Paramount Residential Mortgage Group (PRMG) has announced the hiring of Adam W. Rieke, regional vice president to head up their operations in the Central United States, and the Midwest Region. Adam is a 23-year industry veteran who has built and managed several highly successful and profitable wholesale lending operations since 1995, where he led First Horizon’s Wholesale Lending Operation in the Chicago market. Adam has also served as president and CEO of a national wholesale lender, which was sold in June of 2006 at a premium to shareholders.
Most recently, Adam spent the past seven years as a senior vice president with Mortgage Services III LLC which began as a start-up in May of 2007, subsequently becoming the seventh largest wholesale lender in the nation by volume.
“Adam’s high-level of experience combined with his skill-sets in managing successful wholesale operations will not only help to serve our existing customers in the Midwest region, but will also help foster new relationships throughout the Central United States, as we continue to remain on course toward expanding our overall footprint across the country as a national player,” said PRMG president and CEO, Paul Rozo.
In his new role as regional vice president, PRMG, Adam will be tasked with building the Midwest territory, adding scale, increasing PRMG’s market-share, and overseeing a full service fulfillment operations center that will be underwriting and funding locally. This includes generating business in the states of Illinois, Indiana, Kentucky, Ohio, West Virginia, Missouri, Michigan, Wisconsin, Minnesota, and Iowa. Adam will be reporting directly to Herb Lewis, divisional VP, PRMG.
When being interviewed as to why he choose PRMG, Adam replied he believes PRMG to be a financially well-heeled independent mortgage firm which has demonstrated their ability to withstand the test of time through the trials of the 2007-2008 mortgage melt-down, and now looks to 2014 with uncommon optimism. “There is no better place in America today for the enterprising mortgage professional looking to restore prominence to wholesale lending in 2014,” said Rieke.