Have a complaint against BSI? We want to hear it
Yes, BSI is real. Their full name is BSI Financial Services. The company was founded in 1986 and specializes in a range of financial services such as mortgage lending and servicing.
BSI definitely is a real company, but real companies sometimes do unfair things. If you have complaints about BSI, you can share them.
BSI Financial Services is primarily a loan servicer, approved as a servicer for Feddie Mac, VA, Fannie Mae, FHA, and Federal Home Loan Banks in addition to private investors. A mortgage servicer is a company which sends you mortgage statements, keeps track of interest, responds to questions, and manages the loan.
A Loan Servicer may manage loans that they themselves lent, or loans made by other companies.
BSI is also a direct lender approved by Ginnie Mae. A direct lender is the financial institution that loans you money. A lender may choose to loan money and service the loan thereafter, but they do not have to.
BSI is not a debt collector. A debt collection company purchases delinquent debt from mortgage lenders at a fraction of the value and then proceeds to profit by trying to get repayment in full.
However, BSI is a loan servicer so they will still contact you and follow up regarding repayments until your mortgage is paid in full.
Sometimes direct lenders do not want to also service the loss they originate so they might sell a mortgage to companies like BSI.
As of 2022 the CEO of BSI was Gagan Sharma who is both president and CEO.
BSI is owned by Service One, Inc. They were purchased in 2006. The parent entity is BSI Financial Holdings, 2012.
BSI is headquartered in Texas with offices in California and Pennsylvania. Their main address, according to their LinkedIn profile, is: 1425 Greenway Drive Suite 400 Irving, TX 75038, US.
BSI’s main phone number is 800-327-7861. You can also mail general correspondence to: Customer Care BSI Financial Services P.O. Box 517 Titusville, PA 16354-0517. You can send emails to: CustomerCarecontact@BSIFinancial.com
The best way to speak with a human at BSI is to call the customer care team at 800-327-7861. If you have issues getting in touch, submit a complaint about bad customer service too.
No, although both are mortgage lenders. New Residential Investment Corporation or NewRez was formerly known as New Penn Financial, LLC.
Yes, sort of. Servis One owns BSI.
FairShake complaints about BSI have to do with late payment fees, false advertising, and misleading marketing. In addition, those who paid off their mortgages faced significant delays with escrow refunds and issues with BSI claiming the accounts were late or delinquent when checks had been mailed and cashed.
You can pay BSI online with a one-time payment or recurring payments through the website by logging in to your account. You can also pay over the phone at 800-327-7861 but there is a fee. You can mail a payment to: BSI Financial Services P.O. Box 679002 Dallas, TX 75267-9002 OR for overnight payments you can send it to: BSI Financial Services Lockbox Number 679002 1200 E Campbell RD, STE 108 Richardson, TX 75081.
A payoff letter tells you what amount is left on your mortgage including any interest or fees. If you have paid your mortgage in full a payoff letter will provide verification. A payoff letter has to be ordered a minimum of five business days before your payoff date and it must be in writing from BSI. They advise you to contact customer service at 800-327-7861 to get your payoff letter.
There may not be public information out there about all current legal proceedings.
We do know that BSI settled a class-action lawsuit in 2019 over delayed escrow payments, inadequate overseeing services, failing to enter adjusted interest rates into the servicing system, and making it difficult for customers to view their loan information.
You can send a complaint against BSI to the Consumer Finance Protection Bureau, the Federal Reserve, or a regulatory agency for BSI. You can also make a complaint against BSI with FairShake.
Yes, you can make a claim for compensation against BSI if you think you have been harmed. However, how you do this is based on many factors such as the fact you have for your loan. You might have legal protection if, for example, you suffered a breach of contract.
How you can sue BSI is based on your situation and the terms of your loan contract. You might be able to use a traditional court case, small claims court, or binding. It is recommended that you speak with an attorney who can evaluate your situation individually. If you submit your complaint to FairShake, it will be shared with eligible lawyers who will review your situation.
This is a question for a lawyer. Class action lawsuits are designed for groups of people who come together under one lawsuit rather than file individually over the same, relatively minor, harm. Class action lawsuits may or may not be allowed depending on the terms of your loan agreement with BSI.
Yes, you can get a lawyer against BSI but whether you have grounds for a case is something you need to review with an attorney. Lawyers will investigate whether BSI violated their obligations to you and caused you harm by doing so, what amount of money was involved, and what evidence you have. If they agree that there was wrongdoing the attorney might represent you.
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