May 16, 2021

MP Now News

Mortgage News

Sprout Mortgage shakes up executive suite

Non-QM legend Sprout mortgage has brought InfosysChief Information Officer and Global Director for Real Estate Finance Solutions, Henry SantosThe company announced on Tuesday as its own CIO and Executive Vice President.

Santos was with Infosys for two years prior to his last appointment and previously served as a North American credit manager for IBM. Santos also held various financial and managerial roles Fidelity National Information Systems, Capco and Accenture over the years.

According to Sprout Mortgage, Santos will be responsible for the strategy, execution and performance of the company’s enterprise technology and will work on digitizing and modernizing Sprout’s lending capacity.

After the company put a brief freeze on its non-QM loans around this time last year, Sprout unveiled a number of loans new products for the non-QM program, Resumption of correspondence credits and is now riddling its Executive Suite in 2021.

“I am thrilled to have Henry join our team of senior executives to advance our mission of continuous technological innovation and strengthen our position as a pre-eminent provider of non-QM residential loans across the country,” said Michael Strauss, CEO of Sprout Mortgage. “Sprout is fortunate to have a person with Henry’s skills, a proven track record and a history of innovation among its executives.”

Since the company took a hiatus from its non-QM lending around this time last year, Sprout has had a number of new products for the non-QM program, Resumption of correspondence credits and is now riddling its Executive Suite in 2021.

The lender announced on Monday that he would be chief legal officer and general counsel First Guarantee Mortgage CorporationLaura LaRaia as Executive Vice President, General Counsel and Chief Compliance Officer. LaRaia has been in the industry for over 20 years and was previously Chief Compliance Officer / Deputy General Counsel at Highest lending. In her new role, LaRaia will oversee all legal and regulatory compliance functions.

“As the Sprout mortgage continues to grow, I’m confident that Shea [Pallante, President of Sprout Mortgage] and I – working with the entire Sprout team across the country – will make Sprout the industry leader in delivering service and value to our customers while providing high quality credit, ”said Strauss upon his appointment.