New higher ratings reflect the company’s pandemic response, loan servicing performance, and other key metrics
Rushmore Loan Management Services ("Rushmore" or the "Company") today announced that Fitch Ratings has upgraded the Company’s US RMBS Servicer Ratings in three categories: U.S. primary prime servicer (RPS1- up from RPS2), U.S. primary prime subservicer (RPS1- up from RPS2), and U.S. special servicer (RSS1- up from RSS2), all with stable outlooks.
According to the report from Fitch, the upgraded ratings "reflect the company's diligent response to the coronavirus pandemic and its impact on servicing operations, an effective enterprise-wide risk environment and compliance management system, competitive loan servicing performance metrics and strong servicing technology."
Additionally, Fitch noted that "Rushmore promotes a continuous improvement culture across the business, investing in significant technology enhancements and operational improvements."
"These upgraded ratings speak to the quality of our servicing platform and the strength of our processes, operations, and technology," said Rushmore Chief Executive Officer Terry L. Smith. "The ratings also underscore the tremendous efforts of our team to provide the highest levels of service to our customers and clients every day."
Fitch rates residential mortgage primary, master, and special servicers on a scale of 1 to 5, with 1 being the highest rating. It delineates ratings with plus (+) and minus (-), as well.
About Rushmore Loan Management Services
Rushmore Loan Management Services LLC is a residential mortgage servicer and originator with services that include special servicing and prime sub-servicing, correspondent lending, and property disposition. It is dedicated to providing outstanding service and customer support with a commitment to ethical business practices. For more information, visit www.RushmoreLM.com.
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Craig Lackey, EVP, General Counsel