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Allegations Of Fraud Surround Sprout Mortgage Bankruptcy

Court filing reveals millions diverted to Strauss and family, trustee pursues legal action to prevent further misappropriation.

Feb 22, 2024
Former Sprout Employees Get Caught In The Middle

As legal complexities intensify following Sprout Mortgage's shutdown, a U.S. Bankruptcy Judge intervenes, halting settlement funds and escalating legal actions against former executives.

Dec 13, 2023
Involuntary Bankruptcy Petition Halts Sprout Settlement

Creditors seek $1.35M from Sprout by filing Chapter 7 petition in New York court.

Jul 18, 2023
Sprout Agrees To Settle Lawsuits Over Unpaid Wages For $3.5M

Deal would compensate former employees left unpaid when lender abruptly closed July 6.

Jun 07, 2023
Former Sprout CEO Appeals Illinois License Suspension

Michael Strauss and his new company requested an administrative hearing, keeping his license active for now.

Apr 07, 2023
Non-QM Lender Arc Home Hires Former Sprout President

Shea Pallante, who told Sprout employees the company was closing via a conference call last July, is Arc's new chief production officer.

Mar 20, 2023
DealDesk Focus: Non-QM solutions for Investment Properties

Do you have clients looking to expand their investment property portfolio? Help them finance their Real Estate...

Dec 02, 2020