S&P noted several favorable conditions at BSI Financial, including its seasoned and experienced management team, its internal control framework, and a robust data reporting capability offered through its BSI ASSET360™ platform.
IRVING, Texas (PRWEB) May 15, 2018
BSI Financial Services, a mortgage-centric financial services company that is digitally transforming loan servicing throughout the loan life cycle, announces that Standard & Poor's has awarded the company an Average ranking as a residential primary servicer. This was the first rating Standard & Poor’s has awarded to BSI Financial Services and officially adds the company to the S&P Select Servicer list of servicers.
In its review, S&P noted several favorable conditions at BSI Financial, including its seasoned and experienced management team, its internal control framework, and a robust data reporting capability offered through its BSI ASSET360™ platform. The report also highlighted BSI Financial's ongoing investment in technology to further its servicing capabilities, strengthen operational control and improve efficiency.
S&P reported that the outlook for BSI Financial's ranking is stable and noted the sufficiency of its financial position.
"This rating reflects our ongoing commitment to innovation in servicing to improve efficiency, transparency and, ultimately, the user experience," said Gagan Sharma, BSI Financial president and CEO. "Continuous improvement is central to our ongoing quest to create sustainable home ownership. We are particularly pleased that S&P noted our robust reporting capability enabled by ASSET360, " he added.
BSI ASSET360 is a life-of-loan analytics engine that sits atop the company's enterprise-wide data warehouse. It examines every loan in the company's servicing portfolio, producing 300 to 400 exception reports each day that are routed to operations, administration and onboarding teams for resolution. These reports are used in compliance testing, to resolve loan-level exceptions, in time series analyses and to manage the firm's data integrity program.
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 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. BSI Financial is approved as a servicer by Fannie Mae, Freddie Mac, FHA, VA, the Federal Home Loan Banks and several private investors, is approved as an issuer by Ginnie Mae and is listed in Standard & Poor's Select Servicer list. It is ranked 1,756 on Inc. Magazine's 2017 list of the fastest growing private companies in the U.S. 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.