Rushmore Loan Management Services LLC announced two positive corporate developments that support a strong outlook for the company’s business. The company has announced that it has received approval to act as a Freddie Mac seller/servicer. With this approval, Rushmore is now an approved seller/servicer for both government-sponsored enterprises, Freddie Mac and Fannie Mae, as well as an approved issuer of Ginnie Mae mortgage backed securities.
“The Freddie Mac approval will significantly expand the company’s business, enabling Rushmore to originate and service loans for a new customer base,” said Terry Smith, CEO of Rushmore Loan Management Services LLC. “This is an important designation for both our employees and broker clients, and we are confident that this will be a competitive advantage as we look to grow the business.”
Rushmore also announced that it had received a positive rating from Standard & Poor's Ratings Services, which assigned an average ranking to Rushmore as a residential special servicer and residential primary servicer. Standard & Poor's specifically identified Rushmore’s strengths as its experienced management and staff, its multiple auditing mechanisms, its proprietary technology along with a vendor system, its competitive servicing metrics, and good oversight and controls throughout the default areas. Standard & Poor's also ranked Rushmore’s management and operations as above average.
“This is a great vote of confidence for Rushmore as a growing organization, and we will continue to make investments in the company to ensure excellent service and controls that exceed our customers’ expectations,” said Smith.