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.
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.
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.
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.
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.
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.
600 East Meadow Avenue
East Meadow
NY
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.
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.
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.
As of April 2025, Sprout Mortgage' leadership includes:
Sprout Mortgage has been backed by several prominent investors over the years, including:
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.
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.
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
HousingWire • July 6, 2022
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 News • July 7, 2022
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 America • July 8, 2022
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
See where a company’s workforce is located, by country or region.
View past and recent funding rounds with amounts and investors.
Understand company revenue estimates and financial scale.
Track active roles and hiring trends to spot growth signals.
Discover what a company offers—products, platforms, and solutions.
Get the company’s official SIC and NAICS classifications.
Analyze visitor volume, engagement, and top traffic sources.
Explore LinkedIn, Twitter, and other active social profiles.
Identify top competitors based on similar business traits.
Explore companies in depth — from the tech they use to recent funding, hiring trends, and buyer signals — all in one powerful view.
Highperformr AI helps you surface the right accounts and enrich your CRM with verified company and contact insights, so your teams can prioritize and engage faster.
Thousands of companies, including Sprout Mortgage, are just a search away.