We Are Here To Help
- State announcements and guidelines
- Federal announcements and guidelines (CARES Act)
- Fannie Mae, Freddie Mac, and Private Investor announcements and guidelines
- FHA, USDA, VA announcements and guidelines
Federally or GSE-backed Mortgages
Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and guidance from federal agencies and the GSEs, there are two protections for homeowners with federally or GSE-backed (Fannie Mae or Freddie Mac) or funded mortgages:
If you experience financial hardship due to the coronavirus pandemic, you have a right to request and obtain a forbearance for up to 180 days. At the end of the 180 days, if you are unable to resume your payments, you have the right to request and obtain an extension for up to another 180 days.
If you don't have a federally or GSE-backed mortgage, you still may have relief options through your mortgage loan servicer or from your state.
Temporary Payment Relief (Forbearance Plans)
If you have been financially impacted by COVID-19 and are unable to make your mortgage payment, you may qualify for a COVID-19 Forbearance plan, a temporary pause (suspension) of your monthly payments, while you regain your financial footing.
- Your payments will be suspended for 6 months (180 days)
- We won’t charge late fees
- We won’t report a past due status to the credit reporting agencies
- At the end of the 6 months (180 days), we will guide you through the next steps, which may include an extension of your COVID-19 Forbearance Plan, a deferral of the suspended payments to the end of the loan, loan modification, repayment, or reinstatement
- You can contact us at any time to reduce the term of the plan and or resume making payments and resolve any unpaid amounts
COVID-19 Forbearance Plan
Forbearance Plan Extension
If your COVID-19 Forbearance Plan is expiring soon and your financial hardship has not ended, you can request an extension of your suspended payments and accompanying protections.
For immediate help, call us at 877.426.8805.
If you were previously impacted by COVID-19 but are now able to resume your mortgage payment, we can guide you through the process to apply for all available payment deferral, loan modification, and repayment programs.
For immediate help, call us at 877.426.8805.
Making Your Payment
Please realize, the USPS may experience delays in processing and delivering payments sent in by mail. Your payments will be posted effective of the date of receipt. However, we recommend you:
- Sign up for electronic statements to ensure you are timely receiving the most up-to-date information about your account.
- Make your payments online. This is the safest and fastest way to process your payment. And there is no charge.
We remain firmly committed to addressing your needs, especially in challenging times. We are experiencing higher than normal call volume and longer than normal wait times. We apologize for any inconvenience and ask for your understanding as we work to serve all of our customers. We encourage you to fully utilize the website to avoid extended wait times.
If you have not set up an online account, now is a great time to do so. With an online account, you can:
- Access your account 24/7
- Update your personal details
- Make payments
- Set up automatic payments
- And, much more
Loan Application In Process
We are working diligently to process, approve, and close your loan. You may experience longer than usual response times due to historically low interest rates and higher than normal requests from our customers.
If you are applying for a refinance or new loan with RoundPoint, your financial hardship and payment forbearance will need to be resolved in advance.
We are working with our appraisal and closing partners to schedule appointments and to ensure the safety of all involved.
If you need to submit documentation, please continue to utilize the loan portal. Please note, documentation submitted via mail may be impacted by USPS delays.
Refinance and Home Purchase ELIGIBILITY While in Forbearance
We follow Fannie Mae and Freddie Mac guidelines. Recently, both Enterprises issued temporary guidance regarding the eligibility of borrowers who are in forbearance, or have recently ended their forbearance, looking to refinance or buy a new home.
Borrowers are eligible to refinance or buy a new home IF they are current on their mortgage (i.e., in forbearance but continued to make their mortgage payments or reinstated their mortgage).
Borrowers are eligible to refinance or buy a new home three months (90 days) after their forbearance ends, AND they have made three consecutive payments under their repayment plan, or payment deferral option or loan modification.
Yes. RoundPoint is operating under regular business hours.
i. Mon-Fri 8AM-9PM ET
ii. Sat 10AM-3PM ET
• In light of the stay at home orders across the nation, we encourage our customers to make online payments. The process is free, easy, and requires no human contact.
• Pay now.
• Payments can be mailed to PO Box 674150, Dallas, TX, 75267-4150.
• As your Servicer, RoundPoint works closely with your applicable Investor (e.g. Fannie Mae, Freddie Mac) and/or Insurer/Guarantor (FHA, VA, USDA) to determine your available payment relief options.
• During your hardship, your available payment relief option is a Temporary Forbearance Plan. A forbearance plan is a temporary suspension or reduction of your monthly mortgage payment for a fixed period of time (i.e., the plan's term) as prescribed by the Investor/Insurer of the loan. A forbearance is not a forgiveness of the suspended payments.
• At the end of the 6 months (180 days), we will guide you through the next steps, which may include an extension of your COVID-19 Forbearance Plan, a deferral of the suspended payments to the end of the loan, loan modification, repayment, or reinstatement.
No. You will not be charged late fees while you are on your COVID-19 Forbearance Plan.
Your mortgage will report as current and active on a COVID-19 Forbearance Plan.
• The suspended payments continue to accrue throughout the plan and remain outstanding at the end of the plan.
• If your financial circumstances have not improved by the end of the plan, then, depending on your loan type, your plan can be extended.
• If your financial circumstances have improved during or at the end of the plan, then we will work with you to evaluate all available options and determine the best permanent solution, like a Loan Modification, Payment Deferral, Partial Claim, Repayment Plan, or Reinstatement to bring the loan current.
Call us immediately to discuss all of your available options.
• Please do not cancel your plan unless you are sure you can continue making your regular monthly mortgage payment.
• Please know that you can still make payments while active on a forbearance plan.
• You can call us at 877.426.8805 to discuss forbearance cancellation.
We'll mail or e-mail your plan documents following the setup of your plan.
We are required to keep you updated on your contractual loan status. As long as you are on a plan, these notices are for informational purposes only.