Home / Headlines / Sagent Lending Technologies Reaches 1 Million Loans on LoanServ
Print This Post Print This Post

Sagent Lending Technologies Reaches 1 Million Loans on LoanServ

Pennsylvania-based Sagent Lending Technologies announced that it had supported 1 million consumer loans on LoanServ, the loan-servicing system powering the servicing operations of many leading financial businesses in the U.S. and Canada.

LoanServ allows servicers to consolidate their use of outdated, heavily siloed servicing applications into a single unique platform that provides a single-borrower view and scales to accommodate growth. The platform supports consumer loans and mortgages using a singular, unique design and data structure, unlike other servicing platforms that use wrap-around modules. In addition to making the loan process simpler for users, this helps servicers reduce costs.

Consumer lending is highly variable in product and support needs and LoanServ automates more than traditional consumer systems. With full support for direct and indirect channels, LoanServ has managed fixed and variable rate products, revolving and installment loans, credit insurance products, and all types of collateral by the millions.

LoanServ is designed to support changing product types while helping servicers manage state compliance on rates, refunds, late changes, and more. The system also adds automation for collections, reserved balances, secondary marketing, and even hypothecation functions.

“Solutions need to be built for today’s marketplace to help servicers compete, deliver best-in-class borrower experiences, and reduce overall costs. One million consumer loans actively being serviced on LoanServ signals to the market that the solution is trusted by a variety of servicers and can handle the increased scale and flexibility that modern lending demands,” said Bret Leech, CEO, Sagent Lending Technologies. “This is quite the milestone for us.”

Sagent Lending's suite of comprehensive origination, servicing, and processing offerings come together to deliver flexible, scalable, and configurable solutions that deliver on the brand commitments of its clients. With solutions from Sagent, lenders and servicers can increase efficiency and improve agility in an ever-changing compliance environment. Sagent is a joint venture that combines Fiserv Inc.’s decades of market-leading lending expertise with Warburg Pincus’ skill in growing technology companies.

About Author: David Wharton

David Wharton, Editor-in-Chief at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has nearly 20 years' experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. He can be reached at [email protected].

Check Also

Advancing Servicer Automation Into 2024

Dan Sogorka of Sagent discusses the latest trends in the fintech space for mortgage servicers and the factors that will sway the housing market over the next 12 months.