BSI Financial uses analytics tools to resolves loan problems before they escalate
Proprietary Analytics engine, Asset360SM uses loan data and business rules to identify exceptions before they affect loan performance
TITUSVILLE, PA (February 14, 2017) — BSI Financial Services, a leading provider of technology, loan subservicing and outsourcing services to banks and institutional investors in the residential mortgage sector, is using loan analytics to identify and resolve issues with loans before they become problems. By proactively focusing on loans with potential performance, compliance or customer documentation issues, BSI Financial is managing operating risk and improving loan quality with a high level of efficiency and effectiveness.
BSI ASSET360, a life-of-loan analytics engine that sits atop the company’s enterprise-wide data warehouse, examines every loan in the company’s $10 billion servicing portfolio and checks the entire portfolio for nearly 500 exceptions every day. Such exception reports are routed to operations, administration and onboarding teams for resolution. At the heart of this process is an exception-reporting engine developed using BSI Financial institutional knowledge plus input crowd-sourced from clients, ratings agencies and auditors. As internal and external feedback is provided, BSI Financial develops exception reporting around it.
Today, BSI ASSET360 produces analytics based on a data warehouse that consists of a daily refresh of more than 10,000 data elements that have been standardized across all loans. This data is used in compliance testing, time series analyses, exception reporting and to manage the firm’s data integrity program.
BSI ASSET360 also offers investor clients a unique window into loan performance. BSI Financial representatives and loan investors can examine empirical data and have a fact-based conversation about how loans are being serviced.
Borrowers also benefit from BSI ASSET360 automation. A new borrower portal enables consumers to instantly receive loan statements and documents as part of a new ePresentment capability.
“BSI ASSET360 represents a smarter way to service loans,” said Gagan Sharma, president and CEO of BSI Financial. “I can look at every loan every day and ASSET360 tells me where the exceptions are and allows me to catch exceptions much faster.”
“Having a common frame of reference takes the mystery out of servicing performance,” added Jared Walsh, senior vice president of analytics & conversions at BSI Financial. “All the things we need to fix a loan are right in front of us.”
“With BSI ASSET360, servicers, investors and borrowers have access to all of the information they need,” said John Lawrence, chief servicing officer. “Customers are demanding to live in a digital world to access information themselves at any time, and we are giving them the ability to do that.”
About BSI Financial Services
Led by a seasoned team of financial industry professionals, BSI Financial Services 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. With BSI ASSET360, clients have real-time visibility into loan status and performance, affording them 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 www.bsifinancial.com.