RoundPoint Mortgage Servicing Corporation, one of the nation’s top 15 non-bank mortgage servicing companies, announced it has replaced two of its existing debt facilities with a new, $650 million facility. Under the new facility, the credit commitment has increased by over $300 million.
“We’re pleased that Bank of America is able to assist us to obtain greater capacity to seek additional strategic investments,” said Kevin Brungardt, Chief Executive Officer of RoundPoint. “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.”
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. The facility will also help RoundPoint maintain its position as one of the leading co-issue mortgage servicing rights purchasers. The company’s debt facility was led and syndicated through Bank of America.