Verituity is partnering with Sagent to embed its cloud-based payouts platform into Sagent’s servicing solutions.
This will enable servicers to move beyond legacy check-based systems and adopt modern, scalable payment rails that improve efficiency, security, and borrower experience, the companies say in a release.
Through the integration, Sagent’s clients will be able to deliver secure, verified payouts across key refund use cases, including annual escrow analysis refunds and loan payoff overages, directly to borrowers through the banks and rails of their choice.
The solution also extends to supplier and vendor payments, ensuring that all disbursements are accurate, timely, and protected against fraud. And by enabling digital payouts, servicers will minimize escheatment exposure and improve overall compliance by reducing the number of uncashed and returned checks.
“Mortgage servicers have long struggled with the risks and inefficiencies of paper checks,” says Ben Turner, CEO of Verituity. “Our partnership with Sagent gives servicers immediate access to intelligent, verified payouts – reducing fraud, lowering escheatment, ensuring compliance, and streamlining payouts for borrowers and suppliers alike.”
“This partnership underscores the commitment shared by Sagent and Verituity to help mortgage servicers modernize payments, reduce costs, and offer an experience that homeowners enjoy,” adds Perry Hilzendeger, executive vice president of strategic growth at Sagent. “Together, we’re enabling servicers to simplify tech stacks while giving consumers and suppliers the secure, digital payout optionality they now expect.”
Photo: Ross Sneddon