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RoundPoint Mortgage Pay-to-Pay Fee Settlement

Settlement Structure: Claims Made

Active: Open

Case Summary:

This settlement resolves a class action alleging RoundPoint Mortgage charged borrowers pay-to-pay fees for making mortgage payments by telephone or IVR. The complaint claimed that RoundPoint’s charging of these fees violated the Fair Debt Collection Practices Act, state debt collection laws, and the terms of the borrowers’ loan agreements.

Docket Number:

3:20-cv-00250-MMC

Company: RoundPoint Mortgage Servicing Corporation

Filing Deadline: January 1, 2100

Class Period: January 1, 2016 to May 31, 2021

Objection Deadline: March 18, 2022

Exclusion Deadline: March 18, 2022

Final Approval Hearing: April 15, 2022

Proof of Purchase:

You do not need to provide proof.

Eligibility:

You may be eligible if you (1) were a borrower of a residential mortgage loan on a property in the US, and the mortgage was serviced by RoundPoint, and (2) you paid RoundPoint a fee for making a loan payment by telephone or IVR between January 1, 2016 and May 31, 2021.

Typical Settlement Amount:

Benefits: (1) Pro rata share of the net settlement fund based on the amount you paid in convenience fees. Payments will be made by check, or you can fill out a Payment Option Form by April 15, 2022 to choose an electronic form of payment or a MasterCard gift card. (2) RoundPoint has agreed to stop charging fees for payments made by telephone or IVR, starting June 1, 2021 and continuing for at least two years after final approval of this settlement.

Total Settlement Amount: $1,600,000

Class Representative Proposed Incentive Fee:

$5,000

Law Firms:
Bailey & Glasser
Tycko Zavareei

Claim Form: RoundPoint Mortgage Pay-to-Pay Fee Settlement Payment Option Form

Case Name: Elbert v. Roundpoint Mortgage Servicing Corp.

Settlement Website: RoundPoint Mortgage Pay-to-Pay Fee Settlement Website

Claims Administrator:
Kroll Settlement Administration, LLC

Claims Administrator Contact Information:

Elbert v. RoundPoint Mortgage c/o Kroll Settlement Administrator, LLC
P.O. Box 5324
New York, NY 10150-5324
833-942-3996

Tags: Mortgage-Related Unfair Practices, Processing or Pay-to-Pay Fees, Servicing Your Mortgage