BSI Financial Added to S&P’s Select Servicer List

May 16, 2018

BSI Financial Services has announced 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 Chief Executive Officer. "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.”

About the author

NationalMortgageProfessional.com

Link copied

Published

May 16, 2018

Regulation and Compliance

Bank Mergers Face Additional Scrutiny By FDIC

FDIC considers small businesses and residential loan originations when evaluating a merger’s competitive effects.

Bank mergers are expected to face increased scrutiny after the Federal Deposit Insurance Corporation (FDIC) Board of Directors approved a Final Statement of Policy (Final SOP) to its Bank Merger Transaction guidelines, finalized on September 17. The board also voted 3-2 i...

Analysis and Data

NAR Reports August Sales Slump, Aligning With Broader Industry Data

August sales dip, but analysts eye year-end comeback with lower rates and rising supply

Although existing-home sales fell again in August, lower mortgage rates and rising supply could propel a resurgence before the year ends. Existing-home sales retreated 2.5% in August to a seasonally adjusted annual rate of 3.86 million, sliding 4.2% from one year ago, th...