LendingHome, one of the nation’s largest lenders to real estate investors, announced a $75 million Series E round as well as the appointment of Michael Bourque as chief executive officer. Benefit Street Partners, a credit-focused alternative asset management firm, led the fundraising round.
Bourque will assume day-to-day leadership of the company and will also join LendingHome’s board. Bourque, a financial markets veteran, has served as LendingHome’s chief operating officer and chief financial officer since he joined the company in August 2018. Matt Humphrey, LendingHome’s co-founder, has stepped down from his role as CEO and will continue to serve on the board. In addition, Richard Byrne, President of Benefit Street Partners, will join the Board of Directors. The funding and executive moves will drive all aspects of the business to sustain an aggressive pace of growth, deliver continued profitability, and accelerate the company’s rapidly expanding leadership in the real estate investment market.
Bourque brings nearly 20 years of executive experience to the table. At General Electric, Bourque served in leadership positions in finance, audit, and financial planning roles, spanning various industrial manufacturing and financial services businesses. Prior to LendingHome, he served as the CFO of publicly-traded mortgage servicer Ocwen Financial Corporation, which at the time was an organization of more than 10,000 employees.
