Bringing a Human Touch with Data Science Sovereign Lending Group, Incorporated

The mortgage industry is one of those industries that are really hard to understand. Years ago in the US, buying a home was a much different process compared to today’s scenario. When banks first started making home mortgage loans, a purchaser would typically have to make a large down payment and accept a loan that had a balloon payment due after a very short term. Consumers faced a lot of issues in availing a home mortgage in America, which later affected the financial situations of the consumers.

The American Dream is waiting to be unlocked. Hardworking, honest people earning a living and seeking the chance to truly own their destinies. Due to a myriad of complications, living the dream can sometimes feel like a nightmare.

In 2005 two brilliant minds, Joe Pirro and Dan Holtz, founded Sovereign Lending Group (SLG). They came together shortly after graduating from University of Southern California to change the way consumers obtained home mortgage. They felt the need for a better way for consumers to have a unique, personalized and streamlined experience. Sovereign Lending Group has a passion for helping American families realize their dreams of homeownership, Joe and Dan worked to enable SLG to make the maximum impact, and this is where Tech 1came into play.

Tech 1 is a proprietary communication technology platform that ensures a smoother, more human loan experience by automating a minimum of 30% of the loan communication and data input processes, allowing employees to devote more time to service. The company has invested millions of dollars into developing Tech 1 and it is changing the mortgage industry.

The success story of Tech 1

As a first project roll-on, Tech 1 was a high-touch customer experience process. Tech 1 gave borrowers a new and best financial option. The use of Tech 1 fast tracked the process for a quick close on loans.

Tech 1 is a sheer success and the reviews are overwhelmingly positive. Customer reviews are over 97% positive and only getting better. The positive feedback from customers is what drives Sovereign Lending Group to help more homeowners. The team loves hearing stories from its borrowers about how the company was able to help them lower their payments or help to make upgrades to their homes using cash out. 

“It’s all about helping people live their dream. The main driver of the customer satisfaction is through the technology implemented by the Tech 1 system”

After graduation in the early 2000’s Joe and Dan worked for another technology focused mortgage company and gathered knowledge. With the development of SLG’s Tech 1, the best communication platform they are now able to bring more hardworking Americans homeownership. Tech 1 has brought a best in class solution to the mortgage industry, and SLG’s peers are taking notice.

Today, Sovereign Lending Group offers mortgage solutions in 43 states across the US. The outstanding IT team continuously improves the technology of Tech 1 and it has allowed the company to bring new mortgage loan products to the market.

Overcoming challenges

The 2008 great recession was a trigger factor for SLG, and it actually shaped the company’s road map. The recession was a disruption in the market that created an opportunity for a well-prepared company to expand and grow.

But, like many other company, Sovereign Lending Group faced challenges in its early stages. Lack of capital was one of the major challenges. The company had no outside investment and funded its growth entirely with retained earnings.

SLG believes that stamina, persistence, and an understanding of the end goal is very important to keep a company standing tall.

“You will be knocked down many times through your journey. The ability to get up and press on is what separates the winner from the losers.”

Founded by millennials, Sovereign Lending Group always desires to help as many hard-working Americans as possible. The technology of the Tech 1 system, the talented executive team who focus on growth and technology improvement, and the teams understanding of the changing technological environment are some of the biggest assets of the company.

The structure of SLG is flat with only three layers - Leaders (owners), Team leads (managers), and Teammates (employees). This structure allows for the best form of collaboration and communication. Sovereign Lending Group has 90 team members and in the next 16 months the number is expected to hit 150.

On the track of leading the industry

SLG is always driven by the motive of helping hardworking Americans such as veterans with homeownership. The 36 dots in the company’s logo is the numerology for helping humankind. Sovereign Lending Group leaders see themselves moving in the direction of being a successful company working for humankind. Using its technology and taking business from its competition, SLG is set to be the leader in the mortgage industry.

The personalities behind SLG’s success

Joseph Pirro is the CEO & founder of Sovereign Lending Group Inc. He is an industry leader known for his strong mortgage operations background and his thorough knowledge of the mortgage process. Joseph graduated from the University of Southern California with a Bachelor’s of Science in Accounting. He has a passion for technology and innovation. Joe is dedicated to upholding and preserving the American Dream of home ownership for all hard-working American’s.

Dan Holtz is the founder of Sovereign Lending Group, Inc. Dan has a MBA from the Paul Merge School of Business at UC, Irvine and he holds a Bachelor’s of Science in Business Administration from the Marshall School of Business at University of Southern California. He enjoys his time volunteering and he sits on the Board of the Council on Aging Southern California, a 501©3 nonprofit.

"Tech 1 is a proprietary communication technology platform that ensures a smoother, more human loan experience by automating a minimum of 30% of the loan communication and data input processes, allowing employees to devote more time to service."