Open Lending Corporation (NASDAQ:LPRO), currently valued at $305 million with its shares trading at $2.58, announced Thursday the appointment of Massimo Monaco as Chief Financial Officer, effective August 18, 2025. According to media, the company is expected to return to profitability this year despite recent challenges.
Monaco brings over 20 years of executive finance leadership experience in residential mortgage lending and financial services. He most recently served as Chief Financial Officer of Arc Home LLC from 2018 to 2025, and previously held the CFO position at American Financial Resources from 2016 to 2018.
Prior to these roles, Monaco worked in various senior finance positions at PHH Corp., formerly a NYSE-listed company that was one of the largest outsourcers of home loans in the United States. He holds an MBA and a Bachelor of Arts from La Salle University.
“Massimo’s extensive background in financial services and mortgage lending paired with his proven ability to develop and execute on the strategic vision of leadership teams make him an excellent addition to Open Lending’s executive management team,” said Jessica Buss, Chief Executive Officer of Open Lending.
Monaco expressed enthusiasm about joining the company, which provides loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders throughout the United States.
Open Lending Corporation, founded over 20 years ago, focuses on enabling financial institutions to create profitable auto loan portfolios. The company made the announcement in a press release statement.
In other recent news, Open Lending Corp reported its first-quarter earnings for 2025, revealing a diluted EPS of $0.01, which surpassed the forecasted $0.0043. Despite the decline in net income and adjusted EBITDA compared to the previous year, the company’s stock experienced a notable increase. The firm has projected that the number of total certified loans for the second quarter of 2025 will range between 25,500 and 27,500, surpassing previous predictions by DA Davidson. DA Davidson has maintained a Buy rating on Open Lending, keeping its price target steady at $4.00. In a recent development, Jessica Buss, the CEO of Open Lending, has been appointed as interim principal financial officer following Charles Jehl’s departure. The board is actively searching for a permanent Chief Financial Officer. Additionally, during its Annual Meeting of Stockholders, Open Lending elected two Class II director nominees to its board. Both Adam H. Clammer and Blair J. Greenberg will serve until the 2028 Annual Meeting.
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