Non-QM residential lending specialist Sprout Mortgage says December 2019 was its best-ever month, closing more than $268 million in loans.
The company’s loan volume totaled $2.78 billion for calendar-year 2019, up 89% from 2018.
“Non-QM mortgages are an increasingly vital and growing part of today’s residential finance landscape, as consumers, investors and the professionals who serve them demand flexible, customized and readily accessible capital solutions,” says Michael Strauss, president of Sprout Mortgage.
“I am proud that Sprout has been able to serve its borrowers while maintaining a strong control environment that consistently produces high-quality loans that are rigorously underwritten,” he adds.
Sprout’s loan programs and products are designed to provide lenders with a range of solutions to solve a wide variety of borrower needs for homeownership. Programs include alternative qualification, near-prime, super jumbo, moderate credit and real estate investor loans.
Sprout notes that in 2019, it added more than 50 sales professionals, expanded its capital markets and servicing teams, hired more than 50 underwriting and credit-quality staff, and launched its proprietary AUS tool (ACORN) and program qualification and pricing tool (iQualifi).