RoundPoint's Fannie Mae Award: A Win for Servicing and Strategy

ST. LOUIS PARK, MN – February 18, 2026 – RoundPoint Mortgage Servicing LLC, a key subsidiary of the real estate investment trust Two Harbors Investment Corp., has secured one of the mortgage industry's most coveted accolades, earning Fannie Mae’s Servicer Total Achievement and Rewards™ (STAR™) performer recognition. The company was honored across all three of the program's rigorous categories: General Servicing, Solution Delivery, and Timeline Management.

This comprehensive recognition from the government-sponsored enterprise is a powerful statement in the highly competitive mortgage servicing sector. It signifies that RoundPoint not only meets but exceeds Fannie Mae's highest standards for competency, capability, and overall performance. The award validates the company's operational effectiveness and its stated mission to preserve homeownership, a particularly critical goal in today's complex economic environment. For its parent company, the award serves as a public endorsement of a strategic acquisition designed to reshape its financial future.

“We are proud to receive this recognition from Fannie Mae, which reflects the dedication of our team and deep commitment to servicing excellence,” said Bill Greenberg, President and Chief Executive Officer of Two Harbors, in a statement accompanying the announcement. “Our focus remains on delivering outstanding customer experiences, providing meaningful solutions, and supporting homeowners with the tools and guidance they need to succeed at every stage of homeownership.”

The Gold Standard of Servicing Excellence

The Fannie Mae STAR™ Program is far more than a simple plaque on the wall; it is a data-driven benchmark for the entire mortgage industry. Fannie Mae evaluates its servicers, which are grouped into peer categories based on portfolio size, using a detailed scorecard that measures performance across the entire servicing lifecycle. Earning recognition is an exclusive honor, with only 29 servicers making the list in 2024 out of the many that handle Fannie Mae loans.

Achieving the award in all three categories is a particularly noteworthy accomplishment. The categories represent a holistic view of a servicer's capabilities:

• General Servicing: This measures a servicer's fundamental effectiveness in core operations, such as managing early-term delinquencies and ensuring accurate investor reporting and accounting.
• Solution Delivery: This evaluates the ability to effectively resolve loan delinquencies and manage collections call centers, a critical function for helping borrowers in financial distress find alternatives to foreclosure.
• Timeline Management: This assesses efficiency in navigating the complex and highly regulated foreclosure process, measuring the ability to resolve or liquidate loans that have moved beyond allowable timeframes.

Success across these metrics indicates a well-oiled machine capable of managing risk for its investor partners while simultaneously providing effective support for homeowners. It suggests a mastery of process, technology, and compliance that sets a servicer apart from its peers.

A Strategic Win for Two Harbors

For RoundPoint's parent company, Two Harbors Investment Corp. (NYSE: TWO), the STAR award is a powerful validation of a pivotal strategic decision. In 2023, the MSR-focused REIT acquired RoundPoint to vertically integrate its mortgage servicing operations. The move was designed to bring its massive portfolio of mortgage servicing rights (MSRs) in-house, giving it greater control, creating operational efficiencies, and capturing more of the MSR asset's value chain.

At the time of the acquisition, Two Harbors projected the integration would generate an additional $25-30 million in incremental pre-tax earnings in 2024. The strategy relies on the in-house servicer not just existing, but excelling. A poorly run servicing platform can lead to financial losses, regulatory penalties, and reputational damage. Conversely, a top-performing platform like RoundPoint, now validated by Fannie Mae, enhances the value of Two Harbors' MSR assets, provides a stable stream of fee income, and reassures investors that the company's core assets are being managed to the highest standard.

This integrated model, which pairs MSRs with residential mortgage-backed securities (RMBS), allows Two Harbors to hedge against interest rate risk and create a more resilient business model. The success of RoundPoint's platform, including its direct-to-consumer origination and recapture capabilities, creates a virtuous cycle where the company can retain borrowers and replenish its MSR portfolio, providing a key advantage over competitors.

The View from the Homeowner's Porch

Fannie Mae's recognition explicitly highlights the mission of "preserving homeownership." In an era of elevated interest rates and ongoing economic uncertainty, the role of a mortgage servicer has never been more critical to household financial stability. Superior servicing, as defined by the STAR program's metrics, translates into tangible benefits for borrowers. It means more effective communication, a higher likelihood of finding workable solutions to avoid delinquency, and more efficient handling of complex issues like insurance and escrow.

However, the path to operational excellence is not always smooth. Like many large servicers, RoundPoint has faced public criticism from customers and legal challenges over its practices. A 2024 federal lawsuit alleged issues with payment processing and fees, and online review platforms contain complaints regarding customer service and escrow management. This dichotomy between high-level operational awards and individual customer friction is a common challenge across the financial services industry.

An S&P Global Ratings evaluation from 2020, which rated RoundPoint as "ABOVE AVERAGE," provides further context. The report praised the company's investment in staff, technology, and risk management but also noted areas for improvement, such as higher-than-average escrow turnover rates. The recent Fannie Mae award suggests that RoundPoint has made significant strides in optimizing the very operational frameworks that underpin the customer experience, even as challenges remain in translating those metrics into universal customer satisfaction.

Navigating a Shifting Industry Landscape

RoundPoint's achievement is set against the backdrop of a mortgage servicing industry in profound transformation. Servicers are contending with a difficult interest rate environment that has slowed origination volumes and made borrower retention a fierce battle. At the same time, declining borrower financial health poses a growing risk of defaults, while the regulatory landscape remains as demanding as ever.

In this environment, the key differentiators are technology and strategy. Leading firms are leveraging artificial intelligence and automation to improve efficiency, predict borrower needs, and offer personalized support. The most successful servicers are shifting from a reactive, collections-focused model to a proactive, borrower-centric partnership. By demonstrating excellence in solution delivery and general servicing, RoundPoint's award indicates it is a leader in this evolution.

The recognition from Fannie Mae solidifies RoundPoint’s position as a top-tier operator and, by extension, strengthens the strategic foundation of its parent company. It underscores that in today's housing market, the technical proficiency of mortgage servicing is not just a back-office function but a critical component of financial performance and a cornerstone of homeownership stability.