Standard & Poor’s raised its special servicer rating for Irvine, California-based Rushmore Loan Management Services, a residential mortgage loan servicer from average to above average in the second annual review of the platform.
In addition, S&P also affirmed the servicer’s average ranking as a residential primary servicer.
The S&P report noted several positive highlights at Rushmore, including the experienced management and staff, the increased special servicing portfolio, its technology platform, expanded auditing mechanisms and good oversight.
Rushmore also announced that it would begin servicing an additional $260 million in mortgage assets in its San Juan, Puerto Rico-based branch, bringing the total assets serviced in Puerto Rico to approximately $1 billion.
“These ratings reflect Rushmore’s commitment to excellence in the mortgage-servicing industry,” said Rushmore CEO Terry Smith. “I find it significant that these ratings note the important role of our dedicated staff as a key to our success – a well-deserved recognition.”
Meanwhile, Rushmore recently received its first platform review from Fitch Ratings, with a favorable rating of RPS3 and RSS3 for primary and special servicing.
