Rushmore Loan Management Services [1]
[1] LLC, a national residential mortgage servicer, is extending its reach into Puerto Rico with the addition of a new branch in San Juan.
According to Rushmore CEO Terry Smith, the company plans to immediately start servicing approximately 4,000 residential loans and REO when the new branch opens at the start of November.
"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."
According to a release, Rushmore plans to hire 50–60 new employees for the San Juan office and has already begun hiring.
"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)," Smith said.