Introduction
Sprout Mortgage is a well-known mortgage lender in the United States, specializing in providing non-QM (non-qualified mortgage) loans to borrowers who may not meet the strict requirements of traditional lenders. When it comes to the ownership of Sprout Mortgage, it is important to understand the key players and stakeholders involved in the company.
The Founders and Management Team
Sprout Mortgage was founded in 2013 by Michael Strauss, William Fisher, and Steve Curry. Michael Strauss, who serves as the company’s CEO, has extensive experience in the mortgage industry, having previously co-founded another successful mortgage company. William Fisher, the President of Sprout Mortgage, has a background in finance and has held leadership positions in various mortgage companies. Steve Curry, the Executive Vice President, brings his expertise in sales and marketing to the company.
Ownership Structure
As of the time of writing, Sprout Mortgage is privately held, and the ownership structure is not publicly disclosed. However, it is known that the company has received investments from various sources, including private equity firms and institutional investors. These investors provide the necessary capital to support Sprout Mortgage’s operations and growth.
Investors and Partnerships
Sprout Mortgage has established partnerships with several investors and lenders to expand its reach and offer a wider range of mortgage products. One of the notable investors is Atalaya Capital Management, a leading alternative investment advisory firm. Atalaya has provided significant funding to Sprout Mortgage, enabling the company to originate and service a larger volume of loans.
Additionally, Sprout Mortgage has partnered with other mortgage lenders and financial institutions to offer co-branded loan programs. These partnerships allow Sprout Mortgage to leverage the expertise and resources of its partners while providing borrowers with customized mortgage solutions.
Regulatory Compliance
As a mortgage lender, Sprout Mortgage operates under the regulatory framework set by federal and state authorities. The company adheres to the guidelines and requirements established by the Consumer Financial Protection Bureau (CFPB) and other regulatory bodies to ensure compliance with mortgage lending laws.
Sprout Mortgage focuses on non-QM loans, which are mortgages that do not meet the qualified mortgage standards set by the CFPB. These loans are designed for borrowers who may have unique financial circumstances or do not meet the strict income or credit requirements of traditional mortgage lenders. Sprout Mortgage carefully evaluates borrowers’ ability to repay the loans and follows responsible lending practices.
Conclusion
While the exact ownership structure of Sprout Mortgage is not publicly disclosed, the company has received investments from private equity firms and institutional investors. The founders and management team play a crucial role in leading the company’s operations and growth. Sprout Mortgage has also established partnerships with investors and lenders to expand its mortgage offerings and provide borrowers with customized solutions. The company operates within the regulatory framework set by federal and state authorities to ensure compliance with mortgage lending laws.
References
– Atalaya Capital Management: atalayacap.com
– Consumer Financial Protection Bureau: consumerfinance.gov
