Former Clayton President Jeff Tennyson has found a new home.
Last year, Tennyson’s role as president of Clayton was eliminated as part of Radian Group’s restructuring of its principal subsidiary Clayton, which provides loan due diligence, surveillance, REO management, consulting, valuation, title and settlement services to the mortgage industry.
The restructuring, which included jettisoning Tennyson as president of both Radian’s services business and Clayton, was in response to Clayton’s “recent underperformance below expectations.”
Now, just a few months after leaving Clayton, Tennyson is moving on to a senior leadership role at Lima One Capital.
Lima One, a lender that focus on providing financing for investors, announced Monday that it selected Tennyson to serve as the company’s new CEO.
Tennyson will succeed Lima One Founder and current CEO John Warren, who will remain with the company as chairman and focus on leading the strategic growth of the company.
“We have had tremendous growth and success at Lima One Capital. I am very proud of our associates that have worked so hard to make us the nation's premier lender for real estate investors and I am proud that we have done it headquartered in South Carolina,” Warren said.
“I have decided to focus on more strategic growth opportunities for our company and have brought on an experienced lending executive to take Lima One to new levels of growth and success,” Warren added. “Jeff’s experience and leadership in mortgage lending and his success in growing financial services businesses provide Lima One with a perfect background for our next CEO.”
Tennyson took over as president of Clayton in March 2016, following the departure of Joe D’Urso. Tennyson joined Clayton in February 2015, initially serving as chief operating officer.
Tennyson joined Clayton from B2R Finance, where he was chief operating officer. Earlier in his career, he served as the chairman and CEO of Strategic Lending Group and chairman and CEO of EquiFirst Corporation.
And now, Tennyson is taking over at Lima One, which offers several different lending programs: a 30-year, fixed-rate, fully amortizing loan for landlords purchasing or refinancing residential rental properties; a 13-month bridge loan for investors who are buying and rehabilitating properties; and a multifamily program for the purchase or refinance of 5+ unit fix-and-flip properties.
“I am honored to have been selected by John and the board to follow him as CEO of Lima One Capital,” Tennyson said. “John and his team have built a terrific company with innovative lending products and best-in-class service assisting real estate investors across the nation. I am very impressed with our people, the management team, the lending platform, and the bright future of Lima One Capital.”