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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Initial Complaint
10/17/2024
Complaint Type:
Billing Issues
Status:
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.
10/16-10/17/2024 A payment was processed twice due to an error with the websites information system Company still wants to charge a late fee and a nsf of $50 each. Confirmation email was not delivered until 10/17 of both payments, making the process confusing and frustrating . **************** was not helpful. Rude representative was yelling and talking over me and I was hung up on twice.
Business response
11/01/2024
Hello, please see the attached. A more detailed response was mailed directly today.
Initial Complaint
09/30/2024
Complaint Type:
Product Issues
Status:
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.
This company refuses to provide reasonable assistance for those who have been affected by disasters. 3 hurricanes have hit my area and they refuse to provide a reasonable solution. They offer a 3 month forbearance however after the 3 months, all of that money is due at once. How does that help anyone?
Business response
10/14/2024
Hello, please see the attached. A more detailed response has been mailed to **** *****.
Initial Complaint
09/09/2024
Complaint Type:
Order Issues
Status:
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.
House payment ****** we paid ****** then we had to pay ***** plus ****** Had been talking payment out of my account.then went to change insurance to traveler for 24 hours we closed insurance went back to old insurance .then they said we paid for insurance we didnt have have ***** dollars extra for escrow came to find out there was no ***** extra money taken out .every person you talk to they lairs tell one thing and tell you different things.we cancel travelers on 09/30/2023.we never seen escrow check
Business response
10/10/2024
Hello, please see the attached. A more detailed response was mailed directly to Mr. Wolf.
Initial Complaint
08/26/2024
Complaint Type:
Service or Repair Issues
Status:
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.
*** has been negligent and hard to communicate with. I attempted to paste my CFPB complaint here but it was too many characters. *** has consistently and repeatedly given me the runaround on what was going on with my modifications, and given me incorrect information such as you cannot pay on your account. Talking to anyone who knows anything is nearly impossible unless you have the time to spend 30 minutes on hold multiple times a day just to be told I'm not sure, I can't understand these notes and what's in your account, let me transfer you to your "Single Point of Contact" BSI always complains about being understaffed and having improper training. It's not my problem, but I'm the one who has to put up with it. CFPB complaint 240826-15764506, It may not be up yet but It goes into more detail
Business response
09/09/2024
Hello, please see the attached. We are still researching this matter and will be providing a more detailed response within the next 15 business days.
Customer response
09/09/2024
I am rejecting this response because: The response is not complete. This is simply a notification stating the business has received and will respond to the complaint.
Business response
09/30/2024
Hello, please see the attached. A more detailed response was mailed to Mr. ****** today.
Initial Complaint
08/22/2024
Complaint Type:
Billing Issues
Status:
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.
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
09/05/2024
See attached extension letter.
Business response
09/09/2024
Hello, please see the attached. A more detailed response was mailed directly to Paula Wolf.
Customer response
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
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
10/10/2024
Hello, please see the attached. A more detailed response was mailed directly to Ms. Wolf.
Initial Complaint
08/18/2024
Complaint Type:
Service or Repair Issues
Status:
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.
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
09/20/2024
Hello, please see the attached. A more detailed response will be mailed directly to Ms. ***** *****.
Initial Complaint
08/12/2024
Complaint Type:
Billing Issues
Status:
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.
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
08/27/2024
Hello, please see the attached. We will be sending a more detailed response by mail.
Initial Complaint
08/09/2024
Complaint Type:
Billing Issues
Status:
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.
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
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
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
08/08/2024
Complaint Type:
Billing Issues
Status:
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.
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
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
08/05/2024
Complaint Type:
Service or Repair Issues
Status:
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.
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
08/19/2024
Hello, please see the attached. A more detailed response will be mailed directly to ******************** today.
Customer response
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
08/27/2024
Hello, please see the attached. We will be sending a more detailed response by mail.

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