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6 | TH E M R EP O RT MTECH Padgett, Chief Development Officer. The firm was founded in Tallahassee, Florida, in 1993 by Timothy D. Padgett, who today retains his day-to-day manage- ment role within the firm, serving as CEO. The firm expanded throughout the state of Florida, adding offices in Tampa and Fort Lauderdale to provide statewide coverage. In 2015, PLG acquired Topping & Associates, PC, which expanded the firm's practice into Georgia. Today the PLG executive team is based in the firm's Atlanta office located in the financial services hub of Buckhead. The Atlanta office also man- ages and processes all Georgia default and bankruptcy matters. The firm expanded into Tennessee in 2013 and operates out of its physical site in Memphis. The firm's entry into Tennessee was well received by clients with year-over- year growth exceeding projections by over 30 percent annually. PLG acquired Arkansas-based default ser- vices firm Dyke & Winzerling, PLLC in 2017, and today operates a full-service default prac- tice covering the entire state from its physical office in Little Rock. Success in Arkansas has been tremendous with production growth of 160 percent inside of 12 months. In November 2018, PLG announced the firm's second organic expansion with the opening of its Dallas, Texas, office and the commencement of full-service default legal services statewide. Anchoring the Dallas office is the firm's new Managing Attorney of Bankruptcy Operations, Keena Newmark, Esq. PLG's bankruptcy practice is national and covers the continental United States, Alaska, Puerto Rico, and the U.S. Virgin Islands. The 1 Million Mark SAGENT LENDING TOPS 1 MILLION LOANS ON LOANSERV. P ennsylvania-based Sagent Lending Technologies announced that it had supported 1 million consumer loans on LoanServ, the loan-servicing system powering the servicing operations of many leading financial businesses in the U.S. and Canada. LoanServ allows servicers to consolidate their use of outdated, heavily siloed servicing applications into a single unique platform that provides a single-borrower view and scales to accommodate growth. The platform sup- ports consumer loans and mortgages using a singular, unique design and data structure, unlike other servicing platforms that use wrap-around modules. In addition to making the loan process simpler for users, this helps servicers reduce costs. Consumer lending is highly variable in product and support needs and LoanServ automates more than traditional consumer systems. With full support for direct and in- direct channels, LoanServ has managed fixed and variable rate products, revolving and installment loans, credit insurance products, and all types of collateral by the millions. LoanServ is designed to support changing product types while helping servicers man- age state compliance on rates, refunds, late changes, and more. The system also adds automation for collections, reserved balances, secondary marketing, and even hypotheca- tion functions. "Solutions need to be built for today's marketplace to help servicers compete, deliver best-in-class borrower experiences, and reduce overall costs. One million consumer loans actively being serviced on LoanServ signals to the market that the solution is trusted by a variety of servicers and can handle the increased scale and flexibility that modern lending demands," said Bret Leech, CEO, Sagent Lending Technologies. "This is quite the milestone for us." Sagent Lending's suite of comprehensive origination, servicing, and processing offer- ings come together to deliver flexible, scal- able, and configurable solutions that deliver on the brand commitments of its clients. With solutions from Sagent, lenders and servicers can increase efficiency and improve agility in an ever-changing compliance envi- ronment. Sagent is a joint venture that com- bines Fiserv Inc.'s decades of market-leading lending expertise with Warburg Pincus' skill in growing technology companies. Tapping into Home Equity A NEW ALTERNATIVE TO REVERSE MORTGAGE IS HELPING BABY BOOMERS PLAN FOR RETIREMENT. F igure Technologies, Inc. (Figure), a California-based fintech company creating products and tools that empower homeowners to improve their finances, has announced Figure Home Advantage, a sell-and-leaseback alterna- tive to reverse mortgages for retirees and a new way for baby boomers to lock in record housing prices as they plan their retirement. With Figure Home Advantage, homeowners convert their home equity into cash they can put to use now while continuing to enjoy life at home without the ongoing burden of property taxes, repairs, and maintenance. Roughly 10,000 baby boomers turn 65 years old in the U.S. every day. A study by the National Conference of State Legislators and AARP found that 90 percent of people ADMIT ONE THE AF TER-REPAIR VALUE LOAN PROGRAM T , , RCN C • & ! FINANCING FOR UP TO 85% OF PURCHASE+ 100% OF RENOVATION COSTS! W RCN C . TAKE THE LEAP WITH RATES STARTING AT 7.99%! W' ' . L E N D I N G A L L A C R O S S