Sprout names president Michael Strauss as CEO

Sprout Mortgage, the leading nationwide force in non-QM residential lending, today announced that effective immediately Michael Strauss has been named to the newly created role of Chief Executive Officer, from his previous role as President, and that Shea Pallante has been appointed President. Pallante currently serves as Chief Production Officer at Sprout.

“As Sprout Mortgage continues to grow, I am confident that Shea and I – working together with the entire Sprout team nationwide — will make Sprout the industry leader in providing service and value to our customers while producing high-quality loans,” said Mr. Strauss. “Together we will strive to make Sprout a great place to work.”

Pallante joined Sprout in 2016 and has helped the company achieve tremendous growth. Throughout his career in financial services, Pallante has focused on the mortgage vertical and has extensive experience in wholesale and correspondent mortgage lending. Prior to Sprout, he was a Managing Director at Civic Financial Services Inc.

Pallante holds a bachelor’s degree in Labor Law from Penn State University.