Thursday, March 28, 2024

What Is Rushmore Loan Management

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Rushmore Loan Management Is One Of The Leading Lending Institutions In The Area

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It deals with a large number of borrowers who are regularly paying late on their house or car loans. The company also provides financial advice to its clients to help them avoid any financial disasters.

In a similar case, the Rushmore Loan Management Corporation filed a settlement against the city of Lehigh Valley, Pennsylvania, in which the corporation settled the claim of an individual who sustained serious injuries while playing tennis at a local country club. The victims medical expenses totaled more than $7500.

Questions About Your Loan

First Guaranty Mortgage Corporation is the holder of your mortgage loan. While FGMC is your mortgage lender, the company does not collect monthly mortgage payments from you. This is where Rushmore Loan Management Services comes in. FGMC has engaged Rushmore Loan Management Services to be its mortgage servicer, meaning you receive and make your monthly mortgage payments directly to Rushmore Loan Management Services.

Below is some helpful information on who Rushmore Loan Management Services is, as well as information on where and how to make your mortgage payments, a list of borrower fees and contact information.

Rushmore Loan Management Services Receives Fannie Mae’s Star Performer Award

Designation recognizes consistent quality performance within loan servicing

Rushmore Loan Management Services has maintained the Fannie Mae Servicer Total Achievement and Rewards Performer award for 2020. The designation by Fannie Mae is in recognition of Rushmore’s outstanding performance in the General Servicing category.

“The STAR designation is a mark of quality within the mortgage loan servicing industry. It signifies the high level of service that our dedicated team provides to our customers and clients every day,” said Rushmore Chief Executive Officer Terry L. Smith. “We are very proud of this recognition by Fannie Mae, which affirms the quality of our servicing platform, the strength of our processes, operations, and technology, and our Servicing teams consistent commitment to excellence.”

Fannie Mae measures servicers performance using metrics to compare against the performance of other Fannie Mae loans with similar credit characteristics.

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

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Shut This Company Down

This company is horrid. I turned them over to the Consumer Financial Protection Bureau , Better Business Bureau and one other agency. I was in bankruptcy and Wells Fargo was accepting my monthly payments from my trustee and then me. My Wachovia mortgage held by Wells Fargo took was bundled and Transfered to this company. They bundled late fees with the mortgage in error and Rushmore is wanting to get paid late fees. I am paying $30 to $40 more a month to Rushmore than required and never been late. This company should be shutdown immediately because all they do is threaten foreclosure over the phone for no reason. How unprofessional.

Rushmore Loan Management Services To Spend $500000000 To Occupy 78000 Square Feet Of Space In Irving Texas

Rushmore Loan Management Services reviews
Craig Etkin

Irving, Texas According to state and local economic development sources Rushmore Loan Management Services plans to invest $5,000,000.00 to build out 78,000 square feet of new space in Irving. The company plans to occupy the new space at 8616 Freeport Parkway in Irving, on or about March 1, 2022. According to the company website Rushmore Loan Management Services LLC is a residential mortgage servicer and originator. Rushmore is dedicated to providing outstanding loan servicing and customer support with a commitment to ethical business practices. We understand the importance of owning a home and believe that open and timely communication is the foundation of the relationship with our customers. Our technology-enabled, customer-focused mortgage professionals are here to help. Rushmores mission is to be a recognized industry leader, providing unmatched care for homeowners and our investors through passionate and highly experienced associates who are devoted to service and integrity.

To learn more about Rushmore Loan Management Services, visit

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Rushmore Loan Management Salary Faqs

The average salary for a Default Credit Risk Underwriter is $65,702 per year in United States, which is 16% lower than the average Rushmore Loan Management salary of $78,617 per year for this job.

The salary trajectory of a Default Credit Risk Underwriter ranges between locations and employers. The salary starts at $127,038 per year and goes up to $88,880 per year for the highest level of seniority.

Paystubs And Bank Statements

  • Provide a full month of paystubs and bank statements for each person obligated on the loan. If for some reason you cant provide this for example, if you just started a new job and dont have these paystubs yet youll need to provide a letter of explanation stating that you just started a new job.

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Rushmore Loan Management Services Q& a

Information on this page is provided ‘as is’ and solely for informational purposes, not for any other purpose or advice. In addition, this information does not originate from us and thus, we do not guarantee its accuracy.

You can check the profile page of each professional or company to determine whether they are a paying advertiser . Regardless of advertiser status, none of the listings, reviews, or other information on Wallet Hub constitutes, in any way, a referral or endorsement by us of the respective financial company or professional, or vice versa. Furthermore, it is important to note that the inclusion of a financial company or professional on Wallet Hub does not necessarily indicate their involvement with the site or control over the information that we display. Information is displayed first and foremost for the benefit of consumers.

Editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not the financial institutionâs responsibility to ensure all posts and questions are answered.

According To The Suit The Employees Of Rushmore Had No Training On Dealing With Troubled Customers Did Not Know How To Deal With Aggressive And Intimidating Debt Collectors Did Not Practice Proper Supervision And Did Not Follow Proper Procedures When Dealing With Clients Who Were Either Non

Loan Modification Program – Using A Qualified Written Request In A Loan Modification Program

The officers entered the house of the principal almost naked looking big especially for their badges which were very dirty, did not ask permission before gaining access to the home and proceeded to disturb and harass the resident and his family.

One of them actually accosted the familys teenage son, while the latter was supposed to be at school. All this took place just after the family received a telephone call from the principals office informing them that their son had stopped making payments on his house.

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About Rushmore Loan Management Services Llc

Why Rushmore

Rushmore Loan Management Services LLC is a multi-faceted financial services company located in Irvine, California Dallas, Texas and San Juan, Puerto Rico. The Rushmore umbrella includes our parent company and the capital markets arm of our organization which is located in Mid-Town Manhattan and our REO Disposition Company is headquartered out of Houston, Texas. Rushmore has a strong foundation and bright future with significant capital backing and is led by a talented and innovative management team. At Rushmore, we offer incredible career opportunities in an exciting, fast-paced, innovative and service-oriented environment. We are a company with methodical and strategic growth plans and looking to fill many key positions. Our employees come to work each day driven to create a valuable experience for our customers. If you are a person of integrity who thrives in a fast-paced, innovative and customer-focused climate, this may be the company for you. We offer our employees industry best benefits and have a competitive compensation plan.

Rushmore Culture

Company Profile: Rushmore Loan Management Service

If you are being called by Rushmore Loan Management Service, a company overview is below.

Rushmore Loan Management Service is a debt collection agency in Irvine, California with branch offices in Dallas, Texas and San Juan, Puerto Rico. It was established in 2008, has 1,000 employees, and is managed by its CEO, Terry Smith. Legal records at the PACER website suggests that consumers who believed that they were being harassed by Rushmore Loan Management Service stood up for themselves.

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Properties Without Escrowed Taxes And/or Insurance

If your loan is approved for a loan modification, we will create an escrow account for taxes and insurance.As part of your Borrower Assistance Application, we will need a copy of your property hazard insurance declaration page. You can contact your insurance agency to obtain this. If you dont have or do not wish to get property hazard insurance, we will put insurance on your property. If this is the case, please send us a letter saying you want us to provide forced place insurance for your property.

All Forms Must Be Filled Out And Returned

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It is important that you fill out the entire packet. Please write not applicable on any forms that you feel dont apply to you. All forms, even those youve written not applicable on, must be returned in order for your application to be complete. Failure to fill out all forms will cause delays in processing your assistance application.

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Mortgage Assistance Options Help Center

Rushmore Loan Management Services understands that you may be experiencing a temporary or long-term hardship and need help. Your loan may be past due or you may be facing foreclosure. We want to assist you with possible loss mitigation options which may be available to you.

If your loan is owned by Fannie Mae or Freddie Mac, your application for loss mitigation will be considered under Fannie Mae or Freddie Mac program guidelines. Similarly, if your loan is government insured, such as a FHA loan, your application will be considered under the guidelines of that program. For more information, please go to the page of this website to find the number for Rushmore Customer Care.

Depending on your specific loan and circumstances, these options may include the following:

Allows you to pay past due amounts on your loan over a specified time period to bring your loan current. Each plan payment includes your regular monthly payment plus a portion of the past due amount. The term of the loan will vary based on your ability to repay.Is a right for you?

Allows you to temporarily suspend or reduce your payments for a specified time period. Under a trial period payment plan you make specified payments over a short period of time to demonstrate your ability and willingness to pay a specified amount. A trial period payment plan is generally required before a permanent loan modification is granted.

  • an interest rate reduction

Your Rights Under The Fdcpa

The law requires debt collectors to treat you with fairness, dignity, and respect, but this is not always what happens. Every year the Federal Trade Commission receives complaints about indebted consumers being threatened and harassed for nonpayment of a debt. If it happens to you, you can sue the debt collector.

  • Yelling, swearing, and using threatening language
  • Refusing to report to the credit bureaus that a debt is in dispute
  • Pretending to be government agents or police officers planning to arrest you
  • Threatening legal action they cannot take or have no intention of taking

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Recent Loan Transfer Details

To find out if your automatic monthly payment will transfer toRushmore, please check the transfer notice that was sent by yourprior servicer. The notice will indicate if your automatic paymentwill be transferred.

Automatic Payment NotTransferring:

If your automatic monthly payments are not transferring toRushmore, once you have your new loan number, you can set upautomatic payment online. Learn more in our Making Online Payments video.

Automatic Payment Transferring:

If your automatic monthly payment is transferred to Rushmore byyour prior servicer your payments will continue to be made fromthe bank account you set up. If you would like to modify yourautomatic payment or set up an alert notification for when thepayment is made, visit Learn moreabout automatic payments in our Making Online Payments video.

A welcome package will be mailed to your address within 15days of your transfer date. This package will include your newRushmore Loan number and important information regardingyour account. Also included is information regarding websiteaccess, automatic payment set-up and other helpful tools tomanage your account. If you need further assistance, callCustomer Care at ,Monday Friday 8:00 a.m. 6:00 p.m. CT.

If you need further assistance, call Customer Care at , Monday Friday 8:00 a.m. 6:00 p.m. CT.

Rushmore Loan Management Services LLC, its successorsand/or assigns ATIMA P.O. Box 692409 San Antonio, TX 78269-2409

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Theyre Saying They Own My Mortgage And They Dont

Industrial Bank, Staria Williams | VP/Risk Management Officer on Beneficial Ownership

They are saying they own my mortgage and do not. They said they purchased it through Wells Fargo in 2016 and I have paperwork that says that Freddie Mac bought the mortgage in 2016 and it is in litigation right now.

I wrote them a letter telling them that they are trying too buy my mortgage and I dont want them near me. See I received a letter from them saying that I will be charged double if I dont buy homeowners insurance that my cindi doesnt have . So I bought it and thats when I received from them a atop and deceased letter from them. That I can only contact y them if they request paperwork. Otherwise I am not to contact them.

I hate them how do they have an A from the BBB?

If you can give me some advice that would be great!

Are you sure that they bought your mortgage?

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How Does Rushmore Loan Work

Rushmore Loan works in relatively the same fashion as any other mortgage loan servicer.

While their operation is mostly known in regards to loan collecting, Rushmore Loan does supervise and manage loans transferred from other third parties.

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Associated from other undisclosed corporate entities, we are uncertain the scale and complexity regarding Rushmore Loan but what is known is that their operation is expanding, a not in a positive nor satisfactory manner.

This Is Just An Example Of How Loan Management Companies Can Get Stuck In The Litigation Process

One may have different reasons to sue, but there is no justification behind doing so. There are several ways in which a client can settle a case without having to go to court. Most importantly, if you are satisfied with the results, then you should ask for a written agreement that spells out your obligations as a result of winning the lawsuit.

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Rushmore Loan Management Excessive Pay

Rushmore Loan Management Services, LLC services home mortgages. But the complaint for this class action alleges that it violates Californias Rosenthal Fair Debt Collection Practices Act and the terms of mortgages by charging processing fees when customers make their monthly payments by telephone. These pay-to-pay fees amount to $5 when homeowners use the automated phone payment system and $10 when they pay by speaking to a customer representative.

The complaint states, Under California law, Rushmore is not allowed to markup the amounts it pays third parties to provide borrowers services and impose unauthorized charges to create a profit center for itself. In addition, it says, the Uniform Mortgage prohibits such fees when they are prohibited by law or not expressly permitted in the mortgage contract.

According to the complaint, the fees do amount to additional profits for the company because they far exceed the actual costs of the telephone transaction services Rushmore utilizes. The complaint alleges that the actual cost to Rushmore of processing telephone payments is around fifty cents or less per transaction and that Rushmore pockets the difference.

Besides this, the complaint alleges, Rushmores practice violates the federal Fair Debt Collection Practices Act , which it says forbids the collection of any amount unless such amount is expressly authorized by the agreement creating the debt or permitted by law.

Rushmore Loan Management Services Llc

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When The Family Complained About The Harassment And The Dirty Uniforms Of The Personnel The Companys President Defended The Conduct Of His Employees Stating That The Plaintiffs Were Mistaken And That They Should Have Asked For Police Assistance

He also said that the company was not liable because it only wanted to do its job and retrieve the money that it owed to the principal. The lawsuit filed by the families demands that the company provide remedial and appropriate training to its employees. They also demand that the company improve its system for tracking delinquent accounts so that such occurrences may be avoided in the future.

The suit further demanded that the company supply proper guidelines for its personnel in dealing with distressed borrowers and provide guidelines for monitoring the payment of accounts. Finally, it is requested that Rushmore promptly pay all monies owed to the principal.

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