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Rushmore Loan Management Services

Rushmore Loan Management Services

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New Home Equity Line-of-Credit Customers

Welcome to Rushmore! We’re happy to have you as a new customer and want to help make this transition as easy as possible. We know you have questions, and we’re here to guide you through the process.

Why was my loan transferred?

Mortgages are transferred all the time, and this is actually great news for you!

Right now, our team is focused on making your transition as smooth as possible, and we look forward to working with you in the years ahead, as your loan servicing needs continue to change.

Here’s What You Need To Know

Answers to Your Most Important Questions

What is the last Day an electronic advance will be processed with Capital One?
The last day an electronic advance can be presented to Capital One is August 28th.
What is the last day Capital One will honor my check?
If you’ve written a check from your line of credit account, the recipient must present the check to Capital One to be cashed on or before August 24, 2018 or it will be returned. Remember, you can always take an advance until August 28, 2018 instead of writing a check.
When will I receive my new checks?
Your convenience checks will be mailed between August 22 and August 24, 2018; please allow 5-7 business days to receive them. If you live in Texas, Texas regulations do not allow us to automatically mail checks to you. If you would like to request checks, please call 888-504-6700.
How many Home Equity Line-of-Credit checks will I receive?
If you live outside of Texas, you will receive 6 convenience checks. Additional check orders will be in quantity of 25 and a $30.00 fee may be applicable.
When can I use my new Rushmore checks?
You can begin using your Rushmore checks effective August 30th, 2018.
Will I be able to use my Home Equity Line-of-Credit convenience checks as an electronic check? (For example, making a payment online by providing the routing number and account number.)
Electronic check transactions will no longer be supported, but you can use the convenience checks to write a check and deposit into your checking account.
Will I still be able to visit my local branch to access my Home Equity Line-of-Credit?
Access to your home equity line of credit through your local branch will no longer be supported; however, you can access your account online 24-hours a day to view your account information, make a payment, and establish future payment arrangements.
Will I be able to access my Home Equity Line-of-Credit through a mobile app?
You can access your account 24-hours a day on your mobile phone’s web browser, to view your account information, make a payment and establish future payment arrangements.
Will I still have Overdraft Protection?
Some product features such as overdraft protection from your home equity line-of-credit (equity line advances (i.e. transfers) to your Capital One checking account) will no longer be supported. Please check with your bank for other overdraft options.
How will the transfer of my loan affect my mortgage life or disability insurance, or any other type of optional insurance?
If your loan payment includes a premium for optional products, it will no longer be included in your payment, as these services provided through Capital One have been cancelled. To obtain vendor contact information, please contact a Capital One representative.

How To Set Up Your Online Account

It typically takes 7 days following your transfer date for your loan details to be validated. When this is complete, you can register your online account to view account details, set up automatic payments and more.

How To Make A Payment

Right now, you’re probably thinking about how to make your payment.  

If you already sent your payment to your prior servicer, that’s okay, as your prior servicer will forward your payment to Rushmore and the payment will be applied to your account. This could take a couple of weeks – but rest assured you will not receive a late charge as a result of this process.

If you have a payment due, you have two options:

  1. If you received an introductory letter from Rushmore, simply use the payment coupon provided and mail your payment to the address provided on the coupon.
  2. If you have not received the letter, you can mail the payment to: Rushmore Loan Management Services at P.O. Box 514707 Los Angeles, CA 90051-4707. Please include your prior servicer’s loan number on your check or money order. For more information, click on the payments tab below.

Answers to other common questions.

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The most important information to know is the Transfer Date, or day that your loan is transferred to Rushmore’s servicing system. The letter you received from your prior mortgage servicer includes this date. If you did not receive the letter, you can contact your prior servicer to get the transfer date. You will also receive a letter from Rushmore on or just before your transfer date with information including your loan number and transfer date as well as a payment coupon. For 7 days following your transfer date, your loan information is being reviewed and verified. Once the verification is complete, your loan will be accessible through our automated loan information line and on our web-site at www.rushmorelm.com. In the interim, this helpful FAQ will help you understand the transfer timeline and options for making your next mortgage payment.

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A welcome package will be mailed to your address within 15 days of your transfer date. This package will include your new Rushmore Loan number, important information regarding your account, how to contact Rushmore, and our customer service hours. Also included is information regarding website access, automatic payment set-up and other helpful tools to manage your account. If you are still having trouble, contact Rushmore Loan Management Customer Service (888) 504-6700. Representatives are available to assist you Monday through Thursday from 6 am – 7 pm and Friday from 6 am – 6 pm PT.

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Generally, the terms of your loan will not change as a result of a transfer of servicing. Rushmore will honor the terms of your loan that were in place with your prior servicer, including any existing repayment plan or loan modification to which you agreed with your prior servicer. Contact Customer Service toll-free at 888-504-6700 Monday – Thursday from 6:00 am to 7:00 pm and Friday 6:00 am to 6:00 pm (all times PT) if you have questions.

If your loan is owned by Fannie Mae or Freddie Mac, you may reach customer service for your loan by calling, toll-free, (888) 616-5400, Monday – Thursday from 6:00 AM to 7:00 PM, or Friday from 6:00 AM to 6:00 PM (all times PT).

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It is possible that in the future, your loan may be transferred to another servicer. That decision will be made by the owner of your loan. If the servicing of your loan is transferred again, you will receive written notification.

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There are a few options: If you have already received an introductory letter from Rushmore, you can use the interim payment coupon provided. If you have not received the letter and payment coupon, you can mail the payment to: Rushmore Loan Management Services at P.O. Box 514707 Los Angeles, CA 90051-4707. Please include your prior servicer’s loan number on your check or money order. If you already sent your payment to your prior servicer, that’s okay, as your prior servicer will forward your payment to Rushmore and the payment will be applied to your account. This could take a couple of weeks – but rest assured you will not receive a late charge as a result of this process.

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If you have your monthly mortgage payment set up to be paid through an online bill payment service with your bank, please take a few minutes to update Rushmore as your payee. Our payment address is Rushmore Loan Management Services at P.O. Box 514707 Los Angeles, CA 90051-4707. Also, please make sure to update the memo line with the new Rushmore account number that will be included in your welcome package and also available online approximately 7 days following your transfer date.

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If you were set up for monthly automatic draft payment (ACH) or monthly online bill payment with your prior servicer, your drafts will not automatically transfer to Rushmore. Information regarding how to set up a new automatic draft payment and online bill payment will be included in the welcome package that will be mailed to your address within 15 days of your transfer date. If you have a scheduled payment due before you set up your recurring payment process, you can mail a payment to: Rushmore Loan Management Services at P.O. Box 514707 Los Angeles, CA 90051-4707. Please include your prior servicer’s loan number on your check or money order.

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Yes. Your previous servicer will forward any payment they receive to Rushmore within sixty (60) days after your loan is transferred, and we will credit it to your loan. After the sixty (60) days, this service may no longer be provided and any payment sent to your prior servicer may be returned to you.

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Yes. If your loan was transferred from Rushmore, Rushmore will forward any payments received within sixty (60) days after the effective date of the transfer to your new servicer. After the sixty (60) days, this service may no longer be provided and any payment received by Rushmore may be returned to you.

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Read our full list of FAQs