How to Make a BSI Financial Payment

Payment Method Deep Dive

Online ACH (MyLoanWeb) — Most Popular

Online ACH through the MyLoanWeb portal is the most common payment method. Benefits include immediate confirmation, no fees, and payment history tracking.

• No fee for ACH payments
• Next-day posting for payments made before 8 PM ET
• Confirmation email sent immediately upon scheduling
• Recurring option for automatic monthly payments

Phone Payment

Call BSI's phone payment line at 800-327-7861 to make payments by phone.

• Convenience fee may apply — Typically $10-15 for phone-assisted payments
• Free automated option — Available via IVR without agent assistance
• Business hours only — Live agent Monday-Friday 8 AM-8 PM ET

Mail-in Payment (Traditional)

Physical checks can be mailed to:

BSI Financial Services
P.O. Box 679002
Dallas, TX 75267-9002

Best practices for mail-in payments:

• Write your loan number on the check memo line
• Include your payment coupon (from monthly statement)
• Mail 7-10 days before due date to account for postal delays
• Use trackable/certified mail for late payments to prove mailing date
• Never send cash

Wire Transfer (For Payoffs)

For loan payoffs or exceptionally large payments, wire transfer is available:

• Request wire instructions from BSI (call 800-327-7861)
• Wire fees typically $15-30 from your bank
• Same-day posting when wired before 3 PM ET
• Cannot be reversed once sent

Bill Pay from Your Bank

Many banks offer bill pay services that can send checks or ACH to BSI:

• Set up BSI as payee in your bank's bill pay system
• Use your loan number as the account identifier
• Allow 5-7 business days for delivery
• Some banks send physical checks (slower); others send ACH (faster) — verify with your bank

Common Payment Problems and Solutions

Payment Not Showing on Account

If you made a payment but it doesn't appear on your account:

1. Wait 3-5 business days from initial payment for processing
2. Check with your bank to confirm the payment cleared
3. If cleared but not applied, call BSI immediately with clearing evidence
4. If not resolved within 5 days of clearing, send a Qualified Written Request with copies of bank statements showing the payment cleared

Payment Applied Incorrectly

If your payment was applied but to the wrong category (e.g., all to principal when you wanted escrow current):

1. Call BSI to request reapplication
2. If unresolved, send written request with correct application
3. Under RESPA, servicer must correct application errors within 30 days of QWR

Escrow Shortage Payment Increases

If your monthly payment jumped due to escrow shortage:

• Request your annual escrow analysis
• Verify tax and insurance amounts against actual bills
• You typically have two options: (1) pay the shortage in one lump sum and keep monthly payment the same, or (2) spread the shortage over 12 months (higher monthly payment)
• Contact BSI to choose option and confirm calculation

Late Payment Consequences

Late payments have escalating consequences:

• Days 1-15 — Grace period; no late fee
• Day 15-16 — Late fee assessed (typically 4-5% of P&I portion)
• Day 30+ — Late payment reported to credit bureaus (30-day late)
• Day 60+ — Second late reporting (60-day late)
• Day 90+ — Third late reporting (90-day late); default status begins
• Day 120+ — Foreclosure process typically initiated (varies by state)

If you're having trouble making payments, contact BSI's Loss Mitigation department immediately at 866-484-2842. Options may include forbearance, loan modification, or repayment plans.