BSI Financial Services Launches Advanced Loan Quality Control Process Management System

Named BSI CARES, the Web-browser based application enables transparency, efficiency and consistency in loan review processing

Irving, TX, March 4, 2014 - BSI Financial Services, Inc. (“BSI Financial”), a privately-held company specializing in residential mortgage servicing, subservicing, default solutions, loan quality control and business process outsourcing services, today announces the deployment of BSI CARES, an advanced loan quality control order management and process control application.

BSI CARES is a proprietary Web browser-based system designed to improve the efficiency and consistency of loan quality review procedures, from initial loan sample selection to management reporting. BSI CARES helps clients monitor, evaluate and improve the quality of their loan production processes by providing detailed quality control reviews of samples of loans at the pre- and post-funding stage.

"BSI CARES represents an investment in technology that is designed to provide our clients exceptional visibility into our loan quality review procedures while delivering actionable information that they can apply to improve their loan origination processes,“said Gagan Sharma, BSI Financial’s President and CEO. "Using cloud-based technology, BSI CARES allows our Quality Control team to operate more cohesively and efficiently while affording better speed and visibility,” he added.

BSI CARES was developed internally following in-depth interviews with investors and lenders and extensive research into loan quality review processes and reporting best practices. BSI Financial's Quality Control team, some members of which have more than 25 years of loan quality review experience, figured prominently in its design. The system was formulated to deliver actionable reporting on loan quality risk factors, risk severity scores and trend analysis while exceeding the requirements established by FNMA, FHMLC and private investors.

“BSI CARES enables us to streamline the loan review process by identifying, assigning and closely monitoring quality review responsibilities," said Julie Zygutis, BSI Financial’s Senior Vice President of Operations. "In addition, CARES enforces a consistent review methodology using terminology that provides a clear definition of loan exceptions with an unprecedented level of detail, a rating methodology that grades the severity of defects and summary reports that provide enterprise-level evaluations of loan quality," she said.

BSI Financial's clients provide details of loans that are eligible for pre-and post-funding review. BSI CARES returns loan-level detail of the recommended quality control sample to clients for approval. Loans subject to review are then examined for documentation completeness and integrity, and results are entered into BSI CARES.

BSI Financial’s clients receive loan-level exception reports that identify defects and the corresponding severity of each item noted. The clients' area of accountability (AOA) responsible for ensuring the integrity of the origination process and application package is identified for each exception. Special Eligibility Violation Indicators alert clients to quality issues that can affect program qualification.

In addition to a comprehensive reports package that summarizes loan quality measures across all loan types along with items that require specific corrective action, BSI CARES produces trend analysis reports that allow clients the ability to identify and remediate specific loan quality issues and to address the root causes of loan quality issues that surface repeatedly in the review process.

BSI CARES' architecture is specifically designed to allow for adaptations in the loan review process as review and reporting requirements evolve. Future enhancements will allow clients the ability to submit loan review orders online, to track the status of each loan subject to a review process, and to access real-time reporting on loan quality.

The name CARES is an acronym for Client Asset Risk Evaluation System.

About BSI Financial

Led by a seasoned team of financial industry professionals, BSI Financial provides mortgage servicing, subservicing, default solutions, loan quality control, and business process outsourcing services. Leveraging its global delivery model and 20 year performance track record, BSI Financial offers clients customized solutions that improve service quality and responsiveness while providing clients complete transparency. Approved as a servicer by Fannie Mae, Freddie Mac, HUD, VA, the Federal Home Loan Banks and several private investors, BSI Financial’s business operations are located in Titusville, PA, Concord, CA and Irving, TX, where its corporate headquarters is located. For more information, visit