Sagent [1], a fintech company modernizing mortgage and consumer loan servicing for American banks and lenders, last week appointed veteran technology leader Uday Devalla as Chief Technology Officer (CTO). The move accelerates Sagent’s vision to improve loan servicing engagement and consumer experience from the homeowner perspective, the company said.
Uday’s appointment is one in a series of executive hires [2] by CEO Dan Sogorka [3].
Sagent powers the homeownership and consumer lending experience for 12 million borrowers (and growing), enabling large banks and lenders to give America’s borrowers the same bank-on-your-phone experience they get in every other aspect of their lives.
“If mortgage originators are the finders of new customers, servicers must be the keepers of those customers,” said Sogorka. “In addition to being the industry’s most modern servicing system of record, Sagent powers lifetime customer engagement and retention for servicers. And Uday is a pioneer of building and running these complex systems at scale.”
Devalla has led engineering, digital transformation, information security, and regtech strategy in housing for more than two decades.
Most recently, Devalla led technology transformation as CIO at Stearns Lending, a top mortgage bank that also powers home lending for America’s most prominent fintech challenger bank. Under Devalla, Stearns led digital transformation in U.S. mortgage originations, and now he’s bringing that same transformation to servicing.
Prior to that, Devalla served as a technology executive at Bank of America (and its predecessor organization Countrywide), where he helped build and run the industry’s first non-agency automated underwriting system and proprietary loan origination system.
“The mortgage servicing tech stack isn’t just a system of record to keep lenders efficient, profitable, and compliant,” said Devalla. “It also must be the lifetime customer engagement and retention platform for customers, providing omnichannel advice and care during good and challenging times.”