Sprout Mortgage, a national non-QM residential lending company, announced that Michael Strauss has been named to the newly created role of CEO, from his previous role as President, and that Shea Pallante has been appointed President. Pallante currently serves as Chief Production Officer at Sprout.
"As Sprout Mortgage continues to grow, I am confident that Shea and I—working together with the entire Sprout team nationwide—will make Sprout the industry leader in providing service and value to our customers while producing high-quality loans,” said Strauss. "Together we will strive to make Sprout a great place to work."
Pallante joined Sprout in 2016 and has helped the company achieve tremendous growth. Throughout his career in financial services, Pallante has focused on the mortgage vertical and has extensive experience in wholesale and correspondent mortgage lending. Prior to Sprout, he was a Managing Director at Civic Financial Services Inc. Pallante holds a bachelor’s degree in Labor Law from Penn State University.
Sprout Mortgage's innovative products, powerful technology, and precision underwriting provide tailored lending solutions for residential real estate investors, self-employed borrowers, and those with recent credit events. Sprout provides modern lending solutions to help a broad range of consumers and the brokers and lenders who serve them.