ComplaintsforBSI Financial Services

• Initial Complaint

  01/05/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  This company bought my mortgage unfortunately. I received my "welcome call" a week after I was supposed to stop making payments to my old mortgage company. I received a "welcome packet" in the mail 2 weeks after I was supposed to not pay my old mortgage company. So I didnt even know about this company or have payment info for this company until after I wasnt able to make payments to the old company anymore. Strike one. Strike two. My property taxes are due tomorrow. Given this companies reputation of not paying property taxes on time, I have been hounding them for about 2 weeks now to make sure it gets paid. Taxes are due tomorrow 1/6/22, today is 1/5/22, and they arent paid yet. Customer service is worthless, I asked to speak to someone about my property tax not being paid, and I get put back in the general customer service pool to hold another 10 minutes. This is the worst mortgage company I have ever seen in my entire life. How this place is still in business with these negligent business practices is beyond me!

  Business response

  01/12/2022

  Please see the attached.
  See Attachment/File: 1401131068_BBBCOMPRESP_1_1.pdf

  Customer response

  01/13/2022

  (The consumer indicated he/she DID NOT accept the response from the business.)
  It took a manager to go to my counties website to see that my old mortgage company paid my property tax (thank god) before this horrific company purchased my loan. All the while, every single person I spoke to, for weeks, kept telling me it would be paid in a few days. Every. Single. Person. So that tells me that this company didn't even have accurate records on my property tax to begin with. And apparently everyone that works there is told to keep telling customers "in a few days", while in fact no one knows what is going on. I know this mortgage company has already been sued once and settled for the same type of issues. Had I known that I could have looked this up myself I wouldn't have bothered with this negligent company.

  Business response

  01/24/2022

  Please see the attached.
  See Attachment/File: 1401131068_BBBCOMPRESP_2_1.pdf

  Customer response

  01/26/2022

  (The consumer indicated he/she DID NOT accept the response from the business.)
  What's funny is the attachment responses says they addressed the issue with me via the mail. Yes I can confirm I received 2 letters from this horrid company, but all the letters said is that they are looking into the issue. I wouldn't say that is a resolution at all.

  Business response

  02/14/2022

  Please see the attached.
  See Attachment/File: 1401131068_BBBCOMPRESP_2003_1.pdf

  Customer response

  02/15/2022

  (The consumer indicated he/she DID NOT accept the response from the business.)
  They are careless with their responses. Careless with information and paperwork. They haven't even reported my account to the credit agencies and I have supposedly been with them for more than 60 days now. This place needs to be shut down.

  Business response

  02/23/2022

  Business Response /* (1000, 5, 2022/01/12) */ Please see the attached. Consumer Response /* (3000, 7, 2022/01/13) */ (The consumer indicated he/she DID NOT accept the response from the business.) It took a manager to go to my counties website to see that my old mortgage company paid my property tax (thank god) before this horrific company purchased my loan. All the while, every single person I spoke to, for weeks, kept telling me it would be paid in a few days. Every. Single. Person. So that tells me that this company didn't even have accurate records on my property tax to begin with. And apparently everyone that works there is told to keep telling customers "in a few days", while in fact no one knows what is going on. I know this mortgage company has already been sued once and settled for the same type of issues. Had I known that I could have looked this up myself I wouldn't have bothered with this negligent company. Business Response /* (4000, 9, 2022/01/24) */ Please see the attached. Consumer Response /* (4200, 11, 2022/01/26) */ (The consumer indicated he/she DID NOT accept the response from the business.) What's funny is the attachment responses says they addressed the issue with me via the mail. Yes I can confirm I received 2 letters from this horrid company, but all the letters said is that they are looking into the issue. I wouldn't say that is a resolution at all. Business Response /* (4000, 14, 2022/02/14) */ Please see the attached. Consumer Response /* (4200, 16, 2022/02/15) */ (The consumer indicated he/she DID NOT accept the response from the business.) They are careless with their responses. Careless with information and paperwork. They haven't even reported my account to the credit agencies and I have supposedly been with them for more than 60 days now. This place needs to be shut down.

  Customer response

  03/18/2022

  This awful mortgage company bought my home loan, and this was back around the beginning of December 2021. 30 days went by and nothing was being reported to the credit bureaus, as it states they DO report to all credit agencies on their own website. I was informed the last time I inquired about it, that the reporting would start in March. Why I was told it takes them 90 days to report, just shows you how unorganized and unfit this company is to even be handling home loans. But today, its been over 90 days since my loan ended up in this companies hands, and not surprisingly, there still is no reporting to any agencies. I called again on 3/17/22 to inquire as to why my loan still isnt being reported and **** informed me that they will begin reporting in April, now this is a whole month after my first call where I was informed 90 days, in MARCH. I was placed on hold multiple times so she could "look" at my loan, especially after I informed her that the first time I called I was told MARCH. December to March is 90 days...counting is apparently hard for this company. 22 minutes later, **** got back on the phone, to inform me that she looked back through my notes and seen where the first representative told me March, but that wasnt correct. So we have CSR's giving out inaccurate info according to ****. And **** went on to tell me that April 10th would be the reporting date, which according to my calculations is over 90 days. I called back a 2nd time, to a lady with an attitude, whos name I didnt get, who argued with me that December to March isnt 90 days, and reporting begins after 60 days, not 90. So it seems everyone gives a different answer. So issue is not solved. This is my second issue with the company and my second BBB report, and all they do is send a letter in the mail stating its being looked into.
  

  Business response

  04/10/2024

  Please be advised that the response was mailed directly to the borrower, today 04/10/24. Please allow time for the response letter to arrive.

  Customer response

  04/12/2024

  I am rejecting this response because:   I havent recevied anything from the business in response to my BBB complaint.  I havent recevied a refund of ALL the fees Ive incured, nor has my account been sold to a competent mortgage company. 

  Business response

  05/23/2024

  This has been resolved. A full response letter was mailed directly to the borrower on 04/10/24.

  Customer response

  05/23/2024

  I am rejecting this response because:   
  

  this should have been addressed 2 years ago. 

• Initial Complaint

  12/27/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I filed for forbearance on my mortgage over the summer of 2019. The forbearance was approved and for a year I had no problems. Since July 2021 I have been making regular payments and have been trying to resolve the past due amount that did not get paid during the forbearance. My forbearance has been canceled and I am now getting late notices. I have tried calling my single point of contact during his stated business hours but he will not answer. I have left him voicemails and sent emails with no response. I try to contact the financial hardship department and get nothing but voicemail and no return calls. My payments are going towards the past due balance instead of the current month, and they are reporting that I am past due on my credit report and damaging my credit, without giving me the ability to rectify the problem.. They also stopped paying my homeowners insurance which is part of my mortgage payment, and then informed me that I had to provide them with proof of insurance, even though my mortgage payment has not changed.

  Business response

  02/16/2022

  Business Response /* (1000, 5, 2022/01/12) */ Please see the attached response. Please note that the full response was mailed to Mr. ******'s mailing address via regular mail on 01/12/22. Please allow time for it to arrive.

• Initial Complaint

  12/22/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  My loan for my mortgage was sold to BSI Financial Services. My property taxes are now delinquent. I have over 8000 dollars sitting in my escrow. I have called BSI 5 times over the last week to get this resolved. If they dont get my taxes paid by Dec 28th they could be taken out of my tax return or be sent to collections. I am going to be forced to pay for them out of pocket before the 28th instead of being paid from escrow like its supposed to be because BSI is not handling the problem in a timely manner. Their customer service is terrible, they are always polite but nothing gets resolved even when they say they are going to escalate it. I have been told by every agent that they will call me back with a update. None if them have called me back including the supervisor Johnathon at extension 0192. At this point I will probably try to refinance so I dont have to deal with them any longer.

  Business response

  04/14/2022

  Business Response /* (1000, 5, 2022/01/04) */ Please see the attached response. Please note that the full response was mailed to the borrower's mailing address on 01/04/22. Please allow time for the response to arrive. Consumer Response /* (3000, 12, 2022/01/15) */ I have received the letters from BSI financial. I provided the paperwork they requested via email to refund me back the taxes I paid out of pocket because they failed to do their job correctly. It has been over a week and no response or check has been sent out to me. This is BSI in a nutshell, they fail to do their job. This loan servicer is absolutely terrible. I stress to anyone that gets a loan do not have BSI service your loan. Business Response /* (4000, 14, 2022/01/26) */ Please see the attached. Please note that the full response was mailed directly to the borrower's mailnig address on 01/26/22 via regular mail. Please allow time for the response to arrive. Consumer Response /* (3000, 20, 2022/02/22) */ Well I am back here again with another complaint concerning BSI financial and their inability to communicate and provide answers to questions I have. I have sent two emails over the last weeks concerning my escrow disbursement that is $4900+ back in Aug 2021 that was taken out then put back into my escrow. I have asked when this disbursement will be sent to me but no answers! The first email sent I got a generic message saying they are processing my request but no answer ever came. This has been over 3 weeks I have asked and nothing. This is the standard BSI procedure of not doing anything to serve customers! BSI is the worst mortgage servicer I have ever dealt with period! Hopefully they pay my taxes this year! We will see. Business Response /* (4000, 24, 2022/03/21) */ Please see the attached extension. BSI requires additional time to research the account and prepare a response. A response will be mailed by 04/11/22.

• Initial Complaint

  12/15/2021

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  In early November, we received our Annual Escrow Account Disclosure Statement. This statement inaccurately stated our tax responsiblity. It stated that the Escrow Account would need to make payments of $4,043.36 totaling $8086.72. This is wrong because in our state we have two payments of unequal amounts. Our first payment is for $2,361.79 and our second payment is for $4,043.36, totaling $6405.15. Because of this discrepancy, our monthly payment went up significantly. I called immediately, they said they would look into it. I called again on December 3, 2021 and sent supporting documentation of the tax bill for $2361.79. They said they would "escalate" the issue and call back within 48 hours. I called again today, December 15, 2021 and was told the same thing. I would like a new Escrow Analysis that accurately reflects our tax responsibility and I would like our monthly payment to reflect this as well.

  Business response

  02/11/2022

  Business Response /* (1000, 5, 2021/12/28) */ Please see the attached response. Please note that the full response was mailed directly to the borrower via regular mail on 12/28/21. Please allow time for the response to arrive.

• Initial Complaint

  12/11/2021

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I am filing a complaint against BSI for charging me an incorrect mortgage amount and failing to fix it. I refinanced my home with Cherry Creek Mortgage and was left with a $2,110 monthly mortgage payment and was sold to BSI right after. A year later of being with BSI, BSI notified me of an escrow shortage of $5,000.86 and that my monthly payment was increased to $2,846.27. This increase happened in July 2021. They said that amount would be for a year until they have fully collected the shortage and then it would down to $2,446. That is when I called them for a re-evaluation because I don't know how this shortage happened. They said it was because taxes increased. After that, I waited for a month and a half to get an answer for them for the evaluation. I called many times and they told me it would take atleast a month and then finally, they said they didn't do it because the numbers are right. Meanwhile I was waiting, I was doing my regular payment of $2,110 while I waited. They added late fee's to my account and credit report. Also, everytime I call its over an hour waiting for someone to answer and most of the time, no one does and I rarely got callbacks. Each time I talked to an agent, they would say the last person didn't submit the request right and had to redo it and wait for more business days just to be told the same thing again. So I decided to pay the shortage amount in full after already paying 4 payments of the $2,846.27. I called an agent and they told me the amount I had left to pay and it was $3,333.00. I paid that in November and they told me my payment will now be $2,568 but they told me before that it was going to be $2,446. I've been calling DAILY talking to a different person each time and no one can give me a correct answer. I haven't made a payment until someone tells me the correct numbers but nothing has happened yet. Also they haven't paid any insurance meanwhile my insurance company keeps sending them payments and they say theydidnt getit

  Business response

  02/11/2022

  Business Response /* (1000, 5, 2021/12/27) */ Please see the attached. Please be advised that we need additional time to fully research and respond to your inquiry. A full response will be provided by or on January 18, 2022.

• Initial Complaint

  12/11/2021

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I am refinancing my mortgage this company is handling. I have asked for my mortgage statement because I have always managed the account online. The statement is not available online and they have not emailed it to me after 1/2 a dozen request via their site and and another 1/2 a dozen phone calls. This company has done some very deceptive and destructive practices in the past. I just want my statement. The site doc center says enable cookies but i have tried it from several PCs and it is purposefully like that. This company owners should go to jail for their practices. Please help.

  Business response

  02/09/2022

  Business Response /* (1000, 5, 2021/12/22) */ Please see the attached. Please note that the full response was mailed directly to the borrower's mailing address via regular mail on 12/22/21. Please allow time for the response to arrive.

• Initial Complaint

  12/02/2021

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  My complaint concerns a mortgage with account #XXXXXXXXXX. On 3/22/2021, BSI deducted $4,172.89 from my mortgage's escrow account to pay property taxes in Washington, DC. But BSI placed the wrong lot/parcel number on the payment, meaning that the amount was never paid for my property. I became aware of BSI's mistake in August 2021, called the company, and set the record straight. BSI proceeded to pay my property's taxes by deducting another $6,598.96 on 10/4/2021 from the mortgage escrow account so that the taxes are now up-to-date. The problem? BSI has not refunded my escrow account the $4,172.89 that it had paid in error. As a direct result, my escrow balance is significantly negative (-$2,601.35) and for the year ahead BSI is increasing my monthly payments by a whopping $416.57 to cover the total tax costs. In other words, BSI is passing the cost of their error directly onto me by deducting these tax paymentswhether for my property or notfrom the escrow balance. BSI has not been helpful in resolving this problem. Every time I call the company, I am told that the issue is getting flagged for the tax department but I am never allowed to talk to the tax department directly in order to get even a simple confirmation that my case is under active work. Nor am I allowed to talk with a supervisor despite the customer service representative saying that s/he is consulting with a supervisor. I also receive reassurances that I will be called back with an update but that has yet to happen. I say this having called BSI at least 20 twenty times and literally having spent hours trying to resolve the issue by phone. Emails go unanswered too. I ask for the BBB to intervene on my behalf for BSI to resolve this by crediting my escrow account the $4,172.89 paid by mistake and immediately returning my monthly payment amount to its previous amount of $3,294.85. If BSI does not take these actions, it is unfairly penalizing me in the process of covering its mistake. Thank you.

  Business response

  02/16/2022

  Business Response /* (1000, 6, 2021/12/20) */ Please see the attached extension letter. Please be advised that we need additional time to fully research your account and provide a full response. A full response will be provide before or by 1/11/22. Consumer Response /* (3000, 14, 2022/01/04) */ Dear BBB Caseworker, My apologies, may I ask that you reopen the below complaint I had filed against BSI Financial? I do so because the business' response does NOT satisfy my concerns. EXPLANATION: The case file has a note dated December 20 that the business had a requested an extension and that "A full response will be provide before or by 1/11/22." I interpreted this as saying that I, as the complaint filer, would similarly have until 1/11/22 to assess whether the business was going to respond to the issues that I had raised. And as of today, 12/29/2021, I have seen only a non-committal response that is essentially no different than what I have been told for months. In the meantime, my mortgage payment has increased by $400+ for the month of January, which will be debited from my bank account imminently. Therefore, I do NOT consider the matter resolved and I am NOT SATISFIED with a response that only seems to unnecessarily prolong the resolution of my problem. I am waiting for BSI to make good on its word that this will actually be handled appropriately. The proof will be in the monthly mortgage amounts, which remain at the unjustified higher amount. REQUEST: Re-reading the email below, I see that I clearly confused the deadline of 12/28/2021 with the expectation that I would hear from the business by 1/11/2022. Kindly re-open this case until at least 1/11/2022 so that I can ensure and record what (if any) action the business takes to correct its erroneous handling of my case. Thank you, ******* ***** XXX-XXX-XXXX Business Response /* (4000, 16, 2022/01/13) */ Please see the attached. Please be advised that the full response was mailed directly to the borrower's mailing address via regular mail on 01/13/22. Please allow time for it to arrive. Consumer Response /* (2000, 18, 2022/01/14) */ (The consumer indicated he/she ACCEPTED the response from the business.) The company has refunded my mortgage escrow account the $4,172.89 that it paid in March 2021 in error for another property's taxes. As a result, I am seeing a consequent reduction in my monthly mortgage amounts. Thank you, Better Business Bureau, for your intervention and help in this matter!

• Initial Complaint

  12/01/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I paid off my loan in full on 07/30/2021. According to the contract they have 90 days to release the lien. It is now 12/1/2021 and this has not been processed. After over 10 calls between myself and my property attorneys office we still do not have the required paperwork. This is preventing the title company from releasing my funds after selling the house as BSI has not filled or provided me with the proper documentation to show the lien release. This is costing me 1500 a week in hotel room expenses as I can not use the money for a down payment on my new property and if it continues for much longer I will loose more if I have to find another property to buy.

  Business response

  02/04/2022

  Business Response /* (1000, 5, 2021/12/06) */ Please see the attached. Please be advised that we mailed the full response to the borrower's mailing address via regular mail on 12/6/21. Please allow time for the response to arrive.

• Initial Complaint

  11/30/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Problem started about 4 months when the escrow payment went up and we didn't include that with the payment we sent. Our fault. When we found out about it another payment had already been sent without the additional escrow. So we sent them a separate check for the missed escrow payment. We adjusted future payments to include the addition escrow payment. Everything should be fine. Every month since then we've been getting calls saying that we're late on a payment. When I call them back I explained what happened with the escrow and they say that they'll get the cashier to correct it. But the next month we have the same issue. So nothing was corrected. Twice the agent I talked to said they would call me back when they hear back from the cashier. They volunteered to do this, I did not ask them. They never called back. It should be noted that our bank automatically sends the payment every month to BSI. This is to make sure that the payment is made and that it's on time. BSI has charged us late fees, when we haven't been late, and now they have reported a missed payment has been added to our credit reports. THIS IS NOT TRUE. However, yesterday we get a letter from Union Bank saying that they cashed the check by mistake. This was the check for the November payment. Has been no explanation how Union Bank got the check. The check was sent by our bank to the same address they have always used. So we can see why BSI is saying that we missed a payment but it's not because it wasn't sent on time but because it was mishandled by BSI or Union Bank. Therefore, our credit reports need to be corrected and all late fees for the last several months need to be removed. Union Bank sent us a check to reimburse us since they had cashed the payment and we've just sent another payment to BSI.01*// Acct #: XXXXXXXXXX *****///

  Business response

  01/04/2022

  Business Response /* (1000, 5, 2021/12/15) */ Please see the attached. Consumer Response /* (3000, 7, 2021/12/16) */ (The consumer indicated he/she DID NOT accept the response from the business.) The letter they sent me didn't say they were going to make a correction to the credit bureau nor did it say that they were going remove late fees. The last statement said we still owe for November and December when both have been paid. So it obviously hasn't been corrected. Didn't receive any explanation as to why this happened. Business Response /* (4000, 9, 2021/12/17) */ Our records indicate that we mailed the response letter on December 15, 2021. Please allow time for the response to reach you. Consumer Response /* (4200, 11, 2021/12/20) */ (The consumer indicated he/she DID NOT accept the response from the business.) BSI's letter said that the credit agencies were notified that the September payment wasn't posted until September 30th when it was due on the fist. They received the payment on time and it was their decision to not post it until the 30th. Granted, it was short on escrow by $60 so they ignore the other $1,200.00 and say we were late. Totally ridiculous. They've ignored the copy of the Novembee check that was made out to them with the correct address and on time. But somehow it ended up at the wrong bank. We did everything we could do to pay the November payment on time. But they ignore this and report on to the credit agencies anyway. They provided no explanation as to why phone calls were not returned or why for 4 months they hassled us about late payments that were not late. Their letter offered no apologies and doesn't explain why the latest statement from them says we still owe for two months when we're current, which the now admit.

• Initial Complaint

  11/19/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  It is impossible to resolve an issue with BSI. I have a no-escrow mortgage. Nevertheless, this did not stop them from paying my property tax that I paid already. The property tax was returned to BSI by Cook country. However, BSI is trying to collect a debt. Several calls have been not resulted in a permanent correction. Agents always tell me the right thing but don't resolve. I am not allowed to talk to a supervisor to resolve. At this point I don't know how to resolve.

  Business response

  02/23/2022

  Business Response /* (1000, 8, 2021/12/06) */ Please see the attached response. Please note that the full response was mailed to the borrower's mailing address on 12/6/21 via regular mail. Please allow time for the response to arrive. Consumer Response /* (3000, 15, 2021/12/28) */ Hi, Please reopen this case as it still ahs not been resolved. I am still getting wrongful past-due notices despite all assurances by the business over the phone they have not fixed the issue. Regards, ******* Business Response /* (4000, 17, 2022/01/07) */ Please see the attached response. Please note that the full response was mailed directly to the borrower's mailing address on 01/07/22. Please allow time for it to arrive. Consumer Response /* (4200, 19, 2022/01/10) */ (The consumer indicated he/she DID NOT accept the response from the business.) Hi, The response states that they have addressed the topic with me. This is not correct. They have not referenced my issue. Meanwhile, I called again and was promised a resolution which two weeks after did not yield a resolution. At this point I still see a $58 late fee for BSI not cashing a check for over a month. The check was sent by Citibank on an automated basis. Business Response /* (4000, 22, 2022/01/31) */ Please see the attached. Please note that the full response was mailed directly to the borrower on January 31, 2022 via regular mail. Please allow time for the response to arrive. Consumer Response /* (4200, 24, 2022/02/01) */ (The consumer indicated he/she DID NOT accept the response from the business.) The business did not address my concern issue. I still have a late charge on my account that was not caused as a result of my action. The letter sent to me does actually not talk about the issue at all. Business Response /* (4000, 27, 2022/02/07) */ Please see the attached response. Please note that the FULL response was mailed directly to the borrower on 02/07/22 via regular mail. Please allow time for the letter to arrive.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩