California-based residential mortgage servicer Rushmore Loan Management Services [1] is open for operation in Puerto Rico, the company announced.
Rushmore's newest office, which opened in San Juan on November 3, is the third location for the firm, which services performing, re-performing, and non-performing loans. It is also the first branch to open outside of the continental United States.
The first specialty high-touch servicer to come to the island, Rushmore currently has 50 local employees staffing the office. The company says the new site aligns with its long-term strategy of buying additional mortgage portfolios, acquiring new sub-servicing loan pools, and purchasing mortgage servicing rights.
"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 CEO Terry Smith. "We've been successful in this role stateside, and now look forward to expanding our services to Puerto Rican borrowers and local residential loans."