KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--Sagent, a fintech company modernizing mortgage and consumer loan servicing for America’s top banks and lenders, today announced a new seven-year partnership with Servion Mortgage to power its entire consumer and enterprise experience across performing and non-performing loans.
As Servion aims to deliver real-time automation and increased operational efficiency for their credit union partners, they’ll power scale servicing operations using Sagent’s consumer-first, enterprise-grade servicing platforms including LoanServ (system of record), Tempo (loss mitigation and default management), and CARE (consumer experience). These platforms enable Servion to offer a bank-on-your-phone experience to consumers so they can manage their entire homeownership lifecycle anytime, from any device.
“At Servion, we want to deliver a digital future to the credit unions we support, and to do this, we sought a servicing fintech provider who could empower our partners with a modern servicing tech stack to exceed the expectations of today’s digital-first borrowers,” said Brad Crandall, President and CEO at Servion.
“After a thorough examination of the market, it was clear that Sagent was the only servicing fintech provider who could offer the fully integrated, fully configurable servicing tech we needed to power a full consumer-first modernization stack for our partners and the borrowers they serve.”
Since 1987, Servion, a Minnesota-based credit union servicing organization, has grown steadily by serving the detailed needs of community financial institutions. Partnering with nearly 500 financial institutions nationwide, Servion provides credit unions and community banks with the tools to reach their true potential. This includes providing infrastructure credit unions need to power servicing for billions in mortgage and non-mortgage balances for their consumers.
“Credit unions and community banks understand the customer lifecycle better than anyone. They have perfected the art of highly personalized customer care, and now Sagent is honored to work with Servion to superpower their smart human advice. They will use our core servicing, default management, and consumer platforms to deliver modern, digital simplicity to their teams and the consumers they serve,” said Dan Sogorka, CEO and President of Sagent.
As the housing industry’s most modern, consumer-first loan servicing system of record, Sagent powers America’s top bank and nonbank lenders to engage, care for, and retain millions of consumer borrowers with more than $1 trillion in outstanding loan balances.
About Sagent
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.
About The Servion Group
Based in the Twin Cities, The Servion Group was founded in 1987 by three Minnesota credit unions wanting to offer competitive mortgage products. Today, Servion is co-owned by 53 credit unions and supports nearly 500 credit unions and community banks across the country via solutions spanning mortgage, title, realty, financial advisory, and business lending, delivered through a staff of more than 270 employees.
