Michael Strauss, Smart Rate licenses suspended in Illinois
A regulator in Illinois has suspended the licenses for industry veteran Michael Strauss and his mortgage company, Smart Rate Mortgage.
Source: housingwire.com
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Ex-Sprout CEO's originator licenses suspended
Michael Strauss and his previous lending company still face four federal lawsuits from creditors and laid off workers seeking backpay.
Source: nationalmortgagenews.com
Sprout Mortgage reportedly in settlement talks with laid off employees
An executive at the firm also signed a $475,000 judgment against it from another mortgage player, although a federal judge has yet to sign off on the agreement.
Source: nationalmortgagenews.com
Did Michael Strauss, accused of fraud, just start a new mortgage company?
After abruptly shutting down Sprout Mortgage and being accused of fraud, Strauss and his wife are linked to a new mortgage entity, Smart Rate Mortgage, LLC.
Source: housingwire.com