BSI Financial Services has launched a home equity line of credit (HELOC) subservicing solution that leaders say will address inefficiencies in the HELOC servicing market.
“HELOCs aren’t a side business — they’re an important portfolio driver for our clients,” BSI Financial Senior Vice President Allen Price said. “We recognized that traditional servicing approaches weren’t meeting the unique demands of HELOC portfolios, so we’ve developed a comprehensive solution that transforms the experience for both lenders and borrowers.”
BSI Financial’s HELOC subservicing solution features four components:
- Frictionless borrower access: A checkbook-style system allows homeowners to make instant, self-service draws on their HELOCs.
- Risk mitigation at scale: Real-time foreclosure tracking paired with early intervention strategies protect the performance of HELOC portfolios.
- Investor-grade reporting: Data dashboards give lenders information to measure portfolio growth and performance.
- Fintech-powered compliance: BSI Financial’s proprietary Libretto compliance engine ensures adherence to regulations such as RESPA, and state requirements.
Libretto automates daily quality assurance, reducing processing errors and identifies potential issues before they impact customers. BSI ASSET360 provides lenders and investors with real-time visibility into asset status and performance.
“Our clients have been asking for a better way to service their growing HELOC portfolios,” Price added. “With this solution, we’re not just fixing the broken parts of HELOC servicing — we’re reimagining the entire process to deliver more value to investors, lenders and borrowers.”