BFS Leads The Way in Adopting International Best Practices

BFS, the premier special assets management and mortgage servicing company, has been resolving the 52,000 loan accounts of Balikatan Housing since 2005. In the process, it has not only managed to liquefy non-performing assets but has provided delinquent borrowers access to affordable and flexible plans to finally settle long outstanding obligations and fulfill their dreams of permanent homeownership.

BFS’ COO Beth Gilson recently attended the National Mortgage Servicing Convention and Expo in Dallas, Texas organized by the US Mortgage Bankers’ Association. Beth attended as part of BFS’ commitment to continuously observe international best practices in mortgage servicing.

Over 2,500 leading mortgage industry players attended, including senior executives of Fannie Mae, Freddie Mac and Ginnie Mae, the major US servicers, special servicers, sub-servicers, real estate professionals, lawyers and default management professionals and IT practitioners. The four-day conference covered a wide range of hot topics in the mortgage industry, such as loss mitigation techniques and programs, major government housing agency default management initiatives, foreclosure issues including the recent halt in thousands of foreclosures due to “robo-signing”, servicer compensation, paperless servicing and other topics related to the future of mortgage servicing.

Beth is excited about the learnings from the conference as it applies to BFS. “One of the main issues in the US is the volume of loan defaults and the inability of even the giant servicers to keep up with growing volume. I feel good knowing that our own BFS Account Specialists have developed the knowledge and skill sets to negotiate financial resolution with our clients. We have trained them well and our borrowers can attest to this. Moving forward, we will always strive for service excellence as we continue to address the needs of our borrowers.”