Sagent, a fintech software company modernizing mortgage and consumer loan servicing for America’s top banks and lenders, today announced two major strategic deals with digital lending and payments disruptor, Figure. Sagent will power Figure’s mortgage servicing as it aggressively grows mortgage market share, and the firms will partner to accelerate Figure’s transformative blockchain vision.

“Together, we will reinvent the consumer mortgage servicing experience with Figure’s innovation speed and Sagent’s servicing depth,” said Figure co-founder and CEO Mike Cagney. “We’ll also begin bringing scale mortgage assets onto the Provenance Blockchain to reduce mortgage industry costs by up to 100 basis points from origination through securitization.”

The deal follows Figure’s $200m series D fundraise and announced merger with $25 billion/year mortgage originator Homebridge – the first in a series of Figure mortgage growth moves – and does a few things:

“Partnering with Figure not only adds a hyper-growth mortgage player as a Sagent customer, it also lets Sagent innovate faster than ever for all customers on our three major performing, non-performing, and consumer platforms,” said Sagent CEO and President Dan Sogorka. “Sagent is the only major industry platform prioritizing modernization over margins, and this deal rapidly accelerates our execution on rewiring banks and lenders for the agility and speed required in the fintech age.”

Sagent and Figure will lead loan servicing modernization by powering borrowers to manage their entire home and loan lifecycle from their phone, and powering servicers to manage every performing and nonperforming loan detail for consumers, regulators, investors, and partners.

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