Insights For BSI Financial Employees Volume 3 Number 1 Spring 2017 New Portal Puts Borrowers in the Driver s Seat The Information Technology team is quickly earning a reputation for rapidly modernizing the company s technology infrastructure a competency that is core to the company s new tagline Always innovating However that doesn t mean that the challenge of reinventing how we apply technology is getting easier rather the IT team s confidence soars with each new challenge it conquers even as the performance bar continues to rise BSI Financial Earns Better Business Bureau Accreditation BSI Financial reached an important milestone in 2016 by receiving Better Business Bureau accreditation through the Dallas chapter The accreditation process according to Jill Sheely involved a detailed examination of BSI Financial s business practices and problem resolution processes As a part of the accreditation process BSI Financial has agreed to abide by the Better Business Bureau s eight standards 1 Build Trust 2 Advertise Honestly 3 Tell the Truth 4 Be Transparent 5 Honor Promises 6 Be Responsive 7 Safeguard Privacy 8 Embody Integrity These standards align well our own principles said Gagan Sharma Abiding by our own core values and the Better Business Bureau standards will enable us to grow our business on a foundation of trust he added BSI Financial Services Lauded for Growth For the third consecutive year BSI Financial Services was recognized by the Caruth Institute for Entrepreneurship at Southern Methodist University s Cox School of Business The school annually recognizes businesses for their growth ingenuity and contribution to the Dallas area economy BSI Financial Service was ranked 16 on the list of 100 companies Take the recent launch of the company s home developed borrower portal which offers features that are unique to BSI Financial For example borrowers who face a hardship can fill out a loss mitigation application online and submit supporting documents electronically filing a more complete application faster and in less time Once filed they can check the application s status in real time The loss mitigation application feature combined with our new e presentment capability places BSI Financial in a technology leadership position in our industry said Gagan Sharma BSI Financial President E presentment is the practice of delivering documents electronically that would otherwise be produced on paper providing borrowers instant access to important records while saving printing and postage I would have to say that this project was the biggest challenge I ve encountered in my life said Shaun Sitterley When we started planning the project in the middle of December of 2015 I knew there was a lot of work to be done but I had no idea just how much I remember thinking on several occasions that that there was no way we were going to get everything completed It really came down to the wire but we managed to release a successful application he added The loss mitigation application feature combined with our new e presentment capability places BSI Financial in a technology leadership position in our industry Gagan Sharma So why replace what some consider to be an element of an industry standard loan servicing platform One of the major factors was control At some point you want to stop renting and you want to own said Mike Kittyle Chief Technology Officer As our company grows we recognize that we need to control more of what our clients see We need to own our own destiny when it comes to technology Inventing technology or inventing ways to use technology is a Please see New Portal page 3
Insights  For BSI Financial Employees Volume 3 Number 1   Spring 2017  New Portal Puts Borrowers in the Driver   s Seat Th...
Insights For BSI Financial Employees Re inventing Ourselves Through Technology In time we will be able to spot and solve issues before they become problems Our core value Deliver on expectations your word is your bond supports this positioning People depend on the promises we make We want to make commitments we know we can keep at the same time these commitments should require us to stretch to deliver on them or else we may fall short of our clients expectations Clients depend on us When we deliver on our promises we strengthen their confidence in us and their control over their investments When we fail to deliver the consequences can range from a loss of trust to noncompliance Delivering on promises should be predictable and reliable Related to this is our core value Do the right thing We want to do the right thing for our clients our colleagues our company and our shareholders Our actions directly affect people s investments and homes and can have a profound financial impact Doing the right thing means we should consider what we would want if we were on the other side of the table Be reasonable and be fair While we sometimes make mistakes we must resolve them quickly By being transparent when we acknowledge and fix our mistakes clients colleagues and shareholders will trust us more Our clients also expect us to be financially prudent especially since we are responsible for their money The core value Be frugal reminds us that we should spend the company s money as conservatively as we do our own But our time and effort is at least as important if not more Time is a finite resource so we should always look for ways to complete our assignments faster than we have in the past By focusing on completing tasks using fewer steps we can prepare ourselves for the faster decisions we need to make tomorrow We are as hungry to succeed as anyone else but success must be achieved with grace and humility We will often win because we are good at what we do When we Win with humility we make a positive brand statement by behaving properly Humbly sharing success with your associates is the highest form of leadership and helps build a strong team by Gagan Sharma President and CEO Recently the executive team went through an exercise where we modernized our brand message As you can imagine it was a lively discussion In the end though we came to agree on several statements that reflect who we are and where we are going as a company Our Vision We invent ways to use technology to enhance value Our modern vision statement emphasizes the critical role that technology plays in our company As individual contributors we are either inventing technology or inventing how to better use it As inventors we cannot be complacent we must constantly innovate and look for ways to improve a process a task or an outcome And technology is core to this effort The phrase to enhance value reminds us that what we invent must produce an improvement in the value of our clients portfolios and in our own business Our core value Always improve by solving problems supports this vision Always improve means that we want a constant and consistent effort to get better at what we do By focusing on solving problems we assert that we have the creativity to solve any problem More complex problems may require us to deconstruct the problem into a series of related challenges then design solutions that contribute to solving the overall problem This is called a problem solving approach to solving problems Our Positioning Creating control through technology and customization Our new positioning statement reflects the reality that clients prefer services tailored to the way they do business To enable this we use technology to create flexibility allowing us to adapt our services to meet clients requirements By doing this we offer our clients more control over their investments Technology also gives us the ability to identify and solve problems in our own processes much faster Not long ago it took us time and manual effort to identify and solve problems that may have occurred in the past Today using the analytics and exception reporting processes in Asset360 we are identifying and solving problems that may have occurred in the last 24 48 hours Our Tag Line Always innovating A common theme that runs through our brand message and our core values is persistence Achieving our goals while satisfying our clients and remaining true to our core values requires constant energy and effort Accepting the status quo fosters mediocrity We are better than that and we owe it to each other to be the best that we can be 2
Insights  For BSI Financial Employees  Re-inventing Ourselves Through Technology  In time we will be able to spot and solv...
Insights For BSI Financial Employees New Portal continued from page 1 part of our culture affirmed Gagan To excel we must own the design Efficiency is usually a principal benefit of a technology investment and in the case of the new borrower portal efficiency is complemented by visibility choice and control By placing more information at the fingertips of borrowers the load on BSI Financial to provide telephone support and document copies is greatly reduced At the same time borrowers enjoy the convenience and sense of empowerment that comes with a self serve application In the future borrowers will be able to apply for a new loan as part of a seamless process They will also have the option to receive email and text notifications when new documents are viewable online A new payment process is also on the horizon allowing borrowers to complete a payment in three easy steps These tools will allow BSI Financial to place an increasingly valuable role in borrowers lives The development and implementation of the new portal was a product of a team effort a key success criteria for an ambitious undertaking completed under a tight deadline Team members attribute the project s success to having focus while addressing every aspect of the project coming out of the gate Shaun added that the project was a huge learning experience for everyone A digital transformation for the borrower Borrowers can now look at historical billing statements request documentation and look at Automated Clearing House history states Mike But the portal s mission doesn t stop there Mike and the rest of the team have an ambitious vision for its future Every day I was faced with new challenges and I am thankful to have had Michael Kittyle there leading and pushing me every step of the way said Shaun Since the launch the IT team has been focused on enhancing the site to make it more user friendly We want to place everything at the borrowers fingertips explained Mike Whatever the borrower needs we are going to make it available it in the portal This means the portal will become much more than a window into a servicing platform it will also expand into a sales and relationships platform he explained Editor s Note On Friday December 23 2016 BSI Financial announced to servicing clients that it had launched an E Presentment capability that provides borrowers electronic access to billing statements and notices as well as historical documents Effective this date borrowers can elect to go paperless by viewing documents online Information Technology Delivers in 2016 It was a busy year for the Information Technology team as they launched and completed a number of projects 41 in all to improve existing systems and platforms while introducing new capabilities The majority of enhancements to technology and business processes focused on improving the borrower experience Enhancements made to benefit investor clients focused on expanded data and reporting capability Technology for borrowers Modernized borrower portal with presentment capability Online filing of loss mitigation application and real time updates and status Request documents through the portal Increased call center capacity by 37 adding call escalation for onecall problem resolution Added caller authentication using the CRM and enabled screen pop integration Technology for clients Real time production reporting Borrower website customization Escrow reporting capability Enhanced Asset360 with 900 additional fields of Investor data Historical reporting Technology for BSI operations Borrower correspondence letters Lockbox integration with servicing platform Automatic conversion of payments to electronic ACH 3
Insights  For BSI Financial Employees  New Portal  continued from page 1  part of our culture,    affirmed Gagan.    To ex...
Insights For BSI Financial Employees New Talent Adds Depth and Experience to Management Team Two recent hires energize initiatives that are important to BSI Financial s success and reflect the company s commitment to continued growth Nonny Sanchez Mohit Pathan Nonny Sanchez Assistant Vice President Regulatory Compliance is a 14 year experienced leader in the mortgage industry who succeeds as a change catalyzer between regulation interpretation and business control implementation Nonny leads the Regulatory Compliance team drawing from her experience in compliance quality assurance and loan closing processes Mohit Pathan Senior Vice President Loss Mitigation and Project Management joined BSI Financial with a 21year track record in banking He has held an executive level position in fixed asset operations at Bear Stearns led the international expansion of branch banking for emerging markets for Barclay s Bank and was responsible for loan performance and management of Citibank s national first lien portfolio Prior to BSI Nonny worked in the Default Compliance Program at PennyMac where she supported various organizations in navigating complex compliance rules and regulation She has led Regulatory Federal State Investor Insurer and certain financial initiatives including CFPB SCRA FDCPA HAMP FHA GSE TILA RESPA SOX SOC 1 Native American Housing and ECOA among other risk management and compliance initiatives Mohit has a long standing relationship with Gagan Sharma BSI Financial President who persuaded him to join the firm I have known Gagan since 2002 when he was with iSeva and I was the client at Citi We have been in constant touch and I have been impressed at how he has built such a successful mortgage company over the most challenging times in this industry he explained In one of our meetings Gagan spoke to me about an opportunity that I may be a good fit for and I couldn t have been more excited In addition to her compliance expertise Nonny has acquired extensive experience in default operations vendor management and nationwide originations escrow and REO Nonny obtained her Associates in Pre Law with highest honors and is currently in the senior year of her Bachelor Degree in Public Administration at Florida International University Happy Anniversary Congratulations to the following individuals who are celebrating their service year milestones with BSI Financial Services Five Years Danielle O Neil Courtney Sopher Lorraine Sutton Megan Amacher Kristy Bliss Kenneth Bodamer Jennifer Brady Mark Burch Sarah Caldwell Chrissan Davis Tiffany Gegogeine Timothy Gillis Jessica L Melendez Michelle Wescoat 15 Years Karen Shoup 30 Years Monica Sawatsky 4
Insights  For BSI Financial Employees  New Talent Adds Depth and Experience to Management Team Two recent hires energize i...
Insights For BSI Financial Employees Fun Day 2016 BSI Financial employees let down their hair at this year s event The competition is fierce at the kayak races We couldn t get the wakeboarder being towed by this boat in the photo Hello we must be going Made in the shade We ll bet they re talking shop 5
Insights  For BSI Financial Employees  Fun Day 2016 BSI Financial employees let down their hair at this year   s event.  T...
Insights For BSI Financial Employees Titusville Oil Festival The Titusville Oil Festival celebrates the town s oil heritage and community It s the quintessential small town festival in Northwestern Pennsylvania and BSI Financial is a regular supporter Bring Your Child to Work Day BSI celebrated as a family with families spending the day at BSI Financial National Hat Day Employees took the opportunity to showcase their preferences in headgear during National Hat Day Marc Person Erin Murphy and Rebecca Magee Mirrie Mitchell 6 Vanessa Chavez
Insights  For BSI Financial Employees  Titusville Oil Festival The Titusville Oil Festival celebrates the town s oil herit...