TPG Rushmore meeting request

The Private Equity Stakeholder Project and associated community organizations are requesting a meeting with TPG Capital to address the aggressive foreclosure activities of Rushmore Loan Management Services. The letter highlights Rushmore's role as a major owner of repossessed residential properties in Puerto Rico and its high foreclosure rates on mortgages acquired from Freddie Mac and HUD in Florida and Texas. In response to the impacts of Hurricanes Irma, Maria, and Harvey, the authors demand an immediate halt to all foreclosure proceedings in these affected zones.

• Rushmore Loan Management Services is a significant actor in the Puerto Rican housing market, serving as the second-largest owner of REO residential properties (753) as of June 2017 and having repossessed the third most homes of any lender.
• Puerto Rico is experiencing a severe foreclosure crisis where an average of 14 families lose their homes daily, with 5,424 homes foreclosed in the previous year—a 130 percent increase from a decade prior.
• Rushmore demonstrated higher-than-average foreclosure rates for mortgages acquired from Freddie Mac; by the end of 2016, it had foreclosed on approximately 694 (27%) of 2,533 delinquent mortgages, despite holding them for only 7 to 8 months.
• Rushmore has acquired 4,511 mortgages from the US Department of Housing and Urban Development, which include 332 mortgages in Florida and 162 in Texas.
• Since 2012, more than 1,100 consumer complaints regarding Rushmore have been filed with the Consumer Financial Protection Bureau.

APA

Private Equity Stakeholder Project (2017). TPG Rushmore meeting request. http://pestakeholder.org/wp-content/uploads/2018/01/TPG-Rushmore-meeting-request.pdf

Chicago

Private Equity Stakeholder Project. TPG Rushmore meeting request. 2017. http://pestakeholder.org/wp-content/uploads/2018/01/TPG-Rushmore-meeting-request.pdf.

Wikipedia

{{cite press release |author=Private Equity Stakeholder Project |title=TPG Rushmore meeting request |date=24 October 2017 |url=http://pestakeholder.org/wp-content/uploads/2018/01/TPG-Rushmore-meeting-request.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{privateequitystakeholderproject2017tpg, author = {{Private Equity Stakeholder Project}}, title = {{TPG Rushmore meeting request}}, publisher = {Private Equity Stakeholder Project}, year = {2017}, month = oct, url = {http://pestakeholder.org/wp-content/uploads/2018/01/TPG-Rushmore-meeting-request.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }