Non-QM lender Acra Lending announced on Monday the appointment of Shawn Stone as chief executive officer. Stone succeeds Keith Lind, who transitions to Chairman of the Board.
Stone, who brings over 25 years of executive experience in financial services to the role, most recently was CEO and board member at LendingPoint, an Atlanta-based online loan origination and servicing platform.
Stone spent 20 years at Mr. Cooper, where he most recently served as chief revenue and originations Officer. He also held numerous executive leadership positions across the entire platform, including founder and president of Xome, its technology-enabled real estate and mortgage services subsidiary.
He also served as CEO and board member at Renovate America, a POS, ESG and home improvement fintech lender.
“I’m really excited to be here,” said Stone. “From my perspective, this isn’t about a turnaround — far from it. The team has built something truly special. My role now is to assess our strategy, work closely with our team and our board, and focus on accelerating our growth in the near term. If we do that, we’ll become the lender of choice for our partners, create meaningful career opportunities for our teammates, and deliver strong results for our investors.”
Acra Lending specializes in non-QM loans to those not well-served by traditional mortgage loans, including entrepreneurs, investors, high-income earners and young adults who thrive in the gig economy. These borrowers are driving a demand for alternative mortgage products.
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