Sagent and Bizzy Labs have partnered to offer Libretto, an AI-powered engine to assist servicers by automating the compliance process. The companies said Libretto will provide accurate and compliant servicing and MSR (mortgage servicing rights) transfers while also lowering operational costs, reducing compliance risk, increasing loan valuations, and improving the borrower experience, according to a release from Sagent.
“Servicer errors can erode profitability, rattle customers, and lower retention,” David Doyle, Sagent executive vice president of business development, said in a release. “Sagent’s Bizzy Labs partnership ensures servicers get the experience right for their customers and their bottom line.”
“Libretto powers faster, more accurate loan boarding,” the release stated. “From there, Libretto runs your entire portfolio against a comprehensive database of more than 600 business rules sourced directly from clients, regulators, and investors to flag data anomalies.”
These daily portfolio checks can occur on demand, and servicers are able to customize what business rules the program considers. Libretto also assists servicers in identifying and resolving data issues that could generate borrower complaints or compliance risks if left unchecked.
“This new automated compliance engine accelerates Sagent’s consumer-first modernization of mortgage servicing,” Doyle said. “Clean onboarding and continuous portfolio surveillance mean fewer errors and happier customers.”