Sagent names Geno Paluso as new CEO

The change in the top ranks at mortgage servicing technology company Sagent continued, as CEO Dan Sogorka stepped aside and Eugene “Geno” Paluso took over, effective on Feb. 12.

Sogorka will remain with the company as an advisor until moving to a new opportunity, a press release said.

Paluso is joining Sagent as it plans to roll out what it called the first cloud-native mortgage servicing platform, details of which will be revealed at the Mortgage Bankers Association’s Servicing Solutions Conference on Feb. 20.

“Building the future of mortgage servicing with all of you has been a privilege, and I couldn’t be prouder that the Sagent brand has become synonymous with mortgage modernization,” Sogorka said in a LinkedIn post announcing the change. 

Paluso is a retired U.S. Navy captain and also served as Commandant of Cadets at The Citadel, and most recently, was the vice president of business development at BAE Systems.

“Geno Paluso was one of the finest SEAL officers I ever served with in my career,” said Retired Admiral William McRaven in a press release.  “He is a remarkable leader who has earned the respect of everyone who ever followed him.”

Paluso’s hiring comes weeks after Sagent named Chris Marshall, the former president at Mr. Cooper, as its executive chairman.

“Geno Paluso is a visionary who gets the details and the ideal leader to operationalize the first-ever end-to-end loan servicing software platform,” Marshall said in the press release.

Mr. Cooper is an investor in Sagent, taking a 20% stake in the firm two years ago, along with providing its own servicing technology to be used to help develop the new platform. 

“Geno brings a track record of strong operational discipline to Sagent as it enters its next phase in delivering the future of mortgage servicing,” Frank Bisignano, chairman, president and CEO of Fiserv, which also owns a stake in Sagent, said in the press release. “His impressive background and focus on operational excellence will complement Sagent’s industry leading technology and deep commitment to customer satisfaction.”

Sogorka became CEO and president of Sagent in March 2020, after previously being the CEO of Cloudvirga, and prior to that president of Exos Technologies, which was a part of Servicelink.

He was also at Black Knight for 14 years, serving as one of business unit presidents.

In the LinkedIn post, Sogorka said “As for me, it’s time to look at my next adventure after having the opportunity to lead companies and teams across every major area of mortgage and housing.”