Move is part of its partnership with Mr. Cooper
Sagent has announced that it opened non-US headquarters in Chennai, India, with over 120 team members at the site.
The fintech company said the expansion was prompted by its partnership with Mr. Cooper. Sagent recently added talent and operations, building a software engineering team to support the partnership deal.
Additionally, Sagent CEO Dan Sogorka said the India operation will accelerate the company’s cloud-native mortgage servicing software development.
"In our landmark 2022 deal with Mr. Cooper, they became a Sagent customer, plus we acquired their highly experienced mortgage servicing fintech team, many of which are in India,” Sogorka said. “With today's opening of our Chennai location, Sagent now has 520 employees along with hundreds of contractors. We're the only major fintech firm with a global team dedicated to building core, default, and consumer mortgage servicing platforms for top banks and lenders."
Read more: Sagent reaches for the cloud with mortgage deal
"Sagent India is a bright team full of relevant, reliable talent, and this team has a relentless commitment to the Sagent vision," said Naren Sundram, SVP, head of Sagent's India headquarters. "We're all moving quickly on Sagent's vision to fundamentally change America's housing ecosystem and deliver positive outcomes for servicers and homeowners."
According to the company's news release, Sagent chief technology officer Uday Devalla insisted on hiring employees with experience in both fintech and mortgage servicing.
"Dual mortgage/fintech experience is required to truly innovate in a sector as complex as mortgage servicing," Devalla said. "Sagent’s team now has the most successful servicing operators and best-in-class product engineers/fintech leaders, and our India expansion will help us fulfill our high talent bar.”
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