Warburg Pincus and Fiserv-backed company to modernize last and most complex frontier of housing ecosystem
King of Prussia, Pa. March 12, 2020 – Sagent Lending Technologies, a leading fintech company modernizing mortgage and consumer loan servicing, today appointed Dan Sogorka CEO and president, replacing Bret Leech who will become executive chairman and board member. The move accelerates Sagent’s vision to disrupt loan servicing and home ownership from the consumer perspective.
Sogorka’s appointment to CEO and president is the latest of a series of steps to accelerate Sagent’s growth. Since 2018, Sagent has:
some of America’s largest loan servicers to its modern servicing platform
Account Connect to give servicers advanced customer analytics and a new user
experience to engage homeowners at just the right times, and
- Acquired ISGN Technologies to expand default servicing capabilities.
“Loan servicing must be as much about anticipating and exceeding consumer expectations as it is about anticipating and managing lender risk,” said Sogorka. “Sagent is a modern platform using data and analytics to earn customer loyalty, lower lender servicing costs, ensure compliance, and increase the value of servicing rights throughout full market cycles.”
Sagent’s institutional backing keeps it focused on its long-term vision of ensuring lenders properly care for customers throughout the homeownership lifecycle, which includes home purchasing, refinancing, servicing and retention, home equity, default, loan modification, bankruptcy, and foreclosure.
Under Sogorka’s leadership, Sagent will execute in two ways:
- Continue rapid innovation and
acquisitions of core technologies to modernize the loan servicing workflow
including customer service, payments, escrow, investor, collections, loss
mitigation, bankruptcy, foreclosure, REO, and claims.
- Continue to partner and integrate modern systems for loan origination, point of sale, products and pricing, eSign, digital closing, and marketing.
“A maturing economic cycle creates urgency to modernize mortgage servicing,” said Alex Stratoudakis, principal at Warburg Pincus. “To modernize at scale, Sagent plans to build or buy all modules servicers need to eliminate data silos. Dan knows how to lead housing into this final and most complex frontier of innovation.”
Sogorka has led digital transformation in housing for two decades. Before joining Sagent, Sogorka served as CEO of digital mortgage point of sale provider Cloudvirga, President of EXOS Technologies, EVP of Servicelink, a $1 billion revenue subsidiary of Fidelity National Financial, and Division President at mortgage servicing and data provider Black Knight.
Sagent was formed in 2018 as a joint venture between Warburg Pincus, a leading global private equity firm, and Fiserv, a leading global provider of financial services technology, with a focus on improving the lending experience for both lenders and borrowers. Backed by Warburg Pincus and Fiserv, Sagent plans to modernize consumer and mortgage loan servicing at scale.
About Sagent Lending Technologies
Sagent Lending Technologies modernizes the lending and homeownership experience for servicers and consumers. Servicers use our flexible, scalable, and configurable solutions to engage borrowers and earn customer loyalty, lower servicing costs, ensure compliance, and increase the value of servicing rights throughout full market cycles. Sagent is a joint venture that combines Fiserv Inc.’s decades of market-leading fintech expertise with Warburg Pincus’ skill in growing technology companies. Visit www.sagentlending.com to learn more.