Online lender LendingPoint names a new CEO

LendingPoint has a new CEO.

The Atlanta-based online loan origination and servicing platform said Wednesday that Shawn Stone would take over from interim Chief Executive Mark Lorimer, who has been in the role since Tom Burnside stepped down in December.

Stone has more than 25 years of experience in online loan origination, loan servicing operations, credit and capital markets.

"I am honored to join LendingPoint," Stone said in a press release. "I previously had the opportunity to work with LendingPoint as a lending partner and was impressed with their fintech lending platform, customer-centric culture and operational excellence."

Stone most recently served as senior adviser for Bayview Asset Management, an investment management firm focused on mortgage and consumer credit. He also spent more than 20 years at home loan servicer Mr. Cooper in two stints, with stops in between at home improvement lender Renovate America and residential mortgage holding company Global Mortgage Capital. His roles at Mr. Cooper included chief revenue and production officer and executive founder and president of Xome, a real estate and mortgage services subsidiary. 

Stone's relationship with LendingPoint dates back to his days as CEO of Renovate America. LendingPoint was one of Renovate America's lending partners for customers seeking financing for home improvement projects. Renovate America filed for bankruptcy in December 2020. Its home improvement financing product, known as Benji, was later acquired by Finance of America Mortgage, a subsidiary of lending and services platform Finance of America Equity Capital.