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Servicing

Residential Credit Solutions gains Ginnie Mae approval

Residential Credit Solutions obtained approval from the Government National Mortgage Association to issue and service single-family mortgage-backed securities programs.

The deal greatly expands RCS's servicing and sub-servicing platform for issuers and investors.

RCS CEO Dennis Stowe said the approval "provides an opportunity to expand our servicing and sub-servicing offerings to issuers and investors providing assistance to a broader constituency of homeowners."

The national mortgage investor, issuer and servicer currently manages $5 billion in performing and nonperforming residential mortgage loans with 225 employees in three offices across the nation.

The Fort Worth-based firm is already considered a high-touch special servicer and is approved with the Department of Housing and Urban Development, Fannie Mae and Freddie Mac.

kpanchuk@housingwire.com

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