Charlotte, N.C.-based RoundPoint Financial Group and Denver-based MountainView Capital Holdings LLC have entered an agreement whereby RoundPoint will assume responsibility for servicing MountainView's residential mortgage loan portfolio.
As part of the alliance, MountainView will transition to RoundPoint all of its residential servicing currently performed by Prodovis Mortgage LLC, its wholly owned loan servicing platform. In turn, RoundPoint and MountainView will jointly develop and execute a customized plan for the MountainView portfolio that the companies say will allow MountainView to continue to maintain loan-level input and control over its portfolio. RoundPoint and MountainView have selected a dedicated team that will begin the plan's execution upon transfer.
The terms and total value of the portfolio arrangement were not disclosed.
‘RoundPoint's unique, high-touch approach to special servicing and its proprietary software, SBX, is closely aligned with our methodology in servicing loans and was clearly the best servicer for our portfolio,’ says Mike Morgan, CEO of MountainView. ‘This strategic arrangement is the result of a long, thoughtful search for a special servicer who shares our approach and philosophy.’