BSI Financial Services has hired mortgage servicing veteran Rob Willis as senior vice president and head of non-agency servicing, putting him in charge of a business that stretches across DSCR, bridge, build-to-rent, construction, and business-purpose loans.
Willis brings nearly three decades of experience in loan servicing and asset management for nonbank servicers, private equity firms, and institutional lenders. He has overseen more than $50 billion in assets across institutional platforms during his career.
At BSI, Willis will lead non-agency servicing operations covering complex residential and commercial real estate assets, including multifamily and commercial real estate loans as well as performing and nonperforming portfolios.
"Rob brings an exceptional combination of servicing expertise, asset management experience, and operational leadership," BSI founder and CEO Gagan Sharma said. "He has a proven record of building institutional-grade platforms, improving the performance of complex portfolios, and protecting investor returns."
Sharma said Willis' appointment will strengthen BSI's ability to serve its growing base of non-agency clients.
Willis most recently served as head of asset management and business-purpose loan servicing for GenStone Asset Management, a division of Fay Servicing. There, he built an asset management and servicer oversight platform spanning multiple residential and commercial asset classes.
Before joining Fay, Willis was senior vice president and head of servicing and asset management at CoreVest Finance, where he oversaw more than $10 billion in securitized and balance-sheet portfolios.
According to BSI, Willis helped reduce portfolio default rates from more than 35% to less than 3% during his time at CoreVest and led efforts that generated more than $300 million in distressed-asset mitigation.
The appointment adds dedicated senior leadership to BSI's non-agency servicing operation as the company continues expanding its broader mortgage servicing capabilities.
BSI received approval from Ginnie Mae in July to issue and subservice electronic promissory notes, allowing it to issue eNotes for eligible Ginnie Mae pools and service digital loans for other approved issuers.
BSI currently services nearly $50 billion in mortgages. In addition to its non-agency business, the company is an approved servicer for Fannie Mae, Freddie Mac, FHA, VA, and USDA loans and an approved Ginnie Mae issuer.
"BSI has built a powerful combination of servicing expertise, proprietary technology, and institutional discipline," Willis said. "I look forward to working with the company's leadership and operations teams to expand its non-agency capabilities and enhance portfolio performance."
Before entering the real estate and financial services industries, Willis served eight years in the U.S. Marine Corps.
