North Carolina-based non-bank mortgage servicing company, RoundPoint Mortgage Servicing Corporation (RPMS), has been selected as a subservicing partner for Bay Point Advisors, LLC, an Atlanta-based private lender providing small and medium-sized businesses with secured, mezzanine, bridge and DIP financing.
“We are excited to add Bay Point to our diverse subservicing investor client base and we remain committed to partnering with organizations, such as Bay Point Advisors, as they continue to expand businesses and communities,” said Allen Price, SVP and Head of Business Development for RPMS, which services loans for a variety of investment banks, PE firms, hedge funds, mortgage banks, and credit unions.
According to Charles Andros, President of Bay Point Advisors, “RoundPoint is very responsive to our needs and we are delighted by the service they provide.”
Bay Point's Secured Lending group lends to small and mid-sized businesses where traditional loan sources do not exist and designs custom funding solutions that meet the unique needs of each business.
Kevin Brungardt, CEO for RPMS said, “We are delighted to have been selected as Bay Point Advisors' subservicing partner and look forward to providing a world-class customer experience to its borrowers.”
RPMS currently services over $75 billion worth of mortgage assets, which are comprised of its own assets and loans sub-serviced for many other investor types nationwide. It is licensed to service loans in all 50 states, the District of Columbia, and the U.S Virgin Islands and is publicly rated by Fitch Ratings (RPS3+, RSS3+), Standard & Poor's (Average), and Kroll Bond Rating Agency (BB). The company is a seller and servicer for Fannie Mae and Freddie Mac. It is an approved single-family issuer and servicer for Ginnie Mae and maintains current MBS issuer eligibility.
“RoundPoint has a good system in place to help private lenders like us assist business customers with expansions. We’re excited about collaborating with RoundPoint for our sub-servicing needs,” said Greg Jacobs, CFO at Bay Point Advisors.