Company Response
9/13/2023
Rushmore Loan Management Services LLC ("Rushmore") is in receipt of your correspondence submitted through the Business Consumer Alliance ("BCA") website portal on September 5, 2023, and secure message correspondences submitted via the Rushmore website and received by our office on September 1, 2023, and September 5, 2023, regarding the mortgage loan account referenced above. We appreciate the opportunity to provide you this written response.
At Rushmore, we place our customers' concerns, privacy, and satisfaction as a high priority and work diligently at resolving any issues or concerns. We understand the inconvenience and frustration you expressed in connection with your attempts to contact Rushmore by telephone. Your trust and your business are very important to us, and your positive experience is our first priority. We would like to take this opportunity to address each of the concerns detailed in your inquiry.
On September 1, 2023, Rushmore received $1,184.42 and applied it to satisfy the September 1, 2023, installment. On September 1, 2023, Rushmore also received $50,000.00 and applied it to curtail the loan's unpaid principal balance. On September 4, 2023, Rushmore again received $50,000.00 and applied it to curtail the loan's unpaid principal balance. Additionally on September 5, 2023, Rushmore received $38,137.13 and applied it to satisfy the loan's unpaid principal balance. Per the Payoff Statement issued September 7, 2023, the following amounts remain outstanding and must be satisfied before the lien on the property may be released:
Total Interest Due Through 9/29/2023 $462.74
Recon/Recording Fee $103.00
Total Due to Satisfy Loan in Full Through 9/29/2023 $565.74
Please note that the interest is calculated through the "good through" date on the Payoff Statement. Only interest accrued through the date that the full payoff amount is received will be included in the final payoff of the loan. The Recon/Recording Fee is the amount your parish will charge to record the lien release document. Once these funds are received along with an executed copy of Page 5 of the Payoff Statement entitled "Borrower's Instruction to Suspend and Close Equity Line of Credit," Rushmore may close the loan and initiate the lien release process. Copies of the Payoff Statements sent to you on July 24, 2023, August 24, 2023, September 1, 2023, and September 7, 2023, are enclosed for reference.
Please note that Rushmore requires certified funds to pay a loan in full. Payments remitted by telephone are not in certified form and may delay the payoff of the loan as Rushmore will be required to wait for the payments to clear the bank on which they are drawn. Certified funds include money orders, cashier's checks, and wires. Information for remitting a wire payoff to Rushmore is included in each Payoff Statement on page 4. Money orders and cashier's checks may be sent to the following mailing address:
Rushmore Loan Management Services LLC
Attn: Payoff Department
15480 Laguna Canyon Road Suite 100
Irvine, CA 92618
This address may be found on page 2 of each Payoff Statement. At Rushmore, we strive to provide our customers with prompt, courteous, and accurate service. We sincerely regret any inconvenience or frustration the difficulty you experienced when contacting Rushmore by telephone may have caused.
As of the date of this correspondence, the account has a zero principal balance; however, the lien on the
property has not been released. Should you have any additional questions, please do not hesitate to contact
us.
Customer Service Department
Monday through Friday, 8:00 a.m. to 6:00 p.m. Central Standard Time
Toll-free number: 1.888.504.6700
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