Mat Ishbia has been named president of United Shore Financial Services LLC (USFS). Ishbia had previously served as president of United Wholesale Mortgage, USFS's largest division. As president of UWM, Ishbia took a unique approach to mortgage operations, transforming the company into an industry leader in customer service. Complementing these changes, he redesigned the sales team from a traditional outside sales model to an inside sales model, differentiating UWM from the competition and catapulting its production numbers into the top-10 industrywide.
"This promotion recognizes the tremendous contribution Mat has made to the growth of USFS, including his hard work and success in building UWM into a top 10 wholesale lender and the fastest-growing company in its space," said Kip Kirkpatrick, CEO of USFS. "Mat is already instrumental in running the larger USFS business day-to-day, and he is having a huge impact on where we are going as a company."
Ishbia also took a leading role in driving USFS to its best year since its founding in 1985, during which the company generated more than $7.2 billion in home loans. These results not only reflected on the success of UWM but also on USFS's traditional retail business, Capital Mortgage Funding, along with a new national call center consumer direct business operating under the Shore Mortgage brand. This Shore Mortgage call center now has an annual run-rate of more than $1 billion in production, while Capital Mortgage Funding is continuing to grow as one of the predominant mortgage bankers in Michigan.
"I'm excited to take on greater responsibility for the continued growth and development of USFS, which is enhancing our ability to meet our clients' needs through a combination of service, technology and industry-leading turn times," Ishbia said, adding "we are determined to be the partner of choice for our clients, and, ultimately, to build the premier independent mortgage bank in the U.S."
In pursuit of its growth vision, USFS has expanded its management team through a number of major hires, including Tim Forrester as chief financial officer and Kirstin Hammond as executive vice president.
