BSI Financial Services this week expanded its specialty servicing operations by reaching an agreement with ENTRA Default Solutions to use its system to provide non-judicial foreclosure services.
The focus will be on residential business and small balance commercial loans. ENTRA is an affiliate of BSI.
Gagan Sharma, president and CEO of BSI, said the agreement between the two companies “results in improved quality that can be controlled and monitored with the highest level of transparency—not outsourced.”
Sharma said BSI plans to focus on commercial real estate foreclosure transactions towards the end of this year as part of the company’s overall growth.
“There is an excellent opportunity to carve out a niche in commercial transactions, particularly in California,” Sharma said.
Leading this new foreclosures initiative for BSI is Scott Myers, the former president and CEO of Standard Trust Deed. Myers will be responsible for executive management duties as well as setting up foreclosure operations and marketing commercial transactions.
“Utilizing this solution will eliminate significant delays in referring and monitoring foreclosure activity across a network of providers,” Myers said.
BSI is headquartered in Irving, Texas.
