Sagent Lending Technologies, a fintech company offering mortgage servicing software, on Thursday said it has appointed Marianne Sullivan as its chief operating officer.
Sullivan, who has led some of the biggest innovation milestones in mortgage and consumer finance — including at Fannie Mae — has been appointed “to accelerate development of the industry’s first and only cloud-native software that powers home ownership and loan servicing lifecycles for servicers, consumers, investors, and regulators,” the company said in a news release.
Sullivan will remain on Sagent’s board as she assumes an active operational role, the company added.
“Marianne Sullivan joined Sagent’s board in September 2020 to help architect our cloud-native software vision and multi-year execution plan,” said Sagent CEO Dan Sogorka. “Phase one of that plan was to broaden the management team, renew and grow Sagent customer relationships, complete our landmark client/partner deal with top U.S. servicer Mr. Cooper, and integrate the Mr. Cooper fintech team we acquired into Sagent.”
“Phase two,” Sogorka continued, “is for Marianne to lead rapid progress on our next-gen software platforms for America’s intricate and highly regulated $13 trillion mortgage servicing sector. This will be the latest chapter in Marianne’s career as a mortgage fintech pacesetter and scale execution specialist.”
At Fannie Mae, Sullivan led the creation and launch of two transformational initiatives: Collateral Underwriter, which enables instant verification of home valuations; and Day 1 Certainty, which enables the modern mortgage era with digital-native loan origination infrastructure and lender risk relief.
As a Finicity board member, Sullivan helped grow the company, leading to its marquee sale to Mastercard while also enabling major strides in homeownership inclusion with automation of borrower cash flow data — including rental payment history — in lender credit decision making.
“Building the future of mortgage servicing technology is about granular, nuanced innovation and executing with no mistakes across scale operations where every tiny detail is highly regulated,” Sullivan said. “That is what Sagent stands for, and we execute credibly alongside America’s largest mortgage servicers because our fintech engineering and product teams are subject matter experts with deep resumes in the servicing trenches. My job is to help speed up this specialized modernization of the largest sector in consumer finance.”
Sagent has the industry’s only enterprise, default, and consumer mortgage servicing platforms that are all synced by real-time data, the company said.
The appointment of Sullivan is the latest in a series of moves the company has made to transform the homeowner experience for financial organizations servicing millions of consumers with trillions in mortgage balances, company officials said.
Based in King of Prussia, Pa., 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.