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BSI Financial to implement Fiserv’s LoanServ

Texas based independent third party mortgage servicer BSI Financial (BSI) is replacing its existing banking system with Fiserv’s LoanServ, to automate various manual processes and offer enhanced default management capabilities and other services to clients.

The company also provides mortgage subservicing, default management, loss mitigation, due diligence, real estate owned (REO) and quality control services.

The company has chosen the new payment platform in response of its robust growth and the need for expanded services, related to default management, loss mitigation and due diligence.

BSI president and chief executive officer Gagan Sharma said, "Not only will LoanServ enable us to provide our clients with more options, but it will also be an extremely flexible solution that allows us to tailor our services to each of our client’s unique business needs."

Leveraging LoanServ, the company can offer its clients customizable, private label sub-servicing and interim servicing more effectively and efficiently.

The new technology provides online data transactions, in real-time eliminating the limitations associated with an end-of-day batch processing cycle.

BSI offers clients with tailored systems to maximize the return on their investment by generating the highest value on their loans, lowering costs and reducing turnaround time.