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Roundpoint changes management team after Freedom mortgage acquisition

After being a part of Freedom Mortgage, RoundPoint Mortgage Servicing Corporation has declared its new leadership team as it plans to expand its business outlets. 

The company has changed three executives positions on the 9th of April, 2021. Patrick McEnerney will serve as CEO, Joseph M. Gormley will serve as CFO, and Scott Bristol will serve as senior vice president of the retail business segment.

McEnerney was previously posted as the managing director of the multinational finance and investment firm, Deutsche Bank, for 14 years. In August 2020, he was appointed as the executive vice president of Freedom Mortgage, following the collaboration. He has worked in the mortgage banking and financial services sectors for over thirty years. Previously, he has served as EverBank's executive vice president, Priceline Mortgage’s president, Bank of New York Mortgage Company's president until entering Deutsche Bank.

Joseph Gormley, who previously worked for the Department of Housing and Urban Development in supervisory roles, has strong financial and housing policy expertise. He was the deputy assistant secretary of the Federal Housing Administration before coming to RoundPoint in March 2021. Over there, Joseph supervised FHA's

single-family mortgage insurance activities, covering quality assurance, information management program, origination and servicing policy. Gormley made his debut as a lawyer at two national trade organizations in Washington, D.C., where he operated on regulatory enforcement and government-backed mortgage lending strategies.

Serving in the retail mortgage industry for more than 25 years, Scott entered RoundPoint the previous week to rule retail lending. Bristol held positions at Flagstar Bank as an executive vice president and head of national mortgage development. At Flagstar, he directed the firm's retail mortgage approach, which included a technology roadmap for the business's retail chain mortgage service, an extension of its national presence, and loan servicing portal optimization to help loan officers. Moreover, he also headed Prime Lending as its president and state sales manager. Bristol had assisted in elevating the company's retail segment taking it from $2 billion to $15 billion in total mortgage revenue.

Based in South Carolina, Round Point has its other branches in Texas, Dallas, South Carolina, and Fort Mill, symbolizing the biggest American mortgage incorporation. The firm provides loan buying, loan servicing, mortgage origination, and a Homeownership Marketplace that allows consumers to conveniently utilize products and services of homeownership in one convenient location. It operates retail branch offices worldwide, with mortgage lenders specializing in local consumer expertise to ensure that consumers receive the right lending offer.

RoundPoint is glad to be a part of the Freedom Mortgage Corporation group.

Freedom, America's largest Federal Housing Administration and Veterans Affairs lender, had acquired RoundPoint. The transaction was completed bringing the New Jersey-based issuer's total retained and sub serviced consumer banking rights pool to $310 billion in overdue mortgage balance. It wasn't exactly a blissful courtship. When Freedom Mortgage threatened to pull out of the deal over a credit facility that RoundPoint took out in 2018, RoundPoint filed a lawsuit. Freedom sued the company, and thus the two firms agreed to a voluntary settlement. Roundpoint’s estimated current annual revenue is $204.1 million and its average income per employee is 210,000 dollars.

RoundPoint has changed its business away from controlling mortgage servicing rights, becoming mainly a sub servicer in past years, which could protect the business from home foreclosures in the following months as COVID-19 mortgage forbearance options cease.

McEnerney has expressed his excitement to have the chance to lead RoundPoint as it progresses, regarding the new placement. He said RoundPoint is currently developing a nationwide production network to be an important sub servicer. He is proud to become a part of a team of mortgage professionals and is looking forward to adding Joe and Scott to the family. Additionally, Patrick ensures that they will continue the firm's tradition of offering excellent customer service and will drive its operations into new directions.