Former Wells Fargo executive relishes small independent mortgage firm

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“The transition to Sprout Mortgage has been a great experience. There are only a few decision makers in the organization and many of those decisions are made very quickly between President Shi Pallante, CEO Michael Strauss and me, ”he said.

Johnston hinted that flexible decision-making found in small companies was a feature of Sprout that he could use to benefit his new employers. “We will have no problems, of course, early on, associated with being a large company, which means that we are a flatter organization that can also make decisions very quickly for our team and for our clients,” said he is enjoying Sprout’s “Boutique feeling”.

Sprout’s overall business approach, which he called “innovative,” was also cause for celebration. He said, “It’s not just about product design, it’s about performance.”

Despite “scarce supplies,” which Johnston attributed to a decade of housing shortages and recent increases in construction costs, he said the industry is adapting without much difficulty, adding that Sprout is well positioned to take advantage of this advantage. current market trends.

“It is likely that interest rates will start to rise slightly over the next few years compared to the present,” he said. “The market structure will get a little more buying and less refinancing as many homeowners have set rates below 3% or so.

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