RoundPoint gets $650 million replacement facility via Bank of America

By Marisa Wong

Morgantown, W.Va., Aug. 31 – RoundPoint Mortgage Servicing Corp. announced it replaced two of its existing debt facilities with a new $650 million facility.

The new credit facility increases commitments by over $300 million, according to a press release.

The debt facility was led and syndicated through Bank of America.

“The new facility, which is available to RoundPoint until 2021, lowers our cost of borrowing and offers us significantly more flexibility in our long-term financing plan to continue our strong growth trajectory,” chief executive officer Kevin Brungardt said in the press release.

RoundPoint plans to use the facility to support its business, which consists of three primary lines: co-issue servicer, loan subservicing and mortgage origination/retention.

RoundPoint is a non-bank mortgage servicing company based in Charlotte, N.C.

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