Sprout Mortgage: 'The Faucet Just Got Turned Off'
Non-QM lender was doing $380M/month in loan volume, former executive says.
Non-QM lender was doing $380M/month in loan volume, former executive says.
More than 300 employees laid off during a conference call this afternoon.
Employees are upset with the way they were told they're losing their jobs.
Company will layoff, reassign workers from its consumer lending business.
Downturn in housing industry cited; Compass also winding down Modus Technologies Inc.