EAST MEADOW, NY, FEBRUARY 17, 2021 -- 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.

Lenders can now accelerate title decisions, digital title delivery and close more refinance loans faster with less complexity

PITTSBURGH, PA. (January, 26 2021) – Lenders can now receive title complexity decisions within seconds for refinance loans thanks to ServiceLink’s EXOS Express Pass technology integration with Cloudvirga’s Digital Mortgage Platform. This first-of-its kind integration of EXOS within a point-of-sale (POS) platform will enable lenders to expedite title decisions, digital title delivery and close more loans faster.

EXOS empowers lenders to deliver a complete digital mortgage origination experience within one seamless platform. With EXOS Express Pass, lenders can  cut days from their origination timeline by receiving an optimized clear-to-close path within seconds. This enables operators and fulfillment leaders to allocate resources more efficiently, prioritize loans based on complexity and improve consumer transparency by providing access to various parts of the lending process that had previously been offline.

“Last fall, when we embarked on this partnership, we never could have predicted the challenges our industry – and the world – would face only a few short months later,” said Daniel Akiva, co-chief executive officer at Cloudvirga. “2020 brought with it record high originations, historic low mortgage rates and hyper-demand for our lender partners and their businesses. Cloudvirga lenders who leverage EXOS Express Pass will be better equipped to keep pace with this demand and deliver the seamless digital mortgage experience borrowers expect, all while more effectively managing their pipelines.”

Borrowers can benefit from receiving a more definitive clear-to-close timeline early on in the loan process, helping them to better prepare for closing while reducing the risk of delays.

“While the self-service, digital mortgage application process is becoming commonplace in the mortgage industry, the path to close has remained largely unchanged for the past 30 years,” said Kiran Vattem, EVP, chief digital and technology officer at ServiceLink. “New challenges brought on by COVID-19 have put back into focus the importance of streamlining origination processes. With EXOS, we’re focused on driving efficiency and transparency for lenders and borrowers, eliminating guess work and ultimately, driving more closed loans with less effort. Lenders who embrace our technology stand to gain a competitive edge with consumers who crave convenience and ease in the buying experience.”

About EXOS Technologies

 EXOS, a division of ServiceLink, is the leader in providing cloud-based digital technologies to real estate lenders and servicers. EXOS Technologies transform consumers’ digital expectations around the mortgage experience through mobile apps, voice interaction, APIs, Predictive Analytics, and AI. EXOS products include Title, Valuations and Close – extending and enhancing critical consumer digital touchpoints throughout the entire mortgage lending life cycle. EXOS reduces cycle times, improves quality, and enhances a lender’s relationship with their consumer. To learn more about EXOS, please visit exostechnology.com.

About ServiceLink

ServiceLink is the nation's premier provider of digital mortgage services to the mortgage and finance industries. ServiceLink leads the way by delivering best-in-class technologies, a full product suite of services and proven experience, built on a foundation of quality, compliance and service excellence. ServiceLink provides valuation, title and closing, and flood services to mortgage originators; and default valuation, integrated default title services, vendor invoicing and claims audit services, as well as field services and auction services to mortgage servicers. ServiceLink helps clients in the lending industry and beyond achieve their strategic goals, realize greater efficiencies, and better serve their customers. For more information about ServiceLink, please visit svclnk.com.