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RoundPoint Mortgage Servicing Corporation has announced that it has been selected as the sole servicing partner by Point, the first financial technology platform that allows homeowners to unlock their home equity wealth without taking on new debt, for Point's growing portfolio of fractional residential real estate assets. Under the agreement, RoundPoint Mortgage Servicing will manage assets acquired by Point. Homeowners sell Point a fractional interest in their properties in exchange for a tax-deferred lump sum without interest rates or monthly payments. Within 10 years, the homeowner exits the agreement by either selling their home or buying out Point. Most homeowners use the capital to diversify their wealth, invest in their businesses, renovate their homes, or pay off debts.
"This type of innovation is critical to the continued growth of the housing market," said Kevin Brungardt, CEO of RoundPoint Mortgage Servicing. "We are delighted to have been selected as Point's servicer and we are looking forward to a long and successful relationship."
Point provides homeowners with a brand new finance solution that aligns homeowner and investor interests and, for the first time, investors can buy fractional interests in owner-occupied residential real estate through a digital platform.
"As demand for our product continues to grow, it is clear that both the extent and diversity of RoundPoint's asset management expertise make it the perfect partner for our unique product," said Eddie Lim, CEO of Point. "RoundPoint shares our mission to align our interests with homeowners and provide homeowners with a simple, fast and efficient experience, and our partnership enhances our ability to do just that."