Acra Lending, one of the nation’s top Non-QM residential and real estate investment lenders, has appointed Shawn Stone as its new chief executive officer. He succeeds Keith Lind, who now transitions to chairman of the board.
“From my perspective, this isn’t about a turnaround — far from it,” Stone stated in a release. “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,” he added, “we’ll become the lender of choice for our partners, create meaningful career opportunities for our teammates, and deliver strong results for our investors.”
Stone joins Irvine, Calif.-based Acra after serving as CEO and a board member at LendingPoint, an online loan origination and servicing platform headquartered in Atlanta. He also spent 20 years with Mr. Cooper, most recently as chief revenue and originations officer, and helped scale the company into the nation’s largest home loan servicer.
At Mr. Cooper, Stone held various executive leadership positions across the platform, including founder and president of Xome, the company’s technology-enabled real estate and mortgage services subsidiary. He additionally served as CEO and a board member at Renovate America, a financing company that specializes in providing loans for residential energy and water-efficient home improvements.
All told, Stone has more than 25 years of executive experience in financial services with expertise in mortgage, technology, consumer, and financial businesses, having held leadership roles at organizations across the lending and fintech sectors.
With a record of driving growth, innovation, and operational excellence, Stone will be responsible for leading Acra Lending into its next phase of growth in the Non-QM space, the company noted.
