BSI Financial Services Residential Mortgage Servicing Ratings Upgraded by Fitch Ratings
IRVING, Texas, Jan. 20, 2020 /PRNewswire-PRWeb/ -- Fitch Ratings has announced that it has upgraded BSI Financial Services' U.S. residential primary servicer rating for Prime Product to RPS3 and its U.S. residential special servicer rating to RSS3, citing the firm's experienced management team, risk control environment and integrated servicing technology.
"We have significantly invested in people and technology since we received our initial ratings in 2013," said BSI President and Chief Executive Officer Gagan Sharma. "We are gratified that Fitch acknowledges our investments and the positive effects they are having on our operations."
BSI has added several high-profile business leaders with experience in servicing, compliance, technology and sales to its management team. In addition, it has accelerated its investment in proprietary technology to improve data integrity and quality control and enhance borrowers' experience.
In 2017 BSI initiated a Data Integrity Program that each day scores every loan in BSI Financial's servicing portfolio for data anomalies. This exception-based process enables BSI to perform a QA audit on 100% of the loans it services every day.
Today, BSI services more than 50,000 agency and non-agency mortgages, provides component loan services and due diligence and is an approved servicer for Fannie Mae, Freddie Mac, FHA, VA and HUD, in addition to private investors. BSI is also a leading servicer of business-purpose loans used for fix-and-flip and single-family rental investors.
"Our efforts to advance our technology and further refine our operations are ongoing," said Sharma. "Innovation is at the core of our culture and we are making daily progress on improving quality and efficiency."
About BSI Financial Services
Led by a seasoned team of financial industry professionals, BSI Financial Services provides mortgage servicing and special servicing, loan quality control, REO and asset management services, and life-of-loan performance reporting using advanced data analytics tools. Leveraging a 30-year performance track record, BSI Financial offers clients customized solutions using proprietary digital technology such as BSI ASSET360, an advanced form of RegTech. BSI ASSET360 provides daily reporting on loan condition using exception processing that applies 600 business rules across 10,000 loan-level data elements that are updated daily. With BSI ASSET360, clients have real-time visibility into loan status and performance, affording them choice and control. BSI Financial is approved as a servicer by Fannie Mae, Freddie Mac, FHA, VA, the Federal Home Loan Banks and several private investors, and is approved as an issuer by Ginnie Mae. BSI Financial's business operations are located in Titusville, PA; Irvine, CA; and Irving, TX, where it also maintains its corporate headquarters. For more information, visit http://www.bsifinancial.com.
SOURCE BSI Financial Services
