Sprout Mortgage to Shutter

HousingWire, July 6, 2022–James Kleimann
The closure of Long Island-based Sprout, headed by industry veteran Michael Strauss, represents the second non-QM mortgage lender to close in recent weeks amid historic volatility. First Guaranty Mortgage Company, controlled by asset management giant PIMCO, abruptly stopped operations less than two weeks ago.