Deal combines modern mortgage fintech innovation with people-first community banking ethos
KING OF PRUSSIA, Pa. — May 2, 2023 — Sagent, a Warburg Pincus-backed fintech software company modernizing mortgage servicing for banks and lenders, today announced a five-year partnership extension with DCU- Digital Federal Credit Union to power its mortgage servicing operations. This is the latest in a series of recent deals for Sagent to transform the consumer borrower experience for financial organizations servicing millions of consumers with trillions in mortgage balances.
Digital Federal Credit Union will continue relying on Sagent’s LoanServ platform to power precise, scale execution across DCU’s mortgage servicing lifecycle. DCU currently uses Sagent’s nimble, highly configurable system-of-record platform to deliver a better member experience and adjust in real time to constantly evolving customer and regulatory needs.
“Our vision at Digital Federal Credit Union is to help all our members achieve their financial goals collaboratively. Sagent’s cloud-native platform powers high-touch, high-tech banking that helps us keep customers for life,” said Jason Sorochinsky, DCU’s Vice President of Mortgage Lending.
“For nearly two decades, we’ve relied on Sagent to power the loan servicing experience for our members. With Sagent powering our mortgage servicing, we operate more efficiently, stay ahead of member expectations for modern experiences, and remain current with the fast pace of fintech innovation.”
The Massachusetts-based Digital Federal Credit Union is the largest credit union headquartered in New England and in the top 20 nationwide. Serving as the credit union of choice for 700+ companies and more than one million customers across all 50 states, DCU offers an array of services, including consumer banking and lending services, business banking and lending services, insurance, and real-estate services.
“For decades, Digital Federal Credit Union has grown and retained members with a customer-obsessed approach that reflects Sagent’s own homeowner-first vision, and we’re proud to deliver on high-touch service with high-tech experiences for DCU’s customers and teams,” said Sagent CEO Dan Sogorka.
“Sagent is the only scale platform with real-time data powering every aspect of loan servicing for trillions of dollars in outstanding mortgage balances. We’re honored to deepen our partnership with DCU as we continue collaborating to exceed investor, auditor, regulator, and borrower expectations.”
Sagent has the industry’s only enterprise, default, and consumer mortgage servicing platforms 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.
Digital Federal Credit Union is an $11.2 billion, not-for-profit financial cooperative owned by and operated for our members. DCU was chartered in October of 1979. Since then, DCU has been chosen as the credit union for more than 700 companies and organizations. DCU serves more than one million members and their families in all 50 states. For additional information, visit www.dcu.org.