BSI Financial Services


BSI Financial Services

A group to assist with resources and contact numbers for short sales with BSI

Members: 42
Latest Activity: Feb 18, 2017

Contact Info

Customer Service BSI 800-327-7861

Discussion Forum

BSI Financial Is Requiring 1% of Listing Commission to go to "Entra Asset Management"

Started by Barbara Thomas. Last reply by Sean Ryan Feb 22, 2016. 20 Replies

BSI is the 1st <and only> lienholder.  They acquired servicing from Flagstar.  The loan itself was also bought by a new entity, who converted it from FHA to non-FHA.The purchase agreement,…Continue

Tags: Entra, BSI


Started by Barbara Wing Mar 20, 2014. 0 Replies

I am looking for anyone who was vandalized by Safeguard when they were authorized by the bank to change the locks...I want to start a class action lawsuit against Safeguard (and the banks authorizing…Continue

Getting language to release deficiency from BSI is like pulling teeth

Started by Michael Hayley Oct 8, 2013. 0 Replies

Has anyone else had trouble getting BSI to include language to release deficiency on a 1st lien short sale Approval Letter? (This is a Florida property.) The rep tells me they intend to release…Continue


Started by Amanda Pittman Sep 17, 2013. 0 Replies

BSI has the second mortgage for $35,000. 1st mortgage is approved but is only giving $3500.00 to BSI.BSI wants $13,000 !! The seller is broke. Struggling to even feed his family. I finally got the…Continue

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Comment by Charity Heatley on February 6, 2017 at 7:26am

Good morning, I have contacted BSI 3 times a day, always on hold and never get a return call. Most of the time they say I am npt authorized, until I give them the page # of the loss mitigation package (PG #18), then no response. I was able to get through almost 30 days previous and they said it was sent to the state for approval and would be back in 10 days. So it has been 20 days and I cannot get any one to respond. Any suggestions will help.

Comment by Jessica Griffith on January 30, 2014 at 10:22am

I posted back in October 2013, but here is an update.  BSI at one point asked for a holds harmless agreement, they were willing to repair the home to bring the property to better condition to sell higher, even though they weren't the owner of the home.  However, after discovering the property had been broken into, they said nevermind.  I continued to submit several offers, all to no avail.  They wanted 278,000 for the property and the most I could get was 268,000.  It was a fixer to say the least.  However, I finally sent them an article about our market, showing them that sellers were asking too much and buyers weren't willing to pay too much and it was creating a tug of war.  After this article and submitting one last offer at 270,000 they finally agreed to the short sale.  I received approval within 10 days of submitting the offer and we closed finally in December.  The new buyers have rehabbed the home and I am looking forward to working with BSI again.  However, keep in mind, most negotiators and asset managers have this notion that agents suck and they don't work.  So, work hard to prove to your negotiator that you are not one of those, show them that you care and you're on their side.  That is what I did and we finally worked out well as a team.  I just emailed that negotiator today because I have a new BSI short sale and I'm hoping to work with him again.  I would also keep in mind, it's not BSI we're up against, it's the investor.  They are just the middle man.  Be VERY involved in your short sale and you'll get further.  It may not always work, but it's almost impossible to fail if you try.

Comment by Wendy Smith on November 9, 2013 at 10:38am

@Sara - the loan was previously FHA serviced by BoA.  This property has been badly neglected & in need of a lot of repair, I had it listed at just $22k and then the seller moved out of state blah blah blah.  Several months later I received a call from BSI - the guy is aware of the listed price, aware of the condition, etc etc.  When I said I wasn't interested in working the listing anymore he says BSI will pay a flat $1900 commission; I just needed to get a cash offer.  OK. So I do exactly that.  Then BSI guy says oh, we need pictures of disrepair, estimates to fix etc etc.  So I submit pictures & ballpark estimates for majors like roof and electrical, trash out and eviction of 2 squatters. 

BSI rejects the offer countering at a staggering $45,000 (45k wouldn't happen even if all fixed up)

So we stalemate.  My listing agreement is with the seller, not BSI and in any event, it does not include getting quotes from contractors to do repair work - this is not a REO.  BSI has absolutely no regard for the time & work it takes a contractor to visit the site & work up a quote.  Andy at BSI stated that Realtors should expect to work 7 days a week as that is their job.  Sorry, Andy, I don't work 7 days a week...I have a life.  So, my one and only encounter with BSI has been bad.  I don't appreciate being lied to on any level.

Comment by Jessica Griffith on October 16, 2013 at 6:19pm

BSI recently declined a cash investor offer only 10k less than their BPO value, stating they preferred an owner occupied buyer.  I recently submitted an owner occupied buyer for 5k less than the cash investor offer and I've not yet heard back. They did approach me, asking if they could do repairs to bring in a higher offer, however once I asked if we could do repairs to procure a higher offer they said no because 'the property was vandalized under the agents care'.  Seriously? As if I have control over a vacant house being broken into.  If the offer I have does not get countered or accepted, I will file a complaint with the OCC and reach out to my congressman because there is no reason why the bank should not help a homeowner avoid foreclosure when a viable offer is being brought to the table.  Overall, experience with the negotiation has been THE BEST EVER!  Experience with the investor behind BSI, not encouraging thus far.

Comment by Sara Mehrpouyan Los Angeles CDPE on October 16, 2013 at 5:51pm

Out of curiousity @Wendy Smith- do you know which lender had the loan before it went over to BSI? 

Comment by Wendy Smith on October 16, 2013 at 5:46pm
My first with BSI and its not going well at all. BSI rejected good offer stating maybe they will repair and resell. Huh? Guess they better own it before repair and resell aka Fix n flip. How do they figure on pulling permits?
Comment by Jessica Griffith on October 2, 2013 at 12:58pm

Troy Valentine

Sr. Loss Mitigation Specialist


1425 Greenway Drive Suite 400

Irving, TX 75038

866-581-4514 Ext. 0044

972-518-1385 Fax

[email protected]

Comment by Jessica Griffith on October 2, 2013 at 12:57pm

I have a property listed, it is not in the best condition and would only attract someone with cash to buy it.  Most buyers with cash however are investors.  But, BSI has declined a viable offer because it is not an owner occupied buyer.  How can a servicer dictate who buys a property?  I can see they would be able to dictate price, but how can they dictate who the buyer is.

Comment by Jessica Griffith on September 3, 2013 at 3:21pm

We have an FHA short sale with BSI and only have fax to work with thus far.  Has anyone else had any luck with them?

Comment by Jennifer Luna SFR on October 28, 2011 at 8:59am

Just listed my first short sale with BSI. Good thing they use Equator. :)



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