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***Looking for information regarding the 07/01/22 transfer to Fifth Third Bank? Click here
If your loan is transferring FROM RoundPoint Mortgage Servicing Corporation to a different loan servicer, you likely have questions. Don't worry, the following explains each step of the process:
Note: If your loan is transferring TO RoundPoint Mortgage Servicing Corporation from your previous servicer instead, get more info here.
Here’s how the
loan transfer process works
|Within 15 days of your loan transfer, RoundPoint will send you a letter providing notice of the transfer and outlining the name and contact information of your new servicer.|
|Within 15 days of your loan transfer, you may receive a call from our team. We use this as a chance to express our appreciation to have had the opportunity to service your mortgage, and to ensure a smooth transition from RoundPoint to your new servicer.|
|The day your loan transfers from us, the new servicer will begin the loan on-boarding process. If you call in after your transfer date, our automated system will immediately provide you with helpful information about the transfer process and your new servicer.|
|10–15 days after your loan transfers from us, you will receive a welcome letter from your new servicer providing you with all relevant account information as well as your first billing statement from the new servicer.
Note: Under Federal Law, during the 60-day period following the effective date of the servicing transfer of your loan, a loan payment received by your old servicer prior to the due date may not be treated by the new loan servicer as late, and a late fee may not be imposed on you.
If you recently received a letter stating your loan was set to transfer to Fifth Third Bank on 07/01/22, please be advised the transfer is no longer taking place. Your loan will continue to be serviced by RoundPoint Mortgage Servicing Corporation. No action is needed on your account, as nothing has changed.
If you recently sent a payment to Fifth Third Bank, that’s okay; they will forward it to RoundPoint. If you are enrolled with RoundPoint to have your monthly mortgage payment automatically drafted from your bank account, this service will continue and will draft as scheduled. If you use your bank’s automatic Bill Pay service, please be sure RoundPoint is listed as the payee recipient.
There will be no adverse impact to your credit and no late fees will be assessed due to this change.
We apologize for any inconvenience this may have caused. In the meantime, please visit your Servicing Digital account to review all account details.