RoundPoint Financial Group Purchases a Stake in $490 Million in Residential Mortgage Loans from FDIC; Arrangement Designed to Maximize Value Through Assisting Distressed Homeowners

CHARLOTTE, N.C., April 1 /PRNewswire/ -- RoundPoint Financial Group announced today that one of its subsidiaries has purchased from the Federal Deposit Insurance Corporation ("FDIC") a 50 percent stake in $490 million of residential loans.  This transaction, which closed today, is one in a series of structured sales of residential loan pools offered by the FDIC.

An affiliate of RoundPoint and the FDIC each own a 50% equity interest in the newly created venture which will acquire the pool of mortgages.  RoundPoint Capital Group will provide asset management services and RoundPoint Mortgage Servicing Corporation will service the loans in the portfolio.  

"RoundPoint's unique high-touch approach to special servicing and asset management creates value by aligning the interests of borrowers and asset owners," said Shaun Ahmad, President of RoundPoint Capital Group.  "RoundPoint's fully integrated platform and proprietary technology was specifically designed to address the needs of the current housing environment and help investors and homeowners find alternatives to foreclosure."  

Founded in 2007, RoundPoint plays an integral role in servicing delinquent and defaulted loans. The company is fully licensed and works with leading financial institutions, non-profit organizations and government entities.

ABOUT ROUNDPOINT FINANCIAL GROUP

Headquartered in Charlotte, North Carolina, RoundPoint Financial Group, Inc. is a fully integrated mortgage firm with four distinct subsidiaries focused on special servicing, asset management, originations and technology development.  RoundPoint Mortgage Servicing Corporation is a national mortgage servicer approved by HUD, Freddie Mac and Fannie Mae.  RoundPoint Capital Group, Inc. is an asset management firm specializing in residential mortgage loans and structured transactions.  RoundPoint Mortgage Company originates mortgages across the country and has created special programs to assist financial institutions in refinancing their distressed assets.  SBX Technologies, Inc is a leading edge technology company that creates innovative solutions for the mortgage banking industry with a focus on loss mitigation.    

For more information, please visit:  www.roundpointfinancialgroup.com

SOURCE RoundPoint Financial Group