Alliance builds next-gen diverse talent to engage and care for millions of American homeowners representing $1+ trillion in outstanding mortgages
August 5, 2021 – King of Prussia, PA – Today we announced a partnership with the National Association of Minority Mortgage Brokers of America (NAMMBA) to shape the future of the servicing industry to reflect and embody the diverse American population it serves.
NAMMBA partners with banks, lenders, and fintechs to foster diversity and inclusion within these firms, bring financial literacy education to consumers, and mentor students and recent graduates as future innovation, diversity, and financial literacy leaders.
“Sagent powers loan servicers with a digital-first yet humanized consumer experience, and NAMMBA helps Sagent reflect the values and priorities of consumers we ultimately serve,” said Dan Sogorka, CEO and President of Sagent and a NAMMBA Visionary.
To that end, Sagent has established three main diversity, equity, and inclusion goals:
- Workforce diversity. We recruit from a diverse, qualified group of potential applicants to secure high performance.
- Workplace inclusion. We will cultivate a culture that encourages collaboration, flexibility, and fairness for all so that everyone can contribute to their full potential.
- Sustainability. We develop structures and strategies to give leaders the ability to manage diversity, be accountable, measure results and refine their approaches.
We recognize that a diverse employee base starts with diversity within candidate pools, and that teams that consist of diverse talent contribute to better overall performance. To bolster workforce diversity, we’re working closely with NAMMBA and Circa Works to implement a new Workforce Recruitment Strategy to increase the diversity of our candidate pool and utilize more platforms to identify new talent.
Sagent has also started holding quarterly Diversity Training Webinars and established its first Employee Resource Group (ERG), the Women’s Leadership Council. The council’s interactive meetings are meant to create a safe and supportive space where all members of the Sagent team can ask questions, share experiences, and gain insight. In the quarter ahead, Sagent is launching a program to encourage employee-led affinity groups to champion the diverse array of voices and foster community-building across our organization.
Per NAMMBA, 75% of all first time first-time buyers will be women, millennials, or people of color over the next five years, and Sagent will continue recruiting and mentoring team members who reflect this market.
“Because Sagent powers more than $1 trillion in outstanding mortgage balances for millions of American homeowners, they can be very influential in driving consumer financial literacy and mentoring future leaders that reflect the diversity and values of this country,” said NAMMBA Founder / CEO Tony Thompson, CMB. “Partners like Sagent help NAMMBA turbocharge its mission of housing market inclusion and growing the next generation of diverse innovators.”
According to NAMMBA, the three largest diverse borrower groups (Asians, African Americans and Hispanics) generated more than $292 billion of purchase opportunity in 2020, which amounts to 24.2% of all purchase dollar opportunities. Banks, lenders, and fintechs best aligned with this market will have the most success.
Sagent modernizes the lending and homeownership experience for loan servicers and millions of 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.
The National Association of Minority Mortgage Bankers of America is a purpose-driven organization that is dedicated to the inclusion of minorities and women in the mortgage industry who are advocates for sustainable homeownership in local communities. To fulfill its mission, NAMMBA provides programs and initiatives to introduce minorities and women into the mortgage industry, including recruiting, advisory, networking and training for enterprises and individual professionals. For more information, visit: http://www.nammba.org.