP ). RP sent us {$40000.00} saving the remaining {$11000.00} for later, once the repairs would had been completed. This was XXXX XXXX.

We finalized the entire project at the end of XXXX XXXX We communicated the completion of the work to RP by email on XXXX, asking to please speed up the inspection process ( since they requested an inspection ). The 1st inspection was completed on XXXX  and the inspector sent all the info and pictures to RP right away. I waited for several days for RP to release the {$11000.00} to us, but nothing happened. I was also receiving continue requests from the water mitigation company ( called XXXX ), because RP was still holding their check of {$16000.00} issued in XXXX XXXX by our insurance company for the work they did. RP said that the check for XXXX was on hold because they needed an inspection. The funds to us and XXXX were not released, even after the inspection of XXXX. During my numerous calls, RP showed serious issues with keeping records on our claim and lack defined procedures to deal with my situation ( i.e. all the operators had no idea on the status of the claim and the inspections ). RP asked for a 2nd inspection. The 2nd inspection happened on XXXX, with actually the same inspector ( he called me for directions, since no directions were given to him and he did not know what else was needed, sicne the 1st inspection of XXXX  already showed 100 % completion ). Meanwhile, my insurance company finalized the review of my claim and based on all my receipts, they sent me an additional {$100000.00} to cover the repairs ; the check was sent to RP around mid XXXX XXXX Nothing was being released by RP, so I kept on calling. Friday XXXX XXXX I called, I told RP that Alacrity wanted to put a lien on the house and put me on collection because RP was still holding their XXXX XXXX check for {$16000.00} ( I also communicated this by email to RP on XXXX ) ; RP told me that the funds were not released because the inspection results were not entered in RP system ( this was 28 days from the inspection of XXXX  ), RP promised to release the funds within 3 business days. Friday XXXX : I called RP, they told me they needed the " intent to repair '' form, which I provided them right away. Friday XXXX I called again, RP told me they needed to schedule another inspection. Friday XXXX I called again, RP told me that they needed the insurance adjustor worksheet to reflect the {$100000.00} payment, which I provided them right away, they promised to release the funds within 3 business. Wednesday XXXX : I called again, RP told me that they need usually 5-7 business days to update the system. Wednesday XXXX  : I called again, RP told me that they need usually 5-7 business days to update the system ; when I pointed out that today was actually already 8 business days, then he changed the story and said now that they need to do an inspection to release the funds. 
It is worth noting that we never missed a single mortgage payment, even during those months when the house was not habitable. 
It is clear to me that RP do not operate with clear procedures, do not train adequately its own operators and is stalling the release of these funds to us. This is causing huge financial burden to us ( we already paid about {$160000.00} to all the contractors for the reconstruction ) and big mental/physical stress for our family.

Company response to consumer: Closed with explanation