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BSI Financial Services

BSI Financial Services

 1.1/5 (77 ratings)
  • 5 stars
  • 4 stars
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  • 1 stars
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About BSI Financial Services

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

BSI Financial is a loan service provider that specializes in mortgage maintenance. It partners with five different mortgage lenders to help you compare various rates and loan perks. The company’s services are available nationwide, and you can apply for loans through its website.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Compares rates from five lenders
  • Bill pay online
  • Available nationwide
  • Online application

Cons

  • Limited information on the website
  • Not a direct lender

Bottom Line

BSI Financial is a loan service provider for individuals and businesses. You can pay your bills and manage your mortgage through BSI online. However, the company has limited information about its loans on its website.

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See which lender is best for you!

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What is BSI Financial?

BSI Financial is a loan service provider with myriad financial services for individuals and companies. It uses cloud-based technology to promote transparency and financial visibility. BSI focuses on mortgage maintenance but also offers various other financial services, including:

  • Asset management
  • Quality control
  • Loan due diligence
  • Loss mitigation

You can access your account, make loan payments and receive insurance quotes through BSI’s website.

How does BSI Financial work?

If you’re looking to apply for a new mortgage loan, you can complete the loan application process on the BSI website. In addition to offering traditional mortgages, BSI also participates in the Making Home Affordable program, which helps borrowers apply for loan modifications. If you’re interested in BSI’s other financial services, contact the company to get started.

BSI Financial rates

Fees for BSI Financial’s mortgage services depend on the amount you borrow and other factors like your locked-in interest rate. However, some of its fees are the same for every borrower, including:

  • Appraisal: $350 to $550
  • Flood certification: $8 to $16 per certification
  • Title search: $0 to $500

You can also apply for a home insurance quote through BSI, and if you’re unable to afford the fees associated with your loan, you might be able to get hardship assistance.

BSI Financial FAQ

Where is BSI Financial available?
BSI Financial is based in Pennsylvania and Texas. However, its services are available throughout the U.S.
What kinds of loans does BSI Financial offer?
BSI Financial services performing and non-performing loans, focusing specifically on mortgage loans. You can have your home loans transferred to BSI and begin paying the company within 10 to 15 days of the transfer notification.
How long does it take to get approved for a loan with BSI Financial?
Since BSI Financial has access to five different lenders, you can expect to receive approval or an answer in between 48 hours and five business days. This time range will vary based on your application info.

Is BSI Financial legit?

BSI Financial is a legitimate company that offers several loan and financial services for individuals and companies. You can manage your loans and apply for new loans online with BSI. However, its website doesn’t offer a lot of information about its loans, which can make finding rates and the right loans difficult. Additionally, the majority of its customer reviews are negative in nature.

BSI Financial Services Reviews

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Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: Oct. 12, 2021

in February BSI bought our loans from Ethic, it took 4 months for them to get everything settled. They wanted ME to contact Ethic and do the legwork of getting the loan information to them. So I had to play middle man between both. Now I said BOTH loans, I only saw one loan. I asked them where the second loan was, I was told a number of different things. That they don't have it, maybe ethic still has it. If I don't see it on my online portal, then they don't have it yet. I'll see it when they get it. They just outright didn't know what I was talking about. They called me a few times as if something was wrong only to tell me that a payment went through. I just got a bill for the second loan, 130 days PAST DUE. The loan I'VE ASKED REPEATEDLY if they had yet. I contacted them and was told that I would have to make a separate online account for a separate loan, there's no way I would have seen the two loans in the same account.

While they called me to tell me a automatic payment went through on one loan, they never contacted me about the second one, which, again, I had asked repeatedly about. The woman on the phone claimed they had sent out bills for a loan that said they didn't know when they would get it. I didn't get anything from them about them getting this loan or setting up an account. I did look into this further, and apparently BSI has settled with the CFPB for mishandling "mortgage servicing transfers with incomplete or inaccurate escrow information". I contacted them again to make a payment and was put on the call back service. They called be back and hung up. Called again, here we are nearly a week laters still waiting for that call back. I also emailed them and still no response. This has been a nightmare.

BSI Financial Services response

Good Morning Chris,

I'm sorry to read about your experience with this situation. I'd like to assist you in resolving this matter. Consumer Affairs protects your identity so I am not able to identify you nor your information solely by 'Chris'. Please send me your name, account number, property address and best contact number. I'll have a call made to you upon your reply.

Thank You,

Daniel Montez

Be the first one to find this review helpful
Resolution In ProgressRated with 1 star
Verified Reviewer
Original review: Oct. 5, 2021

Absolutely the worst mortgage servicer we've had in over 40 years. Funds do not get applied timely. There is no customer service: if you send an email, it goes into a black hole; if you call, you go through a long menu, and always end up having to leave a message. They may call you back, eventually, but if you don't pick up, they won't leave a message, and they won't try to call again, so you'll never know if they tried in the first place. Rinse and repeat. If you are so unfortunate as to have an insurance claim on your property where the insurance company has issued payment requiring BSI's co-signature, be prepared to follow-up for weeks. If your mortgage is transferred to BSI for servicing - as that is the only way they get the business - run.

BSI Financial Services response

Good Morning Brian,

I'm sorry to read about your experience with this situation. I'd like to assist you in resolving this matter. Please send me your name, account number, property address and best contact number. I'll have a call made to you upon your reply.

Thank You,

Daniel Montez

Be the first one to find this review helpful

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    Resolution In ProgressRated with 1 star
    Verified Reviewer
    Original review: Sept. 28, 2021

    This is by far the worst customer service experience I had with a lender. On sep 12th I got a letter saying my monthly payment is increasing by substantial amount. I called them immediately and found out that they are collecting property tax and insurance. But I told them I am paying them separately. The CS said yes that was a mistake and told me she will open a ticket and call back. After 7 days and no response, I called them and was told it has been taken care of. But when I checked on my account it is still showing new amount. So I asked her and she said they have to run analysis which only runs monthly. She did not give me any ETA.

    I called again and was told this will be updated before sep 27. In the mean while I sent an email as well which I did not get any response for. And finally today my autopay deducted the increased amount. Still no communication. I asked them for a manager call back. Left a voice mail and never been contacted by them. This is the worst service ever and I am planning to do refinance which will at least care about customers. Don't ever do business with this piece of garbage company.

    BSI Financial Services response

    Good Morning Naga,

    I'm sorry to read about your experience with this situation. I'd like to assist you in resolving this matter. Please send me your name, account number, property address and best contact number. I'll have a call made to you upon your reply.

    Thank You,
    Daniel Montez

    Management

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 24, 2021

    I had to start a forbearance and was told to call my 1 contact for help and questions. I can't get a call back or help when I need it the most. I have called and called. Left voice-mail and have no idea if it was approved.

    BSI Financial Services response

    Good Morning Jason,

    I'm sorry to read about your experience with this situation. I'd like to assist you in resolving this matter. Please send me your name, account number, property address and best contact number. I'll have a call made to you upon your reply.

    Thank You,

    Daniel Montez

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 31, 2021

    When our original lender sold our account to this company I knew things were going downhill and I was right. These folks are terrible to deal with. Just completely useless. I wish I knew what made us a candidate to have our loan moved to them because I would have done anything possible to prevent it.

    BSI Financial Services response

    Good Morning Regina,

    I'm sorry to read about your experience with this situation. I'd like to assist you in resolving this matter. Please send me your name, account number, property address and best contact number. I'll have a call made to you upon your reply.

    Thank You,

    Daniel Montez

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 26, 2021

    We sold our house in July 2020 & paid off the entire loan due to BSI and yet they reported us late in August 2020! Because of this late we cannot buy another home, lenders consider this a huge red flag. BSI reported incorrect information to the credit agencies saying we were late. This is their mistake. In the last year we have called several times, written letters and submitted a Better Business Bureau complaint. No response from BSI.

    BSI has made it impossible for us to buy a new home. My husband had a stroke caused by the stress of trying to have the mistake corrected by BSI. This company does not care about their customers. BSI Credit department is unresponsive, unprofessional, does not want to correct their mistakes. Ruins the lives of their customers and there is no accountability.

    I have never had such a negative experience with any Mortgage lender. BSI is the absolute worse company in this area. We are trying to get a home loan right now and the mistakes made by BSI is still haunting us one year later. Our lender called them, no response. Now a credit agency AND the lender are calling no response. BSI Hides-behind their operators that answer the phone and guess what? There is no way to talk to the credit reporting dept to correct mistakes. BSI should be investigated.

    BSI Financial Services response

    Good Morning Evette,

    I'm sorry to read about your experience with this situation. I'd like to assist you in resolving this matter. Please send me your name, account number, property address and best contact number. I'll have a call made to you upon your reply.

    Thank You,

    Daniel Montez

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 18, 2021

    These guys are IDIOTS, questions cannot be answered online so you have to make a phone call. It takes about 45 min. to get through to a human because none of the prompts are applicable. They promise something and then fail to deliver, this has happened more than once. I am intentionally being vague so there are no repercussions. It is already too big a headache dealing with these BUTT STUPID IDIOTS!!! If you email them you have to go through their web-based email take a screenshot before you hit send so you have a copy yourself, they are obviously avoiding accountability. If I could give -5 on the rating I would.

    BSI Financial Services response

    Good Morning J,

    I'm sorry to read about your experience with this situation. I'd like to assist you in resolving this matter. Please send me your name, account number, property address and best contact number. I'll have a call made to you upon your reply.

    Thank You,

    Daniel Montez

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 17, 2021

    Never wanted to do business with this company but they purchased my mortgage from Zillow. I will be writing to Zillow as well concerning the companies that they do business with. They are very rude and could care less what you have to say on the phone, as well as, never accept their own mistakes that borderline on incompetence and illegal. Never believe their responses to any of the comments from this and other reviews as they are just copy/paste replies responses and will never contact you on your issues with them. Get everything in writing and make sure to make your own recordings of any and all conversations with them for your future legal actions.

    BSI Financial Services response

    Good Morning George,

    I'm sorry to read about your experience with this situation. I'd like to assist you in resolving this matter. Please send me your name, account number, property address and best contact number. I'll have a call made to you upon your reply.

    Thank You,

    Daniel Montez

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 11, 2021

    Suffered a house flood and insurance issued a repair check in the name of BSI due to their financial interest on my property. For checks <40K, BSI endorses the check and sends it back to you. For checks one cent over 40K, BSI elects to micromanage the repair process and withhold money until they receive documentation, lien waivers, contracts, etc. In need of the money for repairs, decided to play their process. This is where the real fiasco starts.

    1. Every single one of their policies is designed to stall out payment of the money. You send in forms - 2 business days for their system to process the documents and 5 business days for back office to review 4 sheets of paper. If a form doesn't have a date or loss number (plastered all over your account), you have to re-submit (another 7 business days before the elusive back office reviews). I could teach English to my immigrant grandmother and have her approve of a contract faster than BSI. If you call into customer service, 2 business days to call back because they have to review your file (no one actually reviews or follows up), can't get in touch with any decision makers or supervisors. Name of their game is to stall as long as possible

    2. They change their policy every call - claims documentation states, 40K will be disbursed upon receipt of 1) contract, 2) certification 3) W-9 forms. Upon submitting all documentation, a "resolutions specialist" informed me initial disbursement would be 25% of contract value, then it was 75% of contract value with another person, then it was 100% if I submitted a lien waiver but you would need an inspection. I called the resolutions specialist 3 times every week after that first call - voicemail every time, never returned a call. Could get the disbursement pushed forward

    3. Customer service isn't there to solve problem or help you - sole job is to list number of days you need to wait for the elusive back office. Each CS rep reiterates different policies, does not follow-up, does not provide escalation and can't get a decision maker on the line. They exist to read policy and delay your process.

    I submitted documentation for a contract 7/6. It's been over 5 weeks of processing, delaying with inspections and punting the disbursement so BSI can hold onto my repair money. This business should not exist or be propped up by the mortgage industry. Anyone who lands with them as a servicer because their mortgage has been sold should consider refinance. Policy changes need to be made so that racketeering shops like BSI do not take advantage of customers for profit.

    BSI Financial Services response

    Good Morning Janiel,

    I'm sorry to read about your experience with this situation. I'd like to assist you in resolving this matter. Please send me your name, account number, property address and best contact number. I'll have a call made to you upon your reply.

    Thank You,

    Daniel Montez

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 5, 2021

    My loan was sold to this company and they are the absolute worst!! They are difficult to reach and then once you do, they transfer you to person after person instead of just handling the problem. We refinanced back in March and still my account is showing delinquent. They keep saying everything went through and is approved but they won't update their files. I hate dealing with them and don't recommend them to anyone!!! If they buy your loan, hurry and refinance to someone else. I learned that lesson now.

    BSI Financial Services response

    Good Morning Jennifer,

    I'm sorry to read about your experience with this situation. I'd like to assist you in resolving this matter. Please send me your name, account number, property address and best contact number. I'll have a call made to you upon your reply.

    Thank You,

    Daniel Montez

    5 people found this review helpful
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    BSI Financial Services Company Information

    Company Name:
    BSI Financial Services
    Company Type:
    Public
    Address:
    314 S Franklin Street
    City:
    Titusville
    State/Province:
    PA
    Postal Code:
    16354
    Country:
    United States
    Fax:
    8142171366
    Website:
    www.bsifinancial.com