BSI Financial Services Recruits Key Executives, Expands Management Team

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Industry Veterans Recruited to Fill New Positions in Servicing, Corporate Development

To prepare for growth in its core servicing and related business lines, BSI Financial Services (BSI Financial) today announces three new appointments to its management team. John Lawrence assumes the position of Executive Vice President and Chief Servicing Officer, while Akshay Singh is named Managing Director for Strategy and Corporate Development. Michael Whitfield is also named Vice President for Loan Administration.

“We are pleased to be able to attract the talent we see as critical to achieving our growth and performance objectives," said Gagan Sharma, President and CEO of BSI Financial. "These professionals solidify an already-strong management team and enable us to advance key initiatives that include ongoing process modernization, compliance readiness and business expansion," he added.

John Lawrence is a 20-year veteran of the mortgage industry, joining BSI Financial having served as Senior Vice President and portfolio manager for PIMCO, where he managed all aspects of loan trading operations, participated in capital development and was responsible for operations that supported consumer, student and auto loan investments. Lawrence was also a managing director for PennyMac, where he developed a post-closing and servicing platform to host 20,000 loans and was responsible for PennyMac’s capacity planning and budgeting. His experience also includes key roles at Wells Fargo, IndyMac Bank and Fremont Investment & Loan.

Akshay Singh has 15 years of experience in private equity, investment banking and management consulting. Prior to joining BSI Financial he was a Principal of North Cove Partners, a private equity group that was spun out of Merrill Lynch Private Equity, where he managed private equity investments totaling more than $1 billion in value. He has served on Boards of various public and private companies, including as a Board Director and member of the Audit and Compensation committees for Rexel (ENXTPA:RXL) and Euromedic, and as Board Director of Veninfotel.

Michael Whitfield previously served as Vice President of Loan Administration for Rushmore Loan Management Services, leading key servicing functions that included payment processing, audit, tax and insurance tracking, loss drafts and loan boarding. He has also held titles of Vice President, Servicer Compliance for 3Point Asset Management, and Director of Loan Administration for PennyMac. His career track also includes Assistant Vice President for Customer Service and Loan Administration for Fremont Investment & Loan.

About BSI Financial Services

Led by a seasoned team of financial industry professionals, BSI Financial provides mortgage servicing and special servicing, loan quality control, REO and asset management services, and servicer surveillance monitoring using proprietary data analytics tools. Leveraging its global delivery model and nearly 30 year performance track record, BSI Financial offers clients customized solutions using an advanced financial services platform called BSI ASSET360. In addition to facilitating reliable and efficient service that meets all current regulatory compliance and market standards, BSI ASSET360 provides real-time visibility into loan performance, thus creating transparency, 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.

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J L Martin
BSI Financial
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