Creditors seek $1.35M from Sprout by filing Chapter 7 petition in New York court.
Deal would compensate former employees left unpaid when lender abruptly closed July 6.
Michael Strauss and his new company requested an administrative hearing, keeping his license active for now.
Shea Pallante, who told Sprout employees the company was closing via a conference call last July, is Arc's new chief production officer.
Has formed new company called Smart Rate Mortgage, based in Florida.
Claims Non-QM lender, servicer owe the bank more than $3.5 million
Can Non-QM lenders find funding?