A lender that ranked among the 25-biggest lenders in Mortgage Daily’s first-quarter originator ranking has named a former college basketball player as its new chief executive officer.
United Shore Financial Services LLC reported that residential loan originations during the first quarter of this year were $2.8 billion.
That landed the Birmingham, Mich.-based company in the 21st spot on Mortgage Daily’s first-quarter 2013 ranking of U.S. mortgage lenders.
In addition, the 27-year-old lender claims that its wholesale lending subsidiary, United Wholesale Mortgage, is the “fourth largest wholesale mortgage lender in the country.”
|United Wholesale grew under the leadership of Mat Ishbia. The executive joined the company in 2003 after playing in three final-four tournaments — including a winning championship –while attending Michigan State University, according to Crain’s Detroit Business.
On Friday, United Shore announced that Ishbia will become its new CEO. He already serves as president of the company and the wholesale unit.
Current United Shore CEO Kip Kirkpatrick will transition from running day-to-day operations to taking a seat on the company’s advisory board.
Ishbia’s father and United Shore’s founder and chairman, Jeffrey A. Ishbia, noted in the announcement that Kirkpatrick has demonstrated “unwavering passion and commitment” since his appointment to the CEO role in 2011.
“We look forward to working with him as a trusted, highly experienced advisor to assist in strategically growing the business,” the senior Ishbia stated.
United Shore photo of Mat Ishbia