JAN 8, 2013 11:15am ET

United Shore in Michigan Names New President

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United Shore Financial Services in Birmingham, Mich., has promoted the head of its wholesale mortgage unit to become its president.

The mortgage lender said Monday that it had named Mat Ishbia president. Ishbia, 32, had been the president of United Shore's United Wholesale Mortgage. Ishbia, who joined the company 2003, rebuilt the unit's sales team and contributed significantly to efforts that led to $7.2 billion in mortgage originations last year, the company said in a press release.

"This promotion recognizes the tremendous contribution Mat has made to the" company's growth, Kip Kirkpatrick, United Shore's chief executive, said in a the release. "Mat is already instrumental in running the larger [United Wholesale] business day-to-day, and he is having a huge impact on where we are going as a company."

The appointment is the company's third addition to its executive team in as many months. In October, Tim Forrester became the company's chief financial officer and Kristin Hammond was named its executive vice president for capital markets. Forrester previously led the mortgage banking practice at Deloitte. Hammond was chief investment officer of Flagstar Bancorp and president of the company's capital markets unit.

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