ComplaintsforBSI Financial Services

• Initial Complaint

  02/01/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I am writing to express my deep dissatisfaction and frustration with the service I have received from BSI Financial Services over the past 10 months. Despite my repeated attempts to address the issue, there has been a consistent failure on your part to process my requests regarding escrow payments.For the past 10 months, BSI Financial Services has been collecting escrow amounts from my bank without making the necessary payments for insurance and property taxes. This negligence has put me at risk of being delinquent with the government and jeopardized my property insurance coverage. I have made many calls and sent emails seeking resolution, but my concerns have been ignored.Furthermore, I have been requesting a refund of the escrow amount for the past 10 months. It is unacceptable that BSI Financial Services has held onto my funds without paying interest. Today, I was informed that a check will be issued for the balance, but as of now, I have not received it. This delay is causing significant stress and financial strain.I demand a prompt and detailed explanation from your company for the 10-month delay in processing my requests. Additionally, it is only fair that BSI Financial Services compensate me for the lack of interest on the funds held during this period. I insist on receiving an interest payment of 10% on the escrow amount for the 10-month duration.I expect urgent attention to this matter, as it has already caused considerable inconvenience and potential financial harm. I appreciate your immediate action to resolve these issues and prevent any further delays or complications.

  Business response

  02/16/2024

  Please see the attached. 

  Customer response

  02/21/2024

  I am rejecting this response because:   

  . According to their response dated February 16, they have purportedly sent me a letter outlining a solution to the matter at hand.However, to my disappointment, I have yet to receive any such correspondence from them.

  Business response

  02/26/2024

  Hello, we mailed a second copy of the 2/16/2024 response to you today. Please allow time for it to arrive. 

• Initial Complaint

  01/24/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  In filing for a loan modification due to serious hardships, I had an attorney send in the request to get the modification process started. I was advised that I would be put into a program for Covid Relief because my main reason for falling behind on my mortgage was due to having Covid three times and couldn't seem to get my life back on track as a long hauler. I started the process in November 2022. I was given a 3 payment trial plan and told that my loan would be modified upon successful completion of those payments. That was when the interest rates were at a much lower amount. So April/2022 to June/2022 was completed when rates were at 5%. But they waited an additional four months of additional timely payments when interest rates skyrocketed to give me the *****% making my monthly payment $400 more than it already was. What is even more mind boggling is that they said the program they were placing me in was to for Covid relief was suppose to help lower my loan not increase it. I have supporting documents to substantiate this. The program was COVID-19 Recovery Modification. So I started with a $1997.97 trial payment and wound up at $2397.00 because they waited an additional four months until interest rates went up to give me the modified rate. I should have been given the rate that was when I completed my final trial payment as per their wording not mine. The documents I have go against everything they said they were going to do for me and now I can't afford my home anymore. I want my loan to be at the interest rate it should have been upon completion of my third payment as per their wording. Modifications are suppose to help a person not destroy a person and their livelihood.

  Business response

  02/09/2024

  Please see the attached. 

• Initial Complaint

  01/17/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  BSI serviced a short term loan that I was paying I always paid on time had it set up on auto pay when the loan term was due i asked for an extension for another 3 months it took the lender time to ***** it at that time while waiting for it to be *****ed they did not do the autopay and made the loan late when calling them about them not taking payment they advised i have nothing to worry about it wont be reported to my credit since they cant accept payment till the loan is extended after the loan was extended i paid in full and then got an alert from my credit report that bsi reported 2 late payments which made my score go down over 150 point which is not allowing me to take any loans and does not allow me to operate my business. i was clearly told that this wont happen by there representative

  Business response

  01/23/2024

  Please be advised that the response was mailed to the borrower via regular mail on 01/23/24. Please allow time for the response to arrive.

  Customer response

  02/02/2024

  I am rejecting this response because:   i got the letter they just asked which loan# which is for property **** *************** ********** **

  Business response

  02/06/2024

  Hello, we have mailed the full response directly to the borrower via regular mail on 02/06/24. Please allow time for the response to arrive. Thank you!

• Initial Complaint

  01/17/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  My new Mortgage was sold to BSI in late November 2023. My first mortgage payment was due on December 1, 2023. I processed an electronic check payment to the original Mortgage Lender for payment on December 1 2023. When I received notification of the change in Mortgage companies, it was too late to change the payment details and my payment went to the previous Mortgage company.In mid December I started getting late payment notifications from BSI. I contacted the original company and was told they received my payment on December 4 and forwarded the money to BSI on 5 Dec. This payment has yet to be credited to my account, (as of Jan ********. I have had a number of calls with BSI to try to resolve this issue with no resolution to date. They keep telling me not to worry while at the same time I continue to get late payment notices from BSI/.

  Business response

  02/05/2024

  Hello, the full response has been mailed directly to the borrower today 02/05/24 via regular mail. Please allow time for the response to arrive.

• Initial Complaint

  01/11/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I paid BSI Financial $450 for an appraisal for the purpose of PMI removal. The appraisal was completed, but despite many, many phone calls and emails to get a copy of the report, I still have not seen a copy of the report. Asking for a refund of the fee since they refuse to provide the information I am owed.

  Business response

  01/30/2024

  Please see the attached. 

  Customer response

  02/03/2024

  I have reviewed the business response and accept this resolution. They mailed a copy of the appraisal.

• Initial Complaint

  01/10/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I built/purchased a new home in **********, ** in November 2022. In May 2023, I accepted a job offer in ********, **, so I put the home on the market (initially in mid-June). The house has not sold, and I have not received any offers, despite a realtor incentive and lowering the asking price 3 times. As of October 2023, I could no longer afford to maintain the home in ** and pay for my living expenses here in **, so I reached out to BSI for assistance in October. October was the last mortgage payment I made, and I was clear about that every time I spoke to BSI. At least 2 customer service reps assured my that as long as my account was current when I first reached out for a workout plan, that would be fine. I have been trying to get a deed in lieu granted and BSI has been terrible about communicating with me from the beginning. Every time I reach out, I am told something different. They have not communicated with me AT ALL on their own about this process.I believe BSI is in breach of contract, as they did not provide me with a decision about my application within the 30 timeline that they note on the application itself. At this point, over *********************************************************************************************** calling and demanding an update. There are usually no updates, rather, they tell me someone will call me back who inevitably never does. There are other statements on the loss mitigation application about what actions they will take, which they have not. I believe they are also in violation of several laws governing this process. When I asked a representative about this breach/delay, she told me they were busy helping a lot of borrowers. I told her that not only was that not a valid excuse (Im busy too, and now have to add calling them to my list of things to do), but that even if that was the case, no one has ever contacted me to explain where we are in the process or what to expect, including a timeline.

  Business response

  01/30/2024

  Please see the attached. 

  Customer response

  02/01/2024

  I am rejecting this response because:   BSI's response did not address my complaint. I filed the complaint in December 2023 after several weeks of inaction, failure to communicate and inappropriate business dealings. BSI's response did not address ANY of the issues I've had with communication and being given inaccurate information (or none at all). The issue of the deed in lieu denial is a perfect example: The deed in lieu that I requested was denied by HUD because I was supposed to attempt a short sale first. No one at BSI ever told me that the standard procedure was to attempt a short sale prior to a deed in lieu request.Had I known that going straight to a deed in lieu request was considered an "exception" to the usual process, I would NEVER have asked for it as my first course of action. I have been trying to get assistance from BSI since October 2023. Even in sending me the denial letter, BSI has not been helpful in telling me about next steps. I had to reach out to them to ask for an update before they even sent me the denial letter. I have sent emails with 3-4 questions, and their response has been to minimally address only one of my questions. This is not ok and should be illegal. Now, I have to start the process of doing a short sale and am required to list the property for 4 months before requesting a deed in lieu. Had BSI told me that this was the usual process, I could have done the short sale back in October/November and been finished with the process of relinquishing ownership of the property. I am NOT SATISFIED with BSI or their response to this complaint. This is an unacceptable way to do business and I believe BSI should be fined and ordered to pay damages to me and all other consumers they have treated this way. This is impacting my ability to function and has taken over my psychological wellbeing. As of today (2/1/24), I STILL have not received a call, postal mail, email, or message in BSI's portal about my status and/or next steps.

  Business response

  02/09/2024

  Please see the attached. 

• Initial Complaint

  01/05/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  The lack of urgency in regards to mitigating a home on fire is next level, especially when the insurance policy pays out to BSI and they make you literally jump through hurdles to get anything done. They claim they have an interest in getting the property repaired. But show no sense of lets get things done when sent required documents asked. I have 337k in limbo to renovate a home totaled out in a home fire. My tenants are displaced and its been h*** for them, btwn the shady late fees, the shady dragging of feet to have anything done. Everything is designed for the home owner in hardship to have their property swept from under their feet.

  Business response

  01/23/2024

  Please be advised that the full response was mailed directly to the borrower via regular mail on 01/23/24. Please allow time for the response to arrive.

• Initial Complaint

  12/27/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  My late ex-husband, a 20 year Army Veteran, has a loan with BSI Financial for his home he owned. He committed suicide in February leaving behind our two young children and his house to sell. We have a buyer for the house and discovered this loan he had only a week before the closing date on December 27th. We called BSI and requested the payoff quote on December 20th explaining the situation and sent all supporting documentation they requested the same day. Understanding that it takes up to 5 days to process and mail out, we requested it to be faxed given the circumstances. They agreed and said it would be faxed in 48 hours. Nothing was received. A call on December 26th was placed by the executor of the estate and we were told A) the documents needed had not been uploaded and B) the loan was held up at quality assurance. I was then told that they would fax the payoff quote that same day and we would receive it in 24 hours. As of today, Dec 27, 2023 at 11:02am, no payoff quote received. The executor called back and was told that it was still at quality assurance and the date it would be finished is January 2, ****. We asked for a verbal quote on the payoff amount as the title company is willing to work with that to get the house closed. She was told no and had to wait for quality assurance to finish. This is well over the 5 days AND well over the two promised timelines for the fax to be received. We could lose the sale of the house due to their inability to produce the payoff quote in a timely manner. Due to the circumstances we are in, I would think a loan company would want to help to RECEIVE their money back. This is disgraceful and can negatively impact the financial health of his two children he left behind.

  Business response

  01/04/2024

  We are not able to locate an account with the information that you provided. Please provide either the full BSI loan number, borrower's full social security number, or the full property address on the loan. Thank you!

• Initial Complaint

  12/19/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  BSI raised my monthly payment without notification. The raised payments were not on my montly statements. I paid amount due each month that was on my statements. They say im a month behind, and repirted it. I lost 120 points on my credit score because BSI failed to put the correct amount on my statements. Supposedly the payment went up starting this past november, but my statement did not shiw it and i was never notified of my payment going up. This is BSI's fault and i want them to reverse my credit. *** never missed a payment with them.

  Business response

  01/09/2024

  Please be advised that the response was mailed directly to the borrower on 01/09/24.

• Initial Complaint

  12/18/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  My mortgage loan company is BSI Financial out of ******, **. They have been refusing my payments, requiring wire money transfers and no credit to account. Saying they have no idea about the wiring of funds. It takes15 days for a money wire to go through only to have them say they are refunding it. 2 months later almost and still nothing! They are now saying that I am $9500+ in the negative and saying I must pay my entire loan off in order to keep my home. I am a disabled person on limited income and this refusal of funds and nonexistent return of funds is not helping matters. Im at a loss and need help!

  Business response

  01/03/2024

  An extension letter was mailed directly to the borrower via regular mail on 01/03/24. We will provide a full response within 15 business days.

*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. ↩