Sagent, a Warburg Pincus-backed fintech software company modernizing mortgage servicing for banks and lenders, appointed Eugene “Geno” Paluso as Chief Executive Officer, effective February 12. Along with Sagent’s board and executive team of servicing experts, Paluso will operationalize the $14 trillion mortgage servicing industry’s first and only cloud-native software platform in 2024. Paluso will succeed current CEO, Dan Sogorka, who will remain with the company as an advisor before transitioning to a new opportunity.
This is the latest move in Sagent’s multi-year strategic plan to build the future of mortgage servicing. Phase one of this plan was to move Sagent platforms to the cloud; earn long-term relationships with many of America’s top mortgage servicers; and begin building a new platform with a single data and user experience across the entire core, consumer, and default servicing lifecycle. As CEO, Paluso will lead Sagent’s next phase, which is to complete, launch, and operationalize this platform for customers in 2024 and beyond.
“Geno brings a track record of strong operational discipline to Sagent as it enters its next phase in delivering the future of mortgage servicing,” Frank Bisignano, chairman, president, and chief executive officer of global financial services technology provider Fiserv, which owns a stake in Sagent. “His impressive background and focus on operational excellence will complement Sagent’s industry leading technology and deep commitment to customer satisfaction.”
Paluso is a retired U.S. Navy Captain and highly decorated military leader, Navy SEAL, and commander of multiple SEAL Teams deployed to Europe, Middle East, and Africa. He served as Commandant of Cadets at The Citadel, a senior military college in Charleston, South Carolina, and immediately prior to joining Sagent, served as VP of Business Development for BAE Systems, a $45 billion multinational aerospace and technology company.
“Sagent is the future of mortgage servicing because our new software platform simplifies servicer operations, facilitates real-time compliance, and lowers costs in the most complex area of consumer finance,” said Paluso. “Launching our new Sagent platform with America’s top servicers is a true career honor, as is applying our team’s operational focus and expertise to the noble cause of growing American homeownership.”
Talking about Paluso’s management style, William H. McRaven, retired U.S. Navy four-star Admiral who served as the ninth commander of the U.S. Special Operations Command said:
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