Standard & Poor's (S&P) has raised its special servicer rating for Rushmore Loan Management Services from ‘average’ to ‘above average.’
S&P also affirmed Rushmore's ‘average’ rating as a residential primary servicer, Rushmore reports in a release.
The new ratings come following S&P's second annual review of Rushmore's platform.
Additionally, Rushmore recently received its first platform review from Fitch with a favorable rating of RPS3 and RSS3 for primary and special servicing, respectively.
Rushmore says it will begin servicing an additional $260 million in mortgage assets in its San Juan, Puerto Rico-based branch, bringing the total assets serviced at that location to approximately $1 billion.
‘These ratings reflect Rushmore's commitment to excellence in the mortgage servicing industry,’ says Terry Smith, CEO of Rushmore, in a release. ‘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.’