BSI Financial Partners with Kasasa to Power New Loan Product for Credit Unions and Community Banks

Strategic partnership leverages loan-status transparency for lenders and debt-status transparency for borrowers.

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Aug 24, 2020, 09:00 ET

AUSTIN, Texas, Aug. 24, 2020 /PRNewswire/ -- Kasasa^®, an award-winning financial technology and marketing provider, and BSI Financial Services, a technology-centric financial services company, have partnered to increase servicing speed and visibility of a revolutionary mortgage loan product that community banks and credit unions can market to their customers.

BSI Financial will provide loan servicing for community banks and credit unions offering the Kasasa Mortgage™, a one-of-a-kind product that allows financial institutions to compete with larger banks on more than just rates, while creating value for borrowers and providing an innovative lending experience. It features a unique concept called a "Take-Back™," which provides borrowers the flexibility to accelerate loan payments to reduce debt but take back all or part of the pre-paid amount if they need it.

"We look forward to serving the needs of community banks and credit unions," said Allen Price, Senior Vice President, Business Development for BSI Financial. "Our partnership with Kasasa enables us to advance a strategic initiative to leverage our capabilities, expanding service offerings to more lending segments."

BSI Financial services loans using BSI ASSET360, a proprietary servicing platform that employs advanced analytics and proprietary technology to provide lenders unparalleled visibility into loan status and condition. It also enables BSI Financial to monitor and improve loan documentation through exception-based processing that relies upon daily reviews of 10,000 data elements for every loan in its servicing portfolio.

"Through Kasasa's partnership with BSI Financial, we are enabling a greater number of local financial institutions to help their borrowers better understand their mortgage loan and get out of debt quicker," said Chris Cohen, EVP, Product Management at Kasasa. "By offering the most consumer-friendly loan available today, community banks and credit unions can achieve higher yields without the additional risk and maintain their fair share of the market."

About BSI Financial Services
BSI Financial Services, based in Irving, Texas, offers mortgage servicing, subservicing, special servicing, and MSR acquisition and due diligence services. Through its wholly owned subsidiary, Entra Solutions, BSI Financial delivers title and escrow, collateral valuation and asset management services. Using its proprietary digital technology, such as BSI ASSET360, the company provides an advanced form of RegTech and customized solutions to create greater efficiencies for its clients. As a rated servicer by Fitch and S&P, BSI Financial is approved by Fannie Mae, Freddie Mac, FHA, VA, the Federal Home Loan Banks and several private investors, and is an approved Ginnie Mae issuer. BSI Financial also has offices in Titusville, Pennsylvania, and Irvine, California. For more information, visit www.bsifinancial.com.

About Kasasa
Based in Austin, Texas with 500 employees, Kasasa® is a financial technology and marketing provider committed to driving results for over 900 community financial institutions by attracting, engaging, and retaining consumers. Kasasa does this through branded retail products, world class marketing, and expert consulting. For more information, please visit www.kasasa.com, or visit them on Twitter or LinkedIn.

Corporate Contact
Allen Price
SVP, Business Development
BSI Financial Services
972.457.3995
[email protected]

Press Contact:
Mike Murray
Strategic Vantage Marketing & Public Relations
240.498.0863
[email protected]

SOURCE BSI Financial Services