Sagent Lending Solutions, the mortgage servicing joint venture of Fiserv and Warburg Pincus, announced Monday that the company is acquiring ISGN, a mortgage technology provider.
According to Sagent, the acquisition of ISGN will allow the company to increase its mortgage servicing and technology offerings.
Sagent was formed in 2018 after Fiserv sold more than half of its mortgage servicing business to Warburg Pincus for $395 million. The plan was for the companies to operate the servicing business, called Fiserv Lending Solutions, as a joint venture.
The joint venture continued, but the company changed its name to Sagent later in 2018.
And now, the company is set to expand by acquiring ISGN, which offers multiple loan servicing solutions including: LoanDynamix, Tempo, LoanMomentum, and Gators.
“The acquisition of ISGN broadens the solutions offered by Sagent, including Tempo, a default solution and further supports Sagent’s long-term growth strategy reflecting the company’s dedication to enhancing its comprehensive capabilities within the mortgage and consumer lending market,” Sagent said in a release.
Financial terms of the deal were not disclosed, nor did the companies disclose an anticipated closing date.
“We look forward to having the ISGN clients and team members join our broader Sagent community. Together we will remain focused on providing a superior borrower experience and lowering the total cost of servicing,” said Bret Leech, CEO of Sagent Lending Technologies.
“Clients and borrowers expect real-time engagement and access to their data,” Leech added. “Like Sagent, ISGN built its offerings to meet these expectations and together we will move forward with an inclusive and comprehensive servicing solution.”