Sagent Appoints Former BofA Exec as CTO to Accelerate Consumer-First Modernization of Mortgage Servicing
Uday Devalla, Formerly of Bank of America and Stearns Lending, to bring same consumer sensibility available in mortgage originations to servicing
KING OF PRUSSIA, Pa. – September 17, 2020 – Sagent, a fintech company modernizing mortgage and consumer loan servicing for America’s top banks and lenders, today appointed veteran technology leader Uday Devalla as Chief Technology Officer. The move accelerates Sagent’s vision to improve loan servicing engagement and consumer experience from the homeowner perspective. Uday’s appointment is one in a series of executive hires by CEO Dan Sogorka.
Sagent powers the homeownership and consumer lending experience for 12 million borrowers (and growing), enabling large banks and lenders to give America’s borrowers the same bank-on-your-phone experience they get in every other aspect of their lives.
“If mortgage originators are the finders of new customers, servicers must be the keepers of those customers,” said Sogorka. “In addition to being the industry’s most modern servicing system of record, Sagent powers lifetime customer engagement and retention for servicers. And Uday is a pioneer of building and running these complex systems at scale.”
Devalla has led engineering, digital transformation, information security, and regtech strategy in housing for more than two decades.
Most recently, Devalla led technology transformation as Chief Information Officer at Stearns Lending, a top mortgage bank that also powers home lending for America’s most prominent fintech challenger bank. Under Devalla, Stearns led digital transformation in U.S. mortgage originations, and now he’s bringing that same transformation to servicing.
Prior to that, Devalla served as a technology executive at Bank of America (and its predecessor organization Countrywide), where he helped build and run the industry’s first non-agency automated underwriting system and proprietary loan origination system.
“The mortgage servicing tech stack isn’t just a system of record to keep lenders efficient, profitable, and compliant,” said Devalla. “It also must be the lifetime customer engagement and retention platform for customers, providing omnichannel advice and care during good and challenging times.”
Devalla and Chief Innovation Officer Tim Von Kaenel have already accelerated how Sagent’s enterprise and consumer suites power America’s largest lenders to care for customers using the most modern technology.
Sagent modernizes the lending and homeownership experience for loan 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.sagent.com to learn more.