Rushmore Loan Management Services LLC has announced plans to extend its specialty residential loan servicing platform to Puerto Rico. The company will open a new branch in San Juan, Puerto Rico, which will be fully operational by Nov. 1, 2014. According to Rushmore CEO Terry Smith, Rushmore will immediately begin servicing approximately 4,000 residential loans and real estate-owned (REO) properties when the branch office opens in November. The company plans to hire approximately 50-60 new employees in the San Juan office.
“Rushmore believes that servicing local residential loans in Puerto Rico with local staff is the right strategy for the company and our Puerto Rican borrowers,” Smith said. “Investing in local talent and growing our operation on the island supports our commitment to continued investments in the Puerto Rican marketplace.”
Smith says Rushmore is already looking for talented individuals with mortgage servicing experience to join the Company.
“We have begun hiring and will continue to hire professionals who want to enhance their career and work with an industry leading company,” Smith said. “We plan to grow the Puerto Rico branch alongside our Dallas and Irvine offices by acquiring additional mortgage portfolios, onboarding new sub-servicing residential loan pools and purchasing mortgage servicing rights (MSRs).”