Sprout Names Michael Johnston To New Position As Head Of Distributed Retail
OUTLINES GROWTH IN DIRECT-TO-CONSUMER, STANDALONE DISTRIBUTION, JOINT VENTURES
EAST MEADOW, N.Y., June 15, 2021 /PRNewswire/ -- Sprout Mortgage, the innovative force in non-QM residential lending, today announced the appointment of Michael R. Johnston to the newly created position of Head of Distributed Retail, effective immediately. The long-time Wells Fargo home mortgage executive will play a key role in expanding Sprout's consumer and retail sales channel, reporting to Sprout President Shea Pallante.
"We are excited to welcome Michael to the Sprout leadership team," said Mr. Pallante. "Michael will help drive our commitment to significantly build out Sprout's retail sales channel through direct-to-consumer outreach, brick-and-mortar retail facilities, and strategic joint ventures -- all designed to help Sprout better serve our end-user clients with high-quality financial solutions for home ownership and investment properties."
"Sprout is the most innovative and exciting platform in the non-QM residential mortgage industry and I'm proud to be part of the company's ongoing growth as we bring the Sprout brand, sterling reputation, and client-focused mortgage solutions to a nationwide audience," said Mr. Johnston.
About Michael R. Johnston
Based in Miami, Michael comes to Sprout after a two-decade-plus career at Wells Fargo in home mortgages. Most recently, he was Southeast Division Manager, leading a team of 800 to drive market share, boost profitability, and expand the enterprise customer base. Prior to that, he served as Wells Fargo Vice President – Regional Sales Manager, in Miami and Philadelphia regions.
Prior to Wells Fargo, Michael was a Sales Manager for PNC Bank in Princeton, NJ.
Michael holds a Bachelor's degree in Liberal Arts from the University of Connecticut.
Growing the Retail Channel at Sprout
Founded in 2016, Sprout Mortgage today is a leader and innovator in the non-QM residential loan market. Its three-pronged market strategy focuses on distributing high-quality mortgage solutions to residential buyers via wholesale mortgage brokers, correspondent channel bankers, and retail sales. Sprout is targeting growth in the retail channel through increased direct sales to consumers and residential investors, dedicated retail facilities, and co-location of Sprout specialists with joint venture partners.
About Sprout Mortgage
Sprout Mortgage is a leading nationwide non-QM lender whose innovative products, powerful technology, and precision underwriting provide tailored lending solutions for residential real estate investors, self-employed borrowers, and those with recent credit events. Sprout provides modern lending solutions to help a broad range of consumers and the brokers and lenders who serve them. For more information, visit https://www.sproutmortgage.com or call 844-664-6100.
CONTACT:
Thomas Walek
Peaks Strategies
[email protected]
917-353-7575
SOURCE Sprout Mortgage
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