Banc Of California Sues Sprout Mortgage, Planet Home Lending,
Claims Non-QM lender, servicer owe the bank more than $3.5 million
Claims Non-QM lender, servicer owe the bank more than $3.5 million
Can Non-QM lenders find funding?
Are the troubles at FGMC and Sprout isolated or the beginning of a trend?
Major warehouse lender placing restrictions on funding advances.
Lawsuit seeking class action status names Sprout, CEO, and affiliate Recovco Mortgage Management as defendants.
Michael Strauss abruptly ended negotiations with Citibank on financing that might have kept Sprout open.
Employees thought the company was doing well, only to lose their jobs Wednesday.