Consumer-First Servicing Modernization: Servicing comprises the vast majority of a customer’s borrowing lifecycle, and Sagent CARE brings the same modern experience borrowers get in the origination space to servicing, where lifetime customer relationships are managed and grown. Borrowers can manage loans and get immediate hardship help from any device. And servicer teams can help anytime using the same interface as consumers. This will help servicers improve retention rates which the MBA’s June 2021 Servicing Operations Study reports at just 21%.
Sagent’s CARE platform is comprised of four components:
CARE Loan Servicing – Powers customer self-serve on performing loans anytime, anywhere. Borrowers can manage payments and escrows, find savings and remain engaged with servicers.
CARE Loss Mitigation – Powers customers to self-serve on non-performing loans anytime, anywhere. Borrowers can manage all types of hardship cycles from request to resolution, from any device.
CARE Customer Service – Powers servicers to support borrowers using the same UI/UX borrowers are using, take over when they need help and resolve customer needs fast with real-time secure messaging and doc/data sharing.
CARE API Marketplace – API platform that lets servicers match their CARE servicing tools with the rest of their consumer experience.
Sagent CARE sets the tone for consumer-first servicing modernization for three reasons:
Retain strong borrowers looking for savings, new homes, new loans, debt consolidation and other advice. Stabilize struggling borrowers who need immediate hardship care from inquiry to resolution.
Seamlessly link servicers’ teams to the customer experience, so customers can get immediate human help with fast, relevant outcomes.
Real-time, two-way data sharing so consumer experience and enterprise servicing systems are always linked.
CARE features borrowers love include: Modern experience from any device, making payments in seconds, easily making complex and multi-source payments, fast forbearance and loan mod requests with pre-populated forms, consumer-friendly decisioning results for clear hardship resolution and real-time access to human help.
CARE features servicers love include: Easily configurable to custom policies, procedures, customer experience; ability to brand CARE as their own; mobile-first, omni-channel design; real-time data sharing with servicing and default systems of record; supports complex mortgage and non-mortgage loans; powers centralized CSR teams or distributed branches and sub-servicers with same UX as (and co-piloting for) consumers.
Real-time configure for real-time compliance: Sagent CARE, as well as Sagent’s servicing and default systems of record, LoanServ and Tempo, are fully configurable at the most granular level, ensuring servicers maintain real-time compliance with real-time market and regulatory changes. This is especially critical — and battle tested — in today’s COVID recovery era where regulator, GSE and Wall Street rules and regulations change in real-time.
Product Snapshot: CARE is Sagent’s consumer platform that links a modern, bank-on-your-phone experience for borrowers with seamless human care from servicers. Borrowers can manage payments and escrows, plus monitor home equity, new offers and tax matters. They can also act fast and resolve hardships.