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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 24 June 2023 Industry Update SAGENT OPENS OPERATIONS IN INDIA S agent has announced the opening of its non-U.S. headquarters in Chennai, India, supporting the company's new- ly incorporated software engineering team resulting from Sagent's 2022 partnership deal with Mr. Cooper. In 2023, Sagent is selectively adding talent and operations to accelerate its building of cloud-native platforms to power America's complex $13 trillion mortgage industry. "Three key Sagent operational milestones this year are hiring Fannie Mae vet Marianne Sullivan as COO, hiring Wells Fargo vet Perry Hilzendeger as EVP of Servicing, and opening our Chennai, India, operation to ac- celerate our cloud-native mortgage servicing software development," Sagent CEO Dan So- gorka said. "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. With today's opening of our Chennai location, Sagent now has 520 employees along with hundreds of contrac- tors. 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." Sagent's new 18,367 square-foot non-U.S. headquarters in India opened its doors on May 8 and will host 120-plus Sagent team members. "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 India at Sagent. "We're all moving quickly on Sagent's vision to fundamentally change America's housing ecosystem and deliver positive out- comes for servicers and homeowners." Sagent Chief Technology Officer Uday Devalla has led Sagent's vision by insisting on team members with experience in both fintech and mortgage servicing. "Dual mortgage/fintech experience is required to truly innovate in a sector as com- plex 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." Sagent powers America's top bank and nonbank lenders to engage, care for, retain, and modernize the homeownership expe- rience for millions of borrowers. Servicers utilize the company's flexible, scalable, and configurable solutions to engage borrowers and earn customer loyalty, lower servicing costs, ensure compliance, and increase the value of servicing rights throughout full mar- ket cycles. Sagent is backed by Warburg Pin- cus, one of the world's leading private equity investors, and powers trillions in outstanding mortgage servicing for its customers. WFG ACQUIRES WEST COAST LOCAL RETAIL TITLE OPERATIONS FROM DOMA D oma Holdings, Inc. and Williston Financial Group (WFG), a Portland, Oregon-based provider of title insurance, underwriting, and escrow services, have jointly announced the signing and closing of an agreement for WFG to acquire certain branches of Doma's West Coast local retail title operations. The sale includes multiple retail title locations and operations centers in the Northern and Central Califor- nia regions. "This strategic transaction is aligned with our mission-driven go-forward strategy and refined focus on our core underwriting and technology business," said Max Simkoff, Founder and CEO of Doma. "Our West Coast operations are premier locations within their respective real estate communities with a track record of providing excellent customer service. We believe we have found an optimal home for our local team members in the branches we have sold to WFG, and they will continue to thrive under their leadership. I want to thank this team for their hard work and dedication to Doma and our vision over the years."