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Sprout Mortgage's Overview

Total employees300
HeadquartersEast Meadow
Founded2016

Sprout Mortgage was a nationwide mortgage lender specializing in Non-Qualified Mortgage (non-QM) products, including wholesale, correspondent, and retail channels. Founded in 2016 by Michael Strauss, the company focused on providing loan solutions for borrowers with unique financial profiles not typically served by traditional QM lenders. Sprout Mortgage abruptly ceased all operations on July 6, 2022, citing adverse market conditions and challenges within the mortgage industry.

Where is Sprout Mortgage's Headquarters?

Sprout Mortgage officeSprout Mortgage officeSprout Mortgage officeSprout Mortgage office
*Images sourced via web search. Rights belong to original owners

HQ Function

Served as the primary corporate office, housing executive leadership, operations management, underwriting, technology, and administrative support for its national mortgage lending activities prior to its shutdown in July 2022.

Notable Features:

The facility was a standard corporate office space, likely equipped with modern amenities and infrastructure necessary to support a dynamic financial services company's operational needs.

Work Culture:

Formerly a fast-paced and growth-oriented environment, which is typical for companies in the specialized non-QM mortgage sector. The culture likely emphasized sales performance, underwriting diligence, and adapting to evolving market demands.

HQ Significance:

This headquarters was the command center for a significant entity in the U.S. non-QM mortgage landscape until its sudden closure. The shutdown of this office symbolized the broader challenges facing the mortgage industry in 2022.

Values Reflected in HQ: The choice of a professional corporate office setting aimed to project stability, expertise, and reliability—values crucial for a financial institution. However, its eventual abrupt closure significantly impacted this perception.

Location:

Sprout Mortgage's operations were primarily concentrated within the United States. It functioned as a nationwide lender in the non-QM mortgage sector, offering its products and services to clients and partners across numerous states. The company did not have a significant international operational presence; its focus was on the domestic U.S. mortgage market.

Street Address:

600 East Meadow Avenue

City:

East Meadow

State/Province:

NY

Country:

USA

Sprout Mortgage's Global Presence

Irvine, CA, USA

Address: Specific street address not publicly detailed; formerly a key operational center.

To establish a strong operational presence in the western United States, catering to brokers, correspondent lenders, and retail borrowers in that region and supporting the company's nationwide non-QM lending activities.

Henderson, NV, USA

Address: Specific street address not publicly detailed; formerly an operational site.

To enhance Sprout Mortgage's national operational capacity, provide specialized support, and potentially offer regional redundancy for its mortgage lending services.

Buying Intent Signals for Sprout Mortgage

Highperformr Signals uncover buying intent and give you clear insights to target the right accounts at the right time — helping your sales, marketing, and GTM teams close more deals, faster.

Notable news
Hiring actively
Corporate Finance
Corporate Finance
Corporate Finance
Corporate Finance
Corporate Finance
*Example signal, not calculated in real time

Executive Team of Sprout Mortgage

As of April 2025, Sprout Mortgage' leadership includes:

Michael Strauss - Founder & Chief Executive Officer
Shea Pallante - President
Nicholas Imbimbo - Chief Operating Officer
David P. Stine - EVP, Chief Strategy Officer

Investors of Sprout Mortgage

Sprout Mortgage has been backed by several prominent investors over the years, including:

Recater LP (Reported as primary owner/investor)

Executive New Hires/Exits in the Last 12 Months

Hire0
Exits4

Sprout Mortgage ceased all operations in July 2022. This event led to the departure of its entire executive team and workforce. Consequently, there have been no executive hires in the past 12 months as the company is no longer active. The 'exits' listed below reflect key leadership departures concurrent with the company's closure.

Departures

Michael Strauss, Departed as CEO following the abrupt closure of Sprout Mortgage.
Shea Pallante, Departed as President when Sprout Mortgage ceased operations.
Nicholas Imbimbo, Departed as COO due to the company's shutdown.
David P. Stine, Departed as EVP, Chief Strategy Officer, with the closure of Sprout Mortgage.

Technology (Tech Stack) used by Sprout Mortgage

Discover the tools Sprout Mortgage uses. Highperformr reveals the technologies powering your target accounts — helping your sales, marketing, and GTM teams prioritize smarter and close faster.

Sprout Mortgage Email Formats and Examples

Prior to its closure in July 2022, Sprout Mortgage utilized corporate email addresses primarily associated with the gosprout.com domain. Common formats included first initial followed by last name, or first name separated from last name by a period.

[first_initial][last]@gosprout.com (e.g., jsmith@gosprout.com) and [first].[last]@gosprout.com (e.g., jane.doe@gosprout.com)

Format

mstrauss@gosprout.com (example based on a common format for the former CEO)

Example

0 (Company is defunct and email domain is inactive. Historically, such formats typically had a 70-85% deliverability success rate for active companies.)%

Success rate

News and media

HousingWireJuly 6, 2022

Sprout Mortgage shuts down, effective immediately

Non-QM lender Sprout Mortgage abruptly ceased operations on July 6, 2022, laying off its workforce, estimated to be over 300 employees. The company's leadership cited 'insurmountable' challenges in the prevailing mortgage market as the reason for the shutdown....more

National Mortgage NewsJuly 7, 2022

Sprout Mortgage shuts down, lays off staff

Sprout Mortgage, a significant wholesale and correspondent lender in the non-qualified mortgage space, confirmed its closure. The company, owned by Recater LP, attributed the decision to difficult market conditions and interest rate volatility, leading to substantial job losses....more

Mortgage Professional AmericaJuly 8, 2022

Sprout Mortgage CEO breaks silence on company's closure

Following the abrupt shutdown of Sprout Mortgage, CEO Michael Strauss commented on the 'heartbreaking' decision, attributing it to the rapid downturn in the mortgage market and the inability to secure necessary capital or a buyer for the company....more

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