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 partnership with the National Association of Minority Mortgage Brokers of America (NAMMBA) to shape the future of the servicing industry to reflect and embody the diverse American population it serves.
NAMMBA partners with banks, lenders, and fintechs to foster diversity and inclusion within these firms, bring financial literacy education to consumers, and mentor students and recent graduates as future innovation, diversity, and financial literacy leaders.
“Sagent powers loan servicers with a digital-first yet humanized consumer experience, and NAMMBA helps Sagent reflect the values and priorities of consumers we ultimately serve,” said Dan Sogorka, CEO and President of Sagent and a NAMMBA Visionary. “Per NAMMBA, 75% of all first-time buyers will be women, millennials, or people of color over the next five years, and Sagent will continue recruiting and mentoring team members who reflect this market.”
According to NAMMBA, the three largest diverse borrower groups (Asians, African Americans and Hispanics) generated more than $292 billion of purchase opportunity in 2020, which amounts to 24.2% of all purchase dollar opportunities. Banks, lenders, and fintechs best aligned with this market will have the most success.
“Because Sagent powers more than $1 trillion in outstanding mortgage balances for millions of American homeowners, they can be very influential in driving consumer financial literacy and mentoring future leaders that reflect the diversity and values of this country,” said NAMMBA Founder / CEO Tony Thompson, CMB. “Partners like Sagent help NAMMBA turbocharge its mission of housing market inclusion and growing the next generation of diverse innovators.”
Sagent modernizes the lending and homeownership experience for loan servicers and millions of 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.
The National Association of Minority Mortgage Bankers of America is a purpose-driven organization that is dedicated to the inclusion of minorities and women in the mortgage industry who are advocates for sustainable homeownership in local communities. To fulfill its mission, NAMMBA provides programs and initiatives to introduce minorities and women into the mortgage industry, including recruiting, advisory, networking and training for enterprises and individual professionals. For more information, visit: http://www.nammba.org.