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.