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August 2023 ยป thefivestar.com 31 August 2023 I N D U S T R Y U P D A T E a new home after completing the multiyear program. Ally's initial $50,000 grant, which went toward building the program expands on its $25 million investment in SoLa's Black Impact OZ Fund, a fund administered by SoLa Impact, a leading Black-led developer of affordable and workforce housing. Ally Bank's Community Reinvestment Act (CRA) efforts deploy approximately $1 billion in loans and investments annually around affordable housing. These activities include loans to intermediaries and equity in- vestments in projects funded under the fed- eral low-income housing tax credit (LIHTC) program. Ally recently invested $15 million in Enterprise's Equitable Upward Mobility Fund, a $190 million fund designed specif- ically to support economic mobility with a focus on racial equity. Many of these projects span outside of Ally's hometowns and into areas such as Utah, Arizona, California, Col- orado, Idaho, Montana, New Mexico, Nevada, Oregon, Washington, and Wyoming. These initiatives complement Ally's exist- ing relationships with organizations focused on homeownership like Homewise and ROC USA Capital, and nonprofits like Habitat for Humanity. Ally's giving strategy supports affordable housing, financial education, and workforce development to address the wealth gap and barriers to economic mobility. BSI FINANCIAL EXTENDS SAGENT SOFTWARE PARTNERSHIP SEVEN YEARS S agent, a Warburg Pincus-backed fintech software company moderniz- ing mortgage servicing for banks and lenders, has announced a seven-year partner- ship extension with BSI Financial Services to continue powering its enterprise mortgage servicing ecosystem. As BSI Financial rapidly grows its servicing portfolio to a goal of 1 million loans, it will continue to leverage the industry's only enterprise and default servic- ing platforms synced by real-time data. "Renewing our Sagent partnership is a key part of our goal to grow to 1 million loans with operational precision and cost control," BSI Financial Founder and CEO Gagan Sharma said. "We're firmly committed to promot- ing sustainable homeownership for every borrower, and Sagent enables us to provide proactive, informed customer service to borrowers throughout their homeownership lifecycles." BSI Financial will continue to power scale servicing operations with Sagent's con- figurable, cloud-based platforms, including LoanServ (system of record), TEMPO (de- fault management), Datascape+ (cloud-based data reporting and insights), and LoanBoard (originations-to-servicing onboarding). "BSI Financial has earned its reputation as a leader in clean, day-one-compliant onboarding and an AI-led approach that en- sures data integrity and compliance in their own $50 billion portfolio and in their clients' portfolios, and Sagent is honored to continue powering this industry-best experience," said Dan Sogorka, CEO and President of Sagent. "BSI and Sagent have worked together to automate complex high-volume tasks for BSI, solve customer issues fast, and adapt in real-time to regulator and investor needs. Collaborative partnerships like this guide Sagent's roadmap for the future of servicing and help us to set the mortgage fintech pace with our cloud-native, open-API servicing platforms." With over $2 trillion in outstanding mort- gage balances on its platforms, Sagent and its customers collaborate on open-API models that ensure servicing operations are aligned with cost control, optionality, and real-time policymaking. Sagent has the industry's only enterprise, default, and consumer mortgage servicing platforms synced by real-time data. This is the latest in a series of Sagent moves to transform the homeowner experience for fi- nancial orgs servicing millions of consumers with trillions in mortgage balances.