Sagen

Office address: 2060 Winston Park Drive, Suite 300 Oakville, Ontario L6H 5R7, Canada
Website: www.sagen.ca
Year established: 1995
Company type: Financial services
Employees: 250+
Expertise: Default mortgage insurance
Parent company: Brookfield Business Partners LP
CEO and key people: Stuart Levings, president and CEO
Financing status: Private equity-backed 

Sagen, formerly known as Genworth Canada, is the country’s largest provider of private mortgage insurance. It offers lenders and brokers a range of mortgage protection products.

Sagen’s team consists of experienced regional account managers and underwriters, working together to deliver excellent service. The company also provides continuing education and training programs and market research services. Sagen's rebranding symbolizes an evolution, reflecting its storied past and forward-thinking approach to the future.

History of Sagen

Sagen's journey began in 1995, focusing on providing innovative default mortgage insurance solutions to lenders and brokers. This initiative was aimed at making homeownership more accessible across Canada. Over the years, Sagen has maintained a strong commitment to its customers, adapting to industry changes and working closely with policymakers. The company's rebranding represents its ongoing dedication to the housing market and its stakeholders.

Products and Services of Sagen

Sagen offers a diverse range of products and services, each designed to enhance the homeownership experience in Canada. Here are some of its standout offerings:

• Homeowner Assistance Program (HOAP): this program is a cornerstone of Sagen's commitment to sustainable homeownership. It assists homeowners facing short-term financial difficulties, helping them to avoid foreclosure and maintain their homes
• underwriting policies & standards: Sagen provides comprehensive resources for lenders, including up-to-date information on interest rates, policies, and guidelines. This service is crucial for maintaining high standards in mortgage underwriting.
• Homebuyer 95 Program: tailored for homebuyers with smaller down payments, this program is instrumental in making homeownership more accessible, especially for first-time buyers
• New to Canada Program: recognizing the unique challenges faced by new immigrants, this program facilitates their path to owning a home, aiding their integration into Canadian society
• Purchase Plus Improvements Program: this innovative service allows homebuyers to include the cost of home improvements in their mortgage, enabling them to enhance their property immediately upon purchase.

Culture at Sagen

Sagen's culture is underpinned by values of heart and integrity. It focuses on responsible homeownership as a cornerstone for wealth creation and sustainable communities. The company encourages employee growth, supports diversity and inclusion, and actively participates in community volunteerism and charity work. This culture reflects Sagen's commitment to not just business success but also to making a positive impact on society.

About Sagen President and CEO Stuart Levings

Stuart Levings started his tenure as president and CEO of Sagen in January 2015. Prior to this, he held several senior leadership roles within the company, including as chief operating officer, chief risk officer, and chief financial officer. Levings joined Sagen in July 2000 as financial controller after a seven-year stint at Deloitte & Touche.

Levings boasts more than 20 years of professional experience in different sectors. He holds CPA and CA designation and is a member of the Canadian Institute of Chartered Accountants. Levings earned a Bachelor of Accounting Science degree from the University of South Africa.

The Future at Sagen

Sagen is committed to being Canada's mortgage insurer of choice. With a strong foundation built over 25 years, the company is set for continued growth and innovation in the mortgage insurance sector. Sagen's focus remains on enhancing stakeholder value, promoting sustainable communities, and maintaining its position as a thought leader in the industry. Sagen’s future is marked by optimism and driven by a commitment to responsible homeownership and community development.