BSI Financial bolsters loss mitigation, regulatory compliance efforts

Servicing

Aiming to boost its expansion efforts in loan servicing and financial services, BSI Financial Services announced the addition of two seasoned executives to its management team.

According to BSI Financial, Mohit Pathan is joining the company as senior vice president, overseeing loss mitigation and project management.

Additionally, Nonny Sanchez is joining BSI Financial as assistant vice president, leading the company’s regulatory compliance department.

Pathan brings 25 years of experience to BSI Financial. Over the course of his career, Pathan served in an executive-level position in fixed asset operations at Bear Stearns, led the international expansion of branch banking for emerging markets for Barclays Bank, and oversaw loan performance and management of Citibank’s national first-lien portfolio.

Sanchez also brings significant experience to BSI Financial.

Sanchez, a 14-year veteran of the mortgage finance industry, most recently managed the default compliance program at PennyMac.

In this role, Sanchez led compliance initiatives that included rules installed by the Consumer Financial Protection Bureau, as well as the Home Affordable Modification Program, Fannie Mae, Freddie Mac, the Federal Housing Administration, and others.

“We are creating new avenues for growth by modernizing our business processes and investing in new technology,” said Gagan Sharma, President and CEO of BSI Financial.

“Balancing risk with business expansion requires skills that have been honed by managing change in challenging times, the kind of skills that Mohit and Nonny have accumulated over their careers,” Sharma added. “We welcome them to our management team.”

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