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Sprout Mortgage shakes up executive suite

Non-QM lender adds new chief information and chief compliance officers

Non-QM lender Sprout Mortgage has brought on Infosys‘s chief information officer and global director of real estate finance solutions, Henry Santos, as its own CIO and executive vice president, the company announced Tuesday.

Santos had served at Infosys for two years before his latest appointment, and previously served as the North American lending executive for IBM. Santos also held various financial and executive roles at Fidelity National Information Systems, Capco and Accenture over the years.

According to Sprout Mortgage, Santos will be in charge of strategy, execution and performance of the company’s enterprise technology and will work to digitize and modernize Sprout’s lending capacity.

After the company took a short freeze on its non-QM lending this time last year, Sprout has unveiled a series of new products for it non-QM program, resumed correspondent lending and is now shaking up its executive suite in 2021.

“I’m excited about Henry joining our team of senior leaders to advance our mission of continued technological innovation and strengthen our position as the preeminent provider of non-QM residential lending nationwide,” said Michael Strauss, CEO of Sprout Mortgage. “Sprout is fortunate to have a person with Henry’s skill, proven track record, and history of innovation among its leaders.”

Since the company pressed pause on its non-QM lending this time last year, Sprout has unveiled a series of new products for it non-QM program, resumed correspondent lending and is now shaking up its executive suite in 2021.

The lender announced Monday it brought on chief legal officer and general counsel at First Guaranty Mortgage Corporation, Laura LaRaia, as its executive vice president, general counsel and chief compliance officer. LaRaia has been in the industry for over 20 years and was previously the chief compliance officer/deputy general counsel at Supreme Lending. In her new role, LaRaia will oversee all legal and regulatory compliance functions.

“As Sprout Mortgage continues to grow, I am confident that Shea [Pallante, President of Sprout Mortgage] 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 Strauss following his appointment.

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