KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--Sagent, a Warburg Pincus-backed fintech software company modernizing mortgage servicing for banks and lenders, today appointed Eugene “Geno” Paluso as Chief Executive Officer, effective February 12. Along with Sagent’s board and executive team of servicing experts, Paluso will operationalize the $14 trillion mortgage servicing industry’s first and only cloud-native software platform in 2024. Paluso will succeed current CEO, Dan Sogorka, who will remain with the company as an advisor before transitioning to a new opportunity.
This is the latest move in Sagent’s multi-year strategic plan to build the future of mortgage servicing. Phase one of this plan was to move Sagent platforms to the cloud; earn long-term relationships with many of America’s top mortgage servicers; and begin building a new platform with a single data and user experience across the entire core, consumer, and default servicing lifecycle. As CEO, Paluso will lead Sagent’s next phase, which is to complete, launch, and operationalize this platform for customers in 2024 and beyond.
“Geno brings a track record of strong operational discipline to Sagent as it enters its next phase in delivering the future of mortgage servicing,” Frank Bisignano, chairman, president, and chief executive officer of global financial services technology provider Fiserv, which owns a stake in Sagent. “His impressive background and focus on operational excellence will complement Sagent’s industry leading technology and deep commitment to customer satisfaction.”
Paluso is a retired U.S. Navy Captain and highly decorated military leader, Navy SEAL, and commander of multiple SEAL Teams deployed to Europe, Middle East, and Africa. He served as Commandant of Cadets at The Citadel, a senior military college in Charleston, South Carolina, and immediately prior to joining Sagent, served as VP of Business Development for BAE Systems, a $45 billion multinational aerospace and technology company.
“Sagent is the future of mortgage servicing because our new software platform simplifies servicer operations, facilitates real-time compliance, and lowers costs in the most complex area of consumer finance,” said Paluso. “Launching our new Sagent platform with America’s top servicers is a true career honor, as is applying our team’s operational focus and expertise to the noble cause of growing American homeownership.”
Talking about Paluso’s management style, William H. McRaven, retired U.S. Navy four-star Admiral who served as the ninth commander of the U.S. Special Operations Command said:
“Geno Paluso was one of the finest SEAL officers I ever served with in my career. He is a remarkable leader who has earned the respect of everyone who ever followed him. His compassion, his sense of commitment, and his uncompromising integrity make him the ideal CEO and Sagent is fortunate to have him.”
Sagent will unveil details of its new future-of-servicing software platform at the Mortgage Bankers Association Servicing Solutions Conference & Expo in Orlando on February 20, 2024.
“Geno Paluso is a visionary who gets the details and the ideal leader to operationalize the first-ever end-to-end loan servicing software platform,” said Sagent executive chairman Chris Marshall. “With Geno driving the team, Sagent will deliver the mortgage industry’s biggest innovation overhaul in decades.”
About Sagent
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 sagent.com to learn more.
