Sagent, a fintech software company working to modernize mortgage and consumer loan servicing, has struck two strategic deals with digital lending and payments fintech Figure. 

The companies hope the new partnership will bring more mortgage assets onto the public Provenance Blockchain, developed by the Figure team, which Figure’s co-founder and CEO Mike Cagney says will double fulfillment capacity for Figure-owned mortgage operations.

Under the terms of the new agreements, Sagent will power Figure’s mortgage servicing offering and the two firms will partner to accelerate Figure’s blockchain vision.

“Together, we will reinvent the consumer mortgage servicing experience with Figure’s innovation speed and Sagent’s servicing depth,” said Figure co-founder and CEO Mike Cagney. “We’ll also begin bringing scale mortgage assets onto the Provenance Blockchain to reduce mortgage industry costs by up to 100 basis points from origination through securitization.”

The deal follows Figure’s $200m series D fundraise and announced merger with $25 billion-a-year mortgage originator Homebridge.

“Partnering with Figure not only adds a hyper-growth mortgage player as a Sagent customer, it also lets Sagent innovate faster than ever for all customers on our three major performing, non-performing, and consumer platforms,” said Sagent CEO and President Dan Sogorka. “Sagent is the only major industry platform prioritizing modernization over margins, and this deal rapidly accelerates our execution on rewiring banks and lenders for the agility and speed required in the fintech age.”

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