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Rushmore Approved as Freddie Mac Seller/Servicer

Irvine, California-based ""Rushmore Loan Management Services LLC"":http://www.rushmorelm.com/ made announcements of two positive corporate developments Thursday that the company says support a strong outlook for its business.


Rushmore has received approval to act as a ""Freddie Mac"":http://www.freddiemac.com seller/servicer. With the sanction from Freddie, Rushmore is now an approved seller/servicer for both GSEs, Freddie Mac and ""Fannie Mae"":http://www.fanniemae.com, as well as an approved issuer of ""Ginnie Mae"":http://www.ginniemae.gov mortgage-backed securities.


""The Freddie Mac approval will significantly expand the company's business, enabling Rushmore to originate and service loans for a new customer base,"" said Terry Smith, CEO of Rushmore. ""This is an important designation for both our employees and broker clients, and we are confident that this will be a competitive advantage as we look to grow the business.""

Rushmore also announced that it has received a positive rating from ""Standard & Poor's Ratings Services"":http://www.standardandpoors.com, which assigned an average ranking to Rushmore as a residential special servicer and residential primary servicer.

Standard & Poor's specifically identified Rushmore's strengths as its experienced management and staff, its multiple auditing mechanisms, its proprietary technology along with a vendor system, its competitive servicing metrics, and good oversight and controls throughout the default areas. S&P ranked Rushmore's management and operations as above average.

""This is a great vote of confidence for Rushmore as a growing organization,"" Smith said. ""[W]e will continue to make investments in the company to ensure excellent service and controls that exceed customers' expectations.""

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.

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