Mortgage servicing fintech leader establishes non-U.S. headquarters in Chennai following key partnership with servicing giant Mr. Cooper
KING OF PRUSSIA, Pa. — May 9, 2023 — Sagent, a Warburg Pincus-backed fintech software company modernizing mortgage servicing for banks and lenders, today announced the opening of its non-U.S. headquarters in Chennai, India, supporting Sagent’s newly incorporated software engineering team resulting from Sagent’s 2022 partnership deal with Mr. Cooper, the third-largest mortgage servicer in America.
In 2023, Sagent is selectively adding talent and operations to accelerate its building of cloud-native platforms to power America’s complex $13 trillion mortgage industry.
“Three key Sagent operational milestones this year are hiring Fannie Mae vet Marianne Sullivan as COO, hiring Wells Fargo vet Perry Hilzendeger as EVP, Servicing, and opening our Chennai, India operation to accelerate our cloud-native mortgage servicing software development,” said Sagent CEO Dan Sogorka.
In our landmark 2022 deal with Mr. Cooper, they became a Sagent customer, plus we acquired their highly experienced mortgage servicing fintech team, many of which are in India. With today’s opening of our Chennai location, Sagent now has 520 employees along with hundreds of contractors. We’re the only major fintech firm with a global team dedicated to building core, default, and consumer mortgage servicing platforms for top banks and lenders.
Sagent’s new 18,367 square-foot non-U.S. headquarters in India opened its doors on May 8 and will host 120+ Sagent team members.
Sagent India is a bright team full of relevant, reliable talent, and this team has a relentless commitment to the Sagent vision,” said Naren Sundram, SVP, Head of India at Sagent. “We’re all moving quickly on Sagent’s vision to fundamentally change America’s housing ecosystem and deliver positive outcomes for servicers and homeowners.
Sagent Chief Technology Officer Uday Devalla has led Sagent’s vision by insisting on team members with experience in both fintech and mortgage servicing.
Dual mortgage/fintech experience is required to truly innovate in a sector as complex as mortgage servicing,” said Sagent CTO Uday Devalla. “Sagent’s team now has the most successful servicing operators and best-in-class product engineers/fintech leaders, and our India expansion will help us fulfill our high talent bar.
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 organizations 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.