BSI Starts Subservicing.(BSI Financial Services)

IRVING, TX -- Mortgage subservicing is traditionally a business dominated by a handful of well-established firms, but now one off-shoring entrepreneur sees an opportunity to make inroads into the market with a new entrant.

BSI Financial Services, a mortgage originator and approved servicer, has decided to refocus its business on mortgage outsourcing and subservicing under the leadership of new owner Gagan Sharma, who purchased the firm from an Indiana community bank. Mr. Sharma, who previously was a founder of an outsource provider based in India, believes that a spectrum of mortgage services lend themselves to his vision of outsourcing, which will rely on both domestic and international support sites.

As a service provider, BSI plans to focus on subservicing, due diligence, quality control and back-office outsourcing services to the U.S. residential mortgage industry.

The company will provide domestic operations based in Pennsylvania coupled with offshore operations in India. BSI has already signed up clients, including Investor Savings Bank, Atlantic Pacific Mortgage and Allied Mortgage Group.

Mr. Sharma, a veteran of the global outsourcing business, has purchased BSI and taken the position of President and CEO. Prior to buying BSI, Mr. Sharma was founder, CEO and vice president of sales at a global business process outsourcing company.

Mr. Sharma told MSN he's excited to be leading the company in a new direction. He said BSI combines the best of a domestic outsourcing operation with a global ...