LendingPoint Appoints Shawn Stone as New CEO Amid Leadership Transition

LendingPoint, a US-based online lender specializing in direct-to-consumer loans, has appointed Shawn Stone as its new CEO and board member. Stone succeeds Mark Lorimer, who had been serving as interim CEO following the departure of co-founder and former CEO Tom Burnside in December.

LendingPoint, founded in 2014 and headquartered in Kennesaw, Georgia, operates an online loan origination and servicing platform focused on consumer lending. To date, the company claims to have originated over $9.5 billion in unsecured consumer loans to more than 700,000 borrowers. These loans are primarily used for home improvements, debt consolidation, and credit card refinancing.

Stone brings over 25 years of expertise in lending and credit operations to his new role, having spent more than two decades at Mr Cooper, the largest home loan servicer in the United States. During his time at Mr Cooper, Stone held various leadership roles, including executive founder and president of the real estate and mortgage services subsidiary Xome, and most recently, chief revenue and product officer.

Before joining LendingPoint, Stone was a senior advisor at Bayview Asset Management, a company with assets totaling $20 billion, where he had been working since March of the previous year.

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