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BSI Financial Services

BSI Financial Services
Overall Satisfaction Rating 1.18/5
  • 5 stars
    3
  • 4 stars
    0
  • 3 stars
    2
  • 2 stars
    2
  • 1 stars
    89
Based on 96 ratings submitted in the last year

This company is not yet accredited. 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.

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.

PROS

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

CONS

  • Limited information on the website
  • Not a direct lender
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    Looking to refinance your mortgage?

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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
    profile pic of the author
    Verified Reviewer
    Original review: Jan. 15, 2021

    We have been with BSI since 2/2020. Absolute worst customer service (if you can get in touch with a person). They charge a late fee anytime a payment is made after the 1st (most banks and mortgage companies are up to 15 days). The response time for emails is ridiculous. We changed from auto drafts to mail in/online payments 3 months ago and it has been a disaster. Even when we had bi-weekly auto draft set up we would still receive late notices in the mail and receive phone calls half way through the month saying the payment was late. Cancelling the auto draft was quite a task, they never confirmed that the auto draft was cancelled. I called twice and waited for over 30 minutes on each call just for the person on the other end to pickup up and act like that couldn't hear me. If we weren't moving soon we would go elsewhere for financing.

    These people are worse then debt collectors that call repeatedly. With three different mortgage companies we have made our mortgage payments on the 10th-15h for the last 8 years because that's where our paydays fall. We have never had an issue or a late payment until being switched over to BSI. Even though they have two phone number and two emails on file for our loan, they googled and called my father in law who has the same name as my husband about not receiving our payment on the first.

    We don't have a relationship where we discuss finances, so that caused a problem. My husband works a graveyard shift, so he is asleep during the day. I guess they felt an email wouldn't be sufficient. They are the type of people I would not make a payment over the phone to or give out personal information, or even verify personal information. The one women I was able to speak to could not have been more unprofessional or clueless as far as our loan goes. I would literally choose any other lender (even at a higher interest rate) to avoid having to work with BSI in the future.

    BSI Financial Services response

    Good Morning Brooke,

    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
    Resolution In ProgressRated with 1 star
    Verified Reviewer
    Original review: Jan. 14, 2021

    Like everyone else, BSI now manages our mortgage. Homeowners insurance policy was not paid via escrow. I received delinquent payment notice from insurance. Called multiple times and they said it would be taken care of. Weeks later payment still has not been received. I'm afraid my taxes will not be paid either when due.

    BSI Financial Services response

    Good Morning Kevin,

    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: Jan. 13, 2021

      Our house burned down in a wildfire in Oregon on 9/8/2020. BSI has been holding our insurance funds to rebuild. After submitting all required paperwork and starting the construction, they will not send us any money to pay our contractor we are 2 months past due on his payment. We will eventually have to stop building if we cannot get our insurance funds and that could cause our family to be homeless if our rental lease ends before we finish building. My husband calls almost every day and gets no answers. They just keep making up more and more requirements for us to get funds. This company is so unprofessional. My parents also lost their house in the fire and have BSI. They have had just as bad of an experience with them. All we want is to build our house with OUR insurance money and they seem to be doing everything they can to prevent this from happening.

      BSI Financial Services response

      Good Morning Leah,

      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
      Resolution In ProgressRated with 1 star
      Verified Reviewer
      Original review: Jan. 4, 2021

      My loan was sold to BSI about two years ago. They do not have ability to receive ETF, but suggested I set up “auto pay” where they can deduct the payment. I declined the autopay offer. In order to have the payment credited to my loan, I am mailing the check on the 25th of the prior month in order for them to reflect the payment on the 10th when it is due. This was curious since the checks cleared my account between the 30th and 2nd of the month.

      Where was my money between the 30th and the 10th? I called and asked if they hold loan payments to collect interest in a clearing account and then post the payments the day they are due. Was told they never do that. I have three Return Receipt cards of them receiving my payments prior to the 1st of the month, with the checks clearing my account the day the RtnRcpt cards are acknowledged. Where is my money for those ten days ??

      I have called repeatedly - and as others - been on hold for an hour or more ????. Then, my November payment isn’t posted until the 17th?? I discovered that on my December statement when a late payment fee of $96 was charged. The $$ cleared my account on the 5th. WTH? No one can give me an answer, I was told the charge “would be removed as a courtesy” and guess what ... charge is still there on my January statement, and December payment was credited to the late fee, so guess what? I get dinged since I didn’t make a full payment ???? We only have three years left on this mortgage, but are willing to pay for a refinance to a company that knows what it is doing. Presume I will receive the same canned /auto reply as everyone else, just to discover no one by that name works for BSI ????. What a bunch of ????

      BSI Financial Services response

      Good Morning P,

      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: Dec. 29, 2020

      So, the folks who answer the phone are fine, but I am having the same issues other folks with getting my insurance and property taxes paid in a timely manner. I called about my property taxes as it's embarrassing to receive past due notices from your employer and was assured a payment would be sent out. Weeks later a 2nd past due notice received and they don't even have the county listed as the payor. Big sigh. I paid my property insurance as I definitely do not want that to lapse with the understanding BSI's payment will be applied to our auto which is coming due for 2021. We refinanced with Blue Dot (Cherry Creek) and all was well until they sold our mortgage. Not happy at all.

      BSI Financial Services response

      Good Morning Mary,

      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
      Resolution In ProgressRated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Dec. 23, 2020

      BSI Financial took over my mortgage when I refinanced. According to my previous mortgage Company, BSI is not supposed to take over the mortgage until 1-1-2021. BSI just sent me a letter saying I have missed 2 months’ payments. I have paid my previous mortgage company early for every payment I have had. I have tried to contact BSI to fix this several times and it is still an issue. BSI is saying they are going to report this as a default on our mortgage.

      BSI Financial Services response

      Good Morning Bryan,

      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
      profile pic of the author
      Verified Reviewer
      Original review: Dec. 22, 2020

      My mortgage company sold us off to these guys and my experience with these guys has been the worse. You literally have to babysit them to complete your requests; they never get things done in a timely fashion - and there is no return communication! For example, I requested as recast and only following it up (why it wasn't completed) I was advised of a missing signature. When requested to expedite my request, they assured it will be done before auto-pay hits my account. Obviously this was not the case. When phoned back and asked to speak with a manager, they put you on hold for the longest time.

      BSI Financial Services response

      Good Morning Tom,

      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 Monte

      4 people found this review helpful
      Resolution In ProgressRated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Dec. 21, 2020

      The purpose of an escrow account is so that you do not have to worry about insurance and tax payments. BSI has failed spectacularly in this one job. First, they missed payment on my home insurance and the insurance company threatened to discontinue coverage. After several hours of calls with BSI, we were able to resolve those issues.

      Now, BSI is nearly two months late in paying property taxes from my escrow account and the county is threatening penalties. After hours on the phone calling BSI every couple days and multiple emails with radio silence in response, this issue is still not resolved. This experience has been incredibly frustrating and I’m considering refinancing just to get away from BSI.

      BSI Financial Services response

      Good Morning

      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: Dec. 19, 2020

      Called BSI to schedule biweekly payments, to save money on my loan. Was told to keep making my monthly payments until I received my letter of approval. Received letter of approval and they started the draft. I have received two calls saying my payment was late. Trying to find out what has happened and no one seems to have an answer. 2 biweekly payments have already been drafted out of my account. I can't get anyone to help me. Bonnie **.

      BSI Financial Services response

      Good Morning

      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
      Resolution In ProgressRated with 1 star
      Verified Reviewer
      Original review: Dec. 17, 2020

      After reading some of the reviews it is exactly the same for me! I’ve never dealt with a more incompetent financial institution in my life, I thought BSI was beyond negligent, so I did some research on them and they are actually fraudulent in their practices. Apparently, even the Consumer Financial Protection Bureau’s lawsuit against them in 2019 didn’t persuade them to clean up their act. They hold your money in escrow and don’t pay your taxes or homeowner’s insurance—I highly recommend never using them.

      I emailed them 2-months ago all my tax information that they should have had when they failed to pay my taxes. They assured me they would take care of it and blamed the prior lender for not giving them the tax information. I'm old... I've refinanced many, many times and that has never happened to me. Then I got a late notice from my property taxes! So I called BSI again... and they had no tax information on file!!! I have the first email I sent to them with that information and it was sent to the correct email address! I sent it all a second time.

      Then today my homeowner's insurance company sent me a notice that they have had no success with multiple attempts to get my escrow company to pay my homeowner's bill. I went ahead and paid my taxes because I'd like to keep my home from going to auction! I've again reached out to BSI asking them to refund MY MONEY that they failed to pay my taxes and in fact close my escrow account, as I can do a better job of paying my bills. If this isn't all fixed within a month, I'll have my attorney deal with them in the future... They can better deal with bank fraud.

      BSI Financial Services response

      Good Morning

      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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      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
      Phone:
      8003277861
      Fax:
      8142171366
      Website:
      www.bsifinancial.com