Business Profile
Loan Servicing
BSI Financial ServicesHeadquarters
This business is NOT BBB Accredited.
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Complaints
Current Alerts For This Business
Pattern of Complaint:
BBB files indicate that this business has a pattern of complaints concerning:
***Billing & Collection Issues (allegations of incorrect billing amounts, unexpected charges, and difficulties having payments correctly applied to accounts)
***Customer Service and Communication Issues (allegations of poor customer service, long wait times, and lack of follow-up on issues)
***Problems with Escrow and Insurance Handling (allegations of late payments leading to policy cancellations and increased premiums)
On October 25, 2024, BBB submitted a written request to the company encouraging them to address the pattern of complaints. As of January 21, 2025, BBB has had no formal written response from the business.
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Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
01/07/2025
- Complaint Type:
- Billing Issues
- Status:
- Answered
THIS IS MORTGAGE PAYMENT OF OCTOBER 2024 WHICH WAS $3471 TAKEN FROM MY BANK ACCOUNT BUT ITS NOT CREDITED TO THE NEW LENDER RUSHMORE FINANCING WHILE THEY SOLD MY LOAN TO RUSHMORE FINANCING SO, I HAVE CALLED THEM MORE THEN ***************************************************************************************** I HAVE PROVIDED THEM THE BANK STATEMENTS AS WELLBusiness response
01/09/2025
The response was mailed directly to the borrower via regular mail, today 01/09/25, please allow time for the response to arrive.Initial Complaint
12/24/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I bought a house and my loan was set up through BSI financial. Unfortunately I lost my job and was unable to find another well paying job in the area. I moved out of state to a new job while my family stayed in the home for 1-2 months. During this time I followed all of the necessary procedures to complete a deed in lieu, to make the transition of giving the house back to the bank. We could not afford two houses and although this was on the market, I was not receiving offers to cover the loan. *** told me it would take 3 months to complete. Ok fine. 3 months passed and I gave them a call. They stated that they out it in incorrectly in their system as a loan modification. And now I need to wait another 3 months. Now I called every month, and after the 3rd month in a row, they tell me they fired my loan mitigation specialist and nobody did anything with ***** now we start again. I called every week after that point for months and either never got a call back, or was told some junk of how they have to have another application. Its been nearly a year that they just keep tacking on interest and fees and they still refuse to answer, or they hang up on me if I answer their calls.This is the worst bank I have ever dealt with and I am ashamed that the VA even works with them. Its been nearly a year, for something that should have taken 3 months. So now they have just beat me down and I am too tired to keep doing this with them.Business response
01/07/2025
Hello, please see the attached. A more detailed response was mailed to Mr. ***** today.Initial Complaint
12/16/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
Over payment *** did not send me no information that there was no house insurance shown in their record. They sent a mail to my mailbox I work overseas. I told him several times they need to notify me by email. The last payment I made was more than my original payment by $1100 more They have a notification box in their website. They didnt even notice me through their own website. They will not call an overseas number and inform anybody whats going on they told me they give them proof of their insurance and theyll refund my money with a check to be mailed to my mailbox Which I will not see for a year in it. Checks only good for 90 days. She said we do not know what were gonna do with if we do not cash the check BSI website is not very friendly and BSI do not use any kind of other way to contact your customers. The insurance they bought was four times the cost what I paid for the insurance through a private company this company is gouging people. I asked him how they figured got that price for the insurance. They said this is our in-house insurance. I said you did not look elsewhere for the insurance. They say no they dont. This is their in-house insurance and this what it costBusiness response
12/30/2024
Hello, please see the attached. A more detailed response was mailed and emailed directly to Major *****.Initial Complaint
12/16/2024
- Complaint Type:
- Order Issues
- Status:
- Answered
BSI financial has a lien on my property. This lien was obtained by BSI financial from a different bank. The lien was dismissed in a Bankruptcy discharge with instruction to extinguish the lien. My attorneys and I have provided all the necessary documentation to show that is was dismissed and should be satisfied. They are refusing to do so and shifting the blame onto the previous bank. This has been going on for 2 months with no help causing me problems with doing anything with my property.Business response
12/20/2024
Hello, please see the attached. A more detailed response was mailed directly to Mr. **** today.Initial Complaint
12/10/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
On 12/3/2024, I contacted ************ about my online mortgage statement dated 12/2/2024, which showed a monthly payment of $2,869.31. I had not received the escrow analysis by mail, email, or online. I spoke with a representative named Yoranne, who confirmed an escrow shortage of $1,386.27 based on an escrow analysis conducted on 11/27/2024. She assured me that the escrow analysis would be mailed, and I later received it.During the call, I informed Yoranne that I intended to pay $1,386.27 to maintain my previous monthly payment of $2,654.77. This payment was processed from the checking account I provided on 12/5/2024.However, I subsequently received a letter dated 12/5/2024 indicating an escrow shortage of $22.72 and a new monthly payment of $2,750.87. On 12/10/2024, I contacted *** again and spoke with ******, who stated that a new escrow analysis had been performed on 12/5/2024. She also claimed I had made an additional payment of $22.72 on 12/5/2024 but advised me to disregard the letter.I questioned how I could have authorized a second payment of $22.72 when the additional escrow analysis was performed on 12/5/2024 (see letter) and my only prior call to *** after 12/3/2024 was on 12/10/2024.I informed ****** that I did not authorize a second payment of $22.72 on 12/5/2024. My bank records show only the single authorized payment of $1,386.27, with no record of the additional payment. ****** explained that because the escrow shortage was less than $600, the loan could not be amortized to reflect my previous monthly payment of $2,654.77.I believe that the representative, Yoranne, improperly split my payment into two transactions within **** system, which prevented the adjustment of my monthly payment to the desired amount. I never authorized or made a second payment of $22.72, nor did I receive a second escrow analysis.Customer response
12/12/2024
I reviewed my account online using the *** system and noticed a questionable payment reversal entry dated 12/5/2024 for $22.72. This amount corresponds to what ****** claimed I authorized as a payment. However, the entry itself is labeled as a payment reversal (see attached), which raises concerns.
****** mentioned that there was a second analysis resulting in a shortage of $22.72. If thats the case, why would this $22.72 shortage lead to an increase of $96.10 in my monthly mortgage payment? The new monthly payment now stands at $2,750.87, which doesnt seem to align with the stated shortage.Business response
12/23/2024
Hello, please see the attached. A more detailed response was mailed to Nnabugwu Eze today.Initial Complaint
11/26/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
On the website they give you an option to email but, it seems they dont monitor emails. I have sent multiple over the last few months and they have not responded to any. Getting an agent on the phone to talk about mortgage is almost as difficult. Trying to read the transaction history for payments and where the money is going makes no sense. I just want them to do better with communication especially considering they are a company that handles people mortgages.Business response
12/11/2024
Please see attached extension letter. Response will be sent by 01/02/25.Initial Complaint
11/21/2024
- Complaint Type:
- Order Issues
- Status:
- Answered
Filed for a payoff request on the 21at of October, called back on the 1st of November was told it was mailed out on the 31st. Called back on the 9th they said it was mailed out on the 6th. Called back on the 16th and finally got them to send the request through email. The 18th a certified check was sent by mail certified overnight. Confirmation from **** that the check was received and signed for on the 19th. On the 21st received a email from *** payoff notice was for ******* more. Can't payoff a debt if they won't send it then when they send it and receive the payment 3 days later they change the payment amount 2 days after receiving the payment they requested. It took 31 days even though they said they only need 5 business days . Payoff isn't due till December 2nd on both requests.Business response
12/03/2024
Hello, please see the attached. A more detailed response was mailed directly to ***** ******.Initial Complaint
10/30/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
On August 5, 2024, I made a final payment of my principal and was due an escrow balance refund.BSI Financial Services did not refund the escrow balance in a timely manner. I did not receive the refund until October 28, 2024. The check was prepared on October 17, 2024 and was not postmarked until October 23, 2024. I understood that the refund was to be processed and paid within 30 days.When I called and other called on my behalf BSI Financial Services provide inaccurate or misleading dates and information concerning the status of the ********* addition, BSI Financial Services did not prepare and process the "Certificate of Satisfaction and Affidavit of Paid Note" in a timely manner. We asked for escalation of the document and it took 20 days to receive the signed document. BSI Financial Services sent the documents to the Circuit Court my normal mail without a tracking number and with improper funding, so the documents were returned by the Circuit Court.This resulted in our missing three (3) closing dates for the sale of the property. When I called and other called concerning the "Certificate of Satisfaction and Affidavit of Paid Note" on my behalf BSI Financial Services provide inaccurate or misleading dates and information, on many occasions.Business response
11/13/2024
Hello, please see the attached. We are still investigating this matter and will be sending a more detailed response within the next 15 business days.Customer response
11/15/2024
I am rejecting this response because: This response did not provide any information concerning the issue. It only requested more time to investigate the issue.Business response
11/22/2024
Hello, please see the enclosed. A more detailed response was mailed directly to Mr. ******* today.Business response
11/25/2024
Hello, please see the enclosed. A more detailed response was mailed directly to Mr. ******* today.Initial Complaint
10/21/2024
- Complaint Type:
- Order Issues
- Status:
- Answered
*** finance put a lien on my home fraudulently and I have written proof of acknowledgment from the company. I filed for a loan modification in 2022 and it was never established even after all paperwork was submitted. The ** would not approve the funding for the loan modification because the numbers between *** and the VA would never add up. I sold my home in September of this year putting us going under contract in August where I found out the lien was filed and needed to be canceled and contacted them the next day. Fast forward to now and still it is still active because *** will not file the release. I got ahold of ****** **** who is the ** of customer service stating he would take it from here and would have it within a week, after a week went by I heard nothing and he stopped returning correspondences. The company is absolutely a horrific company and dont know why they are still in business. This Lien has cost me 9000 dollars from my sale that I cant back until they show proof of canceling. At this point Ill just file suit and get the law to get my money.Business response
11/04/2024
Hello, an extension letter was mailed directly to the borrower today 11/4/24 via regular mail. Please allow time for the extension letter to arrive. *** is in need of additional time to research and prepare a full response. A full response will by mailed by 11/26/24. Thank you!Initial Complaint
10/17/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
*** requested to have my escrow payments removed from my monthly P&I mortgage payment. I was denied this request stating that my *** is not below 80%. The purchase price of my house was $375,000. I put $200,000 down and opened a mortgage for $175,000. When calling to ask why my *** was not below 80%, I was told that *** is calculated based on the remaining balance over the original loan amount. Completely incorrect. I then asked if I had ever paid ***, their answer was no. That in and of itself would mean that my LTV is below 80%.I cannot get past their first line of support and am always told that I will be called back after they research the matter. Ive never been called back.Business response
10/31/2024
The response was mailed to the borrower today, 10/31/24 via regular mail. Please allow time for the response to arrive.
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Contact Information
Customer Complaints Summary
299 total complaints in the last 3 years.
72 complaints closed in the last 12 months.
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