Sagent To Power Loan Servicing for Bank of England Mortgage

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The Arkansas-based lender will use Sagent’s service solutions to collect monthly payments from borrowers and manage loans when homeowners fall behind on their payments.

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It might not be the Bank of England you thought, but fintech software developer Sagent is happy to have signed a 10-year deal to service loans for the Bank of England’s mortgage division. England based in Arkansas.

Headquartered in England, Arkansas, Bank of England Mortgage is a national mortgage lender with 1,000 employees working in 145 branches in 39 states.

Bank of England Mortgage, which also trades as Vinings Mortgage, has signed on to use Sagent’s service platforms to collect monthly payments from borrowers and manage loans when homeowners fall behind on their payments.

Dan Sogorka

The technology will help Bank of England Mortgage “take care of its customers through good and bad times with real-time engagement where customers can self-serve or get smart human advice at any time,” said the Sagent CEO Dan Sogorka in a statement.

Sagent will power the entire Bank of England service technology stack providing solutions such as LoanServ (system of record), Tempo (loss mitigation and default management), CARE (care, retention and engagement clients), LoanBoard (new loan) and Datascape+ (cloud-based data platform).

“As we modernize our service capabilities to meet the needs of our customers throughout their lifecycle, it became clear that Sagent was the only service fintech partner who could adapt to our rapid growth and changing circumstances. “expanding our services while improving the quality of experience our customers expect and value,” said Brad Staley, Head of Service at Bank of England Mortgage, in a statement.

A fintech software company that is a joint venture between Fiserv Inc. and private equity firm Warburg Pincus, Sagent announced in February a $250 million deal to acquire Mr. Cooper’s mortgage services platform, l a leading mortgage servicer collecting payments on over $3 million. real estate loans. The agreement commits Mr. Cooper, who took an equity stake in Sagent as part of the agreement, to license Sagent’s service platform for seven years.

Sagent has also entered into agreements with Figure Technologies to use its Provenance Blockchain technology to create efficiencies in lending and power Figure’s mortgage service.

Thanks to its expanded capabilities, Sagent signed agreements with several new lenders this year, as well as renewing existing clients, including:

  • Chickasaw Community Bank signed a 10-year agreement with Sagent to power its maintenance business in June.
  • Fairstone Financial Inc. extended a partnership with Sagent to boost its personal loans business for another five years in May.
  • Clearview Federal Credit Union signed a seven-year deal with Sagent in April to bring its mortgage services business in-house.
  • Liberty Mortgage Corp. signed a five-year partnership extension with Sagent in March to service $400 billion in loans.
  • First Bank Gateway extended a multi-year service partnership with Sagent in January.

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