Home / Headlines / RoundPoint Completes $94M Equity Private Placement of Preferred Stock
Print This Post Print This Post

RoundPoint Completes $94M Equity Private Placement of Preferred Stock

DataRoundPoint Mortgage Servicing Corporation, a North Carolina-based non-bank mortgage servicing company, announced that it has completed a $94 million equity private placement of convertible preferred stock.

“We are excited to work with new partners that share our vision for continued growth at RoundPoint. This capital raise will assist us in our mission to build a leading, fully integrated mortgage banking institution that promotes sustainable homeownership,” said Kevin Brungardt, CEO of RoundPoint. “The proceeds from the offering will be used primarily to support our ongoing expansion of our firm such as growing the company’s leading mortgage servicing rights co-issue program and investing in other corporate initiatives that should generate strong market-rate returns, and secondarily for other corporate purposes, such as repaying certain indebtedness.”

The convertible preferred stock was offered and sold in a transaction that was exempt from the registration requirements of the United States Securities Act of 1933. The convertible preferred stock has not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration, or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

Keefe, Bruyette & Woods, a Stifel Company, was the sole placement agent and initial purchaser in the offering.

Founded in 2007, RoundPoint is a leading, national co-issue servicer, loan subservicer, and residential mortgage lender. As one of the nation’s largest non-bank mortgage servicers, it currently services more than $75 billion worth of mortgage assets and is authorized to service loans in all 50 states, the District of Columbia and the U.S. Virgin Islands. The company is headquartered in Charlotte with an office in Dallas. Lenders and investors can learn more about RoundPoint's services by visiting RoundPointExchange.com.

About Author: David Wharton

David Wharton, Online Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 15 years of experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at David.Wharton@DSNews.com.
x

Check Also

Dealing with Fraud During Natural Disasters

With the Carolinas facing record high rainfall and flooding, there is plenty of risk of fraud as people may take advantage of the chaos. Click through to find out how fraudsters may use the storm to scam homeowners.

GET YOUR DAILY DOSE OF DS NEWS

Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.