Rushmore Opens New Branch in Puerto Rico

Residential mortgage loan servicer Rushmore Loan Management Services LLC has announced that it has begun operations in Puerto Rico. The company, which services performing, re-performing and non-performing loans, opened its San Juan office on Nov. 3. It is the third location for Rushmore, and the first outside the continental United States.

“Expanding our operations to include Puerto Rico is a great opportunity for our future growth while ensuring personal, high-quality service to Puerto Rican borrowers,” said Rushmore Loan Management Services LLC CEO Terry Smith. “Rushmore’s customers will have the convenience of making payments online, at any FirstBank branch throughout the Island and at our onsite facility in San Juan.”

Smith says Rushmore currently has 50 local employees staffing the new office.

“We have recruited some of the best local talent to join our staff and are we servicing residential loans and REOs right out of the gate,” Smith said.

Rushmore is the first specialty high touch servicer on the Island. Opening the Puerto Rico site aligns with the company‘s long-range strategy of buying additional mortgage portfolios, acquiring new sub-servicing residential loan pools and purchasing mortgage servicing rights.

“We’ve been successful in this role stateside, and now look forward to expanding our services to Puerto Rican borrowers and local residential loans,” Smith said.