Sagent, a fintech software company providing a servicing management platform for banks and lenders, appointed Chris Marshall as executive chairman. Marshall is vice chairman and president of Mr. Cooper, but announced plans to retire last year and will transition out of his role leading Mr. Cooper’s businesses at the end of January.
His term as executive chairman began on January 19.
Sagent’s appointment of Marshall comes amid the company’s goals to deliver the mortgage servicing industry’s first cloud-native software platform this year.
Marshall will work closely with Sagent’s executive team to achieve that goal as well as oversee the firm’s long-term strategy, according to the firm’s release.
“Mortgage servicing is the last and toughest mile of mortgage industry modernization, and Sagent’s technology, team, and industry expertise make it the best software partner for America’s servicers,” said Marshall.
He added: “Sagent’s new platform will streamline processes and dramatically lower operating costs for servicers, while significantly improving customer experience.”
In 2022, Mr. Cooper and Sagent announced a deal under which Sagent will buy certain intellectual property rights related to Mr. Cooper’s proprietary, cloud-based technology platform for mortgage servicing, and Mr. Cooper will receive an equity stake in Sagent. Marshall joined Sagent’s board under the terms of the transaction.
He will continue to lead efforts to raise capital for Mr. Cooper’s first mortgage servicing rights (MSR) fund while shifting his focus to Sagent and the success of its customers.
Prior to joining Mr. Cooper in 2019, Marshall served as executive chairman at Tax Guard Inc. and was co-founder and CFO at Capital Bank Financial Corp.
His career includes positions at GMAC, Inc., now Ally Financial, Inc. and The Blackstone Group L.P.
Founded in 2018, the King of Prussia, Pennsylvania-headquartered fintech primarily offers three platforms serving both consumer and enterprise customers — including a servicing system of record — a platform for borrowers to manage a loan in default and a servicer-branded customer attention, retention and engagement platform.