Business Profile

Loan Servicing

BSI Financial Services

Complaints

This profile includes complaints for BSI Financial Services's headquarters and its corporate-owned locations. To view all corporate locations, see

Customer Complaints Summary

257 total complaints in the last 3 years.
63 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. 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.

Initial Complaint
Date:08/22/2024
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
Bsi::: They have been splitting my house payment since March not tell me anything! Had a problem with insurance and has changed for one day and had to stay with **********! Other insurance was travelers! Now *** is saying In behind on my payment for August! Said they didnt get it! They lied! I went to bank it was received by them!! Now they say Ive been behind since March! *** had them take payment every month out of my account! They cant be trusted! This is third time! What can be done!
Business Response
Date: 09/05/2024
See attached extension letter.
Business Response
Date: 09/09/2024
Hello, please see the attached. A more detailed response was mailed directly to Paula Wolf.
Customer Answer
Date: 09/19/2024
I am rejecting this response because: Poor company! Have had issues with since we had them! August say we didn’t make a payment! I have proof I made one. From bank and statement! They are unable to do anything right! Charging more for payment when we have cheaper insurance! Had travelers for one day and canceled in August 2023 one day ! Went back to State Farm ! Better company ! They have been taking money out of our payment since March this year and not saying a word! Illegal! They have no right! Poor company
Business Response
Date: 10/04/2024
Hello, please see the attached. We are still researching this matter and will provide a more detailed response within 15 business days.
Business Response
Date: 10/10/2024
Hello, please see the attached. A more detailed response was mailed directly to Ms. Wolf.
Initial Complaint
Date:08/18/2024
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
March of 2024 a request was made to *** to recast my mortgage. I wanted to put more money down on the principal of the loan (to reach 20% down payment to remove PMI) and have the monthly payments adjusted. I was told by *** to make that payment online and send an email making the request and that I would receive the recast within 90 days. I have called several times and sent several emails asking for an update with no updates given and being redirected to email with no response received since make the deposit of money. Payments made for requested recast:February 29, 2024 - $50,000 March 1, 2024 - $13,225 WE ALSO PAID THE RECAST APPLICATION FEE WHICH WAS OVER $200 We would now like our money returned since the company has not completed their promise to perform the recast on the mortgage. 170 days have now passed, which is almost twice amount of time we were told this process would take. Still with no response, adjustments or alterations from the company.This is causing a financial hardship on my family.
Business Response
Date: 09/20/2024
Hello, please see the attached. A more detailed response will be mailed directly to Ms. ***** *****.
Initial Complaint
Date:08/12/2024
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
In January 2023, my husband was laid off from his job. By December 2023, my husband was still unemployed, we had a couple unexpected and unfortunate life events happen, and most of our savings was depleted. So, in January 2024, I submitted the paperwork for a financial hardship with BSI. It took 4.5 months, 28 phone calls, 25 emails, and countless hours of stress to ultimately learn that the paperwork they kept having us resubmit wasn't even necessary for a forbearance. So, although we submitted our form and lots of paperwork by January 10, 2024, we didn't receive the forbearance until May 4, 2024. Also, during this time, we were assured that because we were in process, no negative issues would be reported to the credit bureaus. We just found out that they have listed our March 2024 payment as 60 days late with the credit bureau even though they can see that I tried to pay it but there was an error between BSI and BOA. BSI has been an awful experience throughout out four years with them. Their customer service is horrid. They say they will call you back but do not. It is extremely difficult to speak to the same person twice. The call wait times are very long, and getting an email response is a c*** shoot.I pray often that our loan will be bought in a lump purchase. BSI really doesnt care about their customers. I am sad, frustrated, and at a loss. We have jumped through so many hoops over the course of that four months. We felt as if BSI was just hoping we would get tired and give up. This isnt how a mortgage company should run a business. No one should be put through this much stress. Being unemployed and financially strained is stressful enough to not add this on top of it. I want the negative note from BSI taken off our credit report but ultimately, I want to make people aware of the poor and pathetic business practices of BSI Financial. Thank you for your time and attention. ***********************
Business Response
Date: 08/27/2024
Hello, please see the attached. We will be sending a more detailed response by mail.
Initial Complaint
Date:08/09/2024
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
In November of 2023, I sent BSI my morgage payment for $1,648.43 via Bank of America. I typed an 8 into the payment by mistake as the amount should have read $1,649.43. BSI did not cash the check as it was $1.00 short. They did not notify me either. I would have wired them a dollar or they could have added it to the next bill. Instead, they reported to the credit agency that I was 30 days late. It impacted my credit score and shows as a late payment on my score. I called BSI and they said there is nothing they can do ? I said that that they could send me a letter stating I was only $1.00 short and the situation was resolved. They refused and my credit score was impacted. Having a late payment impacts my ability to secure a HELOC.
Business Response
Date: 08/16/2024
The response was mailed directly to the borrower on 08/16/24. Please allow time for the response to arrive.
Business Response
Date: 08/19/2024
The response letter was mailed directly to the borrower on 08/16/24. Please allow time for the response to arrive.
Initial Complaint
Date:08/08/2024
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
To Whom it may concern,This letter is to inform you that I recently received a copy of my credit report that your company publishes and after reviewing it I found a number of items on the report that are inaccurate. The accounts in question are listed below. Please send me copies of the documents that you have in your files as of this date that you used to verify the accuracy of the accounts listed below.I.C. SYSTEM, *** ACCOUNT NUMBER: ********* BAL. $240,499.00 Under the Fair Credit Reporting Act, 15 U.S.C. 1681g I have the right to demand that you disclose to me all of the documents that you have recorded and retained in your file at the time of this request concerning the accounts that you are reporting in my credit report. Please dont respond to my request by saying that these accounts have been verified. Send me copies of the documents that you have in your files that were used to verify them. If you do not have any documentation in your files to verify the accuracy of these disputed accounts then please delete them immediately as required under Section 611(a)(5)(A)(i). By publishing these inaccurate and unverified items on my credit report and distributing them to 3rd parties you are damaging my reputation and credit worthiness.
Business Response
Date: 08/23/2024
Our response letter was mailed directly to the borrower on 08/22/24. Please allow time for the response to arrive.
Initial Complaint
Date:08/05/2024
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
BSI Financial Services is withholding funds from my insurance claim that is preventing me from paying a contractor to start the rebuild of my residence. BSI Financial received a check from my insurance company for $152,000. $51,000 of the check was for Flood Mitigation work and $101,000 was for the rebuild of my residence. Those scopes of work using different contractors and for the construction work you have to pay a certain amount (1/3) prior to them starting. I called BSI numerous times and they agreed, understood, and indicated they would send two checks one for mitigation and one for the initial rebuild. To date they have only send one check $50,000 that was used for the mitigation work. I can't get a contractor to work on my house until I receive at least partial payment for the rebuild. BSI does not respond to emails and every time I call I have to leave a message; furthermore what they tell me on the phone never materializes. BSI is in violation of Texas State Law and is preventing me from being able to move back in my house.BSI should release funds at a minimum (1/3) of the $100,000 so that I can start construction. Additionally the processing times lines they have associated with loss draft handling should be greatly reduced.
Business Response
Date: 08/19/2024
Hello, please see the attached. A more detailed response will be mailed directly to ******************** today.
Customer Answer
Date: 08/20/2024
I am rejecting this response because: I received a 2nd check however BSI is still withholding funds that are part of my insurance claim. BSI has also did not make an offer to pay me interest on the money they wrongly withheld nor offered to cover compensatory damages. (Temp Housing, Utilities, etc)
Business Response
Date: 08/27/2024
Hello, please see the attached. We will be sending a more detailed response by mail.
Initial Complaint
Date:08/03/2024
Type:Order Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
During Covid, we deferred our loan because we were told that it would be deferred and our payments would be tacked on to the end of the loan. We were lied to and had to pay $30,000 after the deferment (it was really a forebearance). We were told by an employee at BSI that they made a mistake and should never have told us we could get a deferment because we had a VA loan. In addition to that, we were never informed that a late charge would occur if we paid after the 15th of the month. We were told it was the last day of the month. I have called and emailed several times, asking for an explanation of over $1,000 that has been tacked on. I was most recently (3 weeks ago) told that a supervisor would call me right away, and that never happened. We have always paid our mortgage on time, with the exception of one month, in 6 years. This is, by far, the worst, most unprofessional and most incompetent company we have ever dealt with. Our original loan was sold to BSI, so we did not have a choice.
Business Response
Date: 08/16/2024
See attached extension letter.
Customer Answer
Date: 08/16/2024
BSI has stated they need more time to respond, so I will be waiting.
Customer Answer
Date: 08/16/2024
I am rejecting this response because: There is no resolution, so I will wait for their response
Business Response
Date: 08/19/2024
A response will be provided by 09/09/24
Business Response
Date: 09/09/2024
The response was mailed directly to the borrower on 09/09/24. Please allow time for the response to arrive.
Customer Answer
Date: 09/10/2024
I was supposed to hear back from *** by 9/9, which was yesterday. I have heard nothing.
Business Response
Date: 09/12/2024
The response was mailed to you directly on 09/09/24. Please allow time for the response to arrive. Thank you!
Customer Answer
Date: 09/12/2024
I am rejecting this response because: I haven't heard anything yet. If *** sent something out on 9/9/24, are they not also obligated to report it to BBB so it can be posted online with my complaint?
Customer Answer
Date: 10/23/2024
This complaint has not been resolved. A representative was going to escalate, and I am waiting to hear back. As of now, this is not resolved at all.
Customer Answer
Date: 10/23/2024
This complaint has not been resolved. A representative was going to escalate, and I am waiting to hear back. As of now, this is not resolved at all.
Business Response
Date: 10/28/2024
The final response was mailed directly to the borrower on 09/09/24. This is resolved.
Initial Complaint
Date:07/29/2024
Type:Order Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
We bought a home in March 2024 with a VA loan. My wife is 100% disabled through the **, so in the state of ************** we are exempt from property taxes. Our loan was handled by Prime Lending here in **************. A month after closing, our loan was bought by BSI. We turned in the property tax exemption approval paperwork to then and they said they had to request a loan analysis to have it updated, and it would take 30 days to complete. We submitted these forms 2x, once at the end of June, and once at the beginning of July after they claimed they didn't receive the form. Today (July 29th, 2024) we called to check on the status and now they're claiming they can't do a escrow analysis until our loan has been open for at least a year. So we're expected to pay property taxes still, for a year, and trust these people who have a horrible reputation to give us our overage money back. This is unacceptable, and I find it to be a bogus claim as Prime Lending, the company we went through originally, ran our analysis by June before our loan was transferred to BSI (not at our request).
Business Response
Date: 08/07/2024
Please be advised that the response was mailed directly to the borrower on 8/7/24. Please allow time for the response to arrive.
Initial Complaint
Date:07/22/2024
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
BSI executed final documents on a loan modification in December 2023. They have failed to update the status of my account. My account shows 447 days past due, though it is not. On too many occasions to count, I've had representatives promise me that my account would be updated "in a few days". The *********************** has reached out. No change. They received a letter from my attorney. No change. They have "escalated" my complaint. No change. The status of my account prevents me from getting federal student loans for my son (he almost had to come home) and is now preventing me from getting a loan for an air conditioning for my home. I live in *****.
Business Response
Date: 08/05/2024
Hello, an extension letter was mailed directly to the borrower on 08/02/24. BSI requires additional time to complete the research and response. A full response will be mailed by 08/23/24 to the borrower.
Business Response
Date: 08/08/2024
Please be advised that the response was mailed directly to the borrower on 08/08/24. Please allow time for the response to arrive.
Initial Complaint
Date:07/16/2024
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
In *** 2024 our payment hadnt been auto drafted from our bank account. I called and spoke to a representative. He stated our account was up to date. Next they said the payment for *** was never received, mind you we had already spoken to the company about it being up to date. June payment was paid. Our bank account processed the payment. We then called due to a letter stating our payment was denied on our banks side. We then sent the statements from our bank to show all payment were properly credited. As of today 7/16/2024 the statement is still saying we are in default of payment. Now we are being double charged when it is an error on their side, not ours. **************** is rude. Legal action will be taken against the company. We have all documentation.
Business Response
Date: 07/30/2024
Our response letter was mailed directly to the borrower on 07/26/24. Please allow time for the response to arrive.

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