Business

July 23, 2014

RoundPoint Mortgage to lay off 166 in Charlotte

RoundPoint Mortgage Co. plans to lay off about 166 employees at the company’s Charlotte headquarters in southwest Charlotte, according to documents filed with the state commerce department.

RoundPoint Mortgage Co. plans to lay off about 166 employees at the company’s Charlotte headquarters in southwest Charlotte, according to documents filed with the state commerce department.

The company did not list a reason for the layoffs in a Worker Adjustment and Retraining Notification, or WARN notice, filed Monday. Companies are required to file the notices in advance of mass layoffs and plant closures.

Company representatives could not be reached Wednesday for comment.

According to its website, RoundPoint is an online mortgage company licensed to originate loans in all 50 states. It is headquartered in Parkway Plaza Business Park, about 2 miles from Charlotte Douglas International Airport.

The company is a subsidiary of RoundPoint Financial Group, part of the Tavistock Group, an investment firm headquartered in the Bahamas. According to Tavistock’s website, the firm has investments in areas such as restaurants, real estate, sports and media.

In its notice, RoundPoint described the layoffs as a “reduction in force” and said most are expected to occur around Sept. 19. The layoffs affect a wide range of positions, including loan officers, analysts and various types of managers.

Lenders nationwide have laid off thousands of employees in their mortgage operations over the past year as interest rates have risen, curbing demand for loan refinancings. It’s not clear if interest rate changes are a factor in RoundPoint’s layoffs.

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