Pacifica Companies said it has selected BSI Financial to service two of its securitizations, real estate asset trust 2013-1 and asset-backed notes series 2013-1.
BSI will service 226 single-family residential loans and 39 single-family REO properties having an aggregate underlying asset balance of $79 million.
"Securitized loan servicing represents an exciting new growth opportunity for our clients, and we are committed to applying all resources at our disposal to make securitized loan servicing a success for Pacifica," said Gagan Sharma, President of BSI Financial, in a press release.
BSI provides mortgage subservicing, default solutions, loan quality control and business process outsourcing services. The company is an approved servicer with Fannie Mae, Freddie Mac, HUD, VA, Federal Home Loan Bank and several private investors.
The Pacifica Companies have invested approximately $7.6 billion in commercial and residential real estate sector including acquisition of single family REO investment properties.