RoundPoint Mortgage Servicing Escow. Nightmare. . Charlotte North Carolina

Roundpoint purchased my mortgage in January 2018. I ended up buying my home outright after 8 months of dealing with these incompetent escrow scammers. My property taxes would have been due in 4 months (12/2018), and I just didn't have the time, nor the patience, to face the inevitable screwup that I KNEW was coming.

The only task these folks have mastered is the art of the "new escrow analysis". Every time they f-up something, they get to do an escrow analysis and increase the amount you owe towards the non-existent escrow shortage that THEY created. For example: I DO owe property taxes to county "A"... so RPM decided that I will ALSO owe taxes to county "B"... They decided I owe property taxes to two counties.

Since they anticipated that they'd be paying full property taxes to TWO different counties, my escrow account was insufficient to cover double taxation. Here's how they fixed it: "That'll be an additional $300 bucks towards escrow". Multiple phonecalls to correct the problem went without action. Well... not entirely true... they DID, at one point, have me also owing taxes to a THIRD county that they randomly chose from a list of hundreds of counties in the state of TEXAS...I will give them credit for this: they removed the third taxing authority and just settled at two...so they did sorta do something right. Whoopee for me.

They plan to pay my property taxes twice. Then they paid my hazard insurance from my escrow account to the wrong insurance company. My records clearly indicated who to pay, where to pay, and how much to pay. But, for some unknown reason, RPM sent a payment to the wrong insurance company... to an address that had nothing to do with payment processing for that wrong company.

I had to pay my own hazard insurance out of pocket while I dealt with RPM and the longest, most frustrating effort to get a stop-payment issued on the erroneous check. It took a month... and here's how they fixed it: by taking an additional disbursement out of my escrow account for the second check. This made my escrow account shortfall even bigger and better than before...and the "new escrow analysis" quickly followed.

It took a formal letter and hours on the phone to get that money returned to my escrow account. But...now that they anticipate duplicate hazard insurance and duplicate property taxes...they want to charge an additional $98/mo toward escrow on top of the additional $300 they're charging me just for their tax screwup. The thought of spending more hours on the phone to try and straighten out who to pay, where to pay, and how to pay my property taxes is exhausting.

I paid off my mortgage just to get these people out of my life and my finances. Avoid this company at all costs. Customer service department will take your information and pass you off to an insurance specialist...who will get all your information and pass you off to the escrow department...who will get all your information and... it quickly becomes clear that none of these departments communicates with the other departments. So, it does no good to try and bypass the phone tree and go straight to the "correct department"... no one will have any information or any record of the fifty times that you already contacted RPM.

Send a formal "NOTICE of ERROR" letter... it seems to be the only means of contact that's effective. At least they are forced to send you written confirmation that they got YOUR letter. My best advice is to avoid this company completely! And if you think you can refinance to get away from them...? Be aware that banks can't legally refinance if they are offering terms and/or interest rates that are worse than your current mortgage servicer. If you got your current mortgage during a period of low interest rates, you may end up stuck with RPM and their incompetence...like it or not.