RoundPoint Financial Group and MountainView Capital Holdings LLC announced that the formation of a strategic loan servicing relationship. Under the new arrangement, 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, which 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 immediately 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," said Mike Morgan, chief executive officer of MountainView. "This strategic arrangement is the result of a long, thoughtful search for a special servicer who shares our approach and philosophy. We can say with confidence that the alliance with RoundPoint will offer the best solutions and service for MountainView."
"We're very pleased to begin working with MountainView, which has a distinguished track record," said Vickie Lester, president of RoundPoint Mortgage Servicing Corporation. "This agreement highlights our commitment to delivering best in class special servicing for our clients and provides us with continued positive momentum."
For more information, visit www.roundpointfinancialgroup.com or www.mvcg.com.