Exec who made digital mortgage originations mainstream from top GSE and fintech posts will now oversee modernization of $13T mortgage servicing sector
King of Prussia, PA (January 12, 2023) – Sagent, a Warburg Pincus-backed fintech software company modernizing mortgage servicing for banks and lenders, today appointed Marianne Sullivan as Chief Operating Officer to accelerate development of the industry’s first and only cloud-native software that powers home ownership and loan servicing lifecycles for servicers, consumers, investors, and regulators. Sullivan will remain on Sagent’s board as she assumes an active operational role.
“Marianne Sullivan joined Sagent’s board in September 2020 to help architect our cloud-native software vision and multi-year execution plan,” said Sagent CEO Dan Sogorka.
“Phase one of that plan was to broaden the management team, renew and grow Sagent customer relationships, complete our landmark client/partner deal with top U.S. servicer Mr. Cooper, and integrate the Mr. Cooper fintech team we acquired into Sagent. Phase two is for Marianne to lead rapid progress on our next-gen software platforms for America’s intricate and highly regulated $13 trillion mortgage servicing sector. This will be the latest chapter in Marianne’s career as a mortgage fintech pacesetter and scale execution specialist.”
Sullivan has led some of the biggest innovation milestones in mortgage and consumer finance. At Fannie Mae, she led the creation and launch of two transformational initiatives: Collateral Underwriter®, which enables instant verification of home valuations; and Day One Certainty™, which enables the modern mortgage era with digital-native loan origination infrastructure and lender risk relief. As a Finicity board member, Sullivan helped grow the company, leading to its marquee sale to Mastercard while also enabling major strides in homeownership inclusion with automation of borrower cash flow data – including rental payment history – in lender credit decisioning.
“Building the future of mortgage servicing technology is about granular, nuanced innovation and executing with no mistakes across scale operations where every tiny detail is highly regulated,” said Sullivan.
“That is what Sagent stands for, and we execute credibly alongside America’s largest mortgage servicers because our fintech engineering and product teams are subject matter experts with deep resumes in the servicing trenches. My job is to help speed up this specialized modernization of the largest sector in consumer finance.”
Sagent has the industry’s only enterprise, default, and consumer mortgage servicing platforms that are all synced by real-time-data. This is the latest in a series of Sagent moves to transform the homeowner experience for financial orgs servicing millions of consumers with trillions in mortgage balances.
Sagent powers America’s top bank and nonbank lenders to engage, care for, retain, and modernize the homeownership experience for millions of borrowers. 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 backed by Warburg Pincus, one of the world’s leading private equity investors, and powers trillions in outstanding mortgage servicing for its customers. Visit www.sagent.com to learn more.