Former Flagstar Executive Now Co-Chair at United Shore

Mark Hammond, the former chief executive, vice president and vice chairman of Flagstar Bancorp, has become co-chairman of United Shore Financial Services, a mortgage lender which like Flagstar is based in Troy, Mich.

Members of the Hammond family left the management team at Flagstar at various times in 2009 as the then-troubled company needed a capital infusion from MatlinPatterson Global Advisors. Mark Hammond severed ties with Flagstar in December 2009.

Currently, Hammond is a managing partner of Alidade Capital, a Michigan-based private equity firm.

“Mark brings many years of mortgage banking experience to USFS and a proven track record of successfully growing organizations and increasing revenue,” said Jeff Ishbia, chairman and founder of USFS. “He will unequivocally play a pivotal role in taking USFS to new heights.”