United Shore Financial Sets Record in Home Loans

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BIRMINGHAM—United Shore Financial Services, LLC (USFS) one of the nation’s leading independent mortgage lenders and the parent company of United Wholesale Mortgage, has experienced a record start to its current fiscal year, and is on pace to generate close to $7 billion in residential home loans during the year, said Kip Kirkpatrick, the company’s chief executive officer.

USFS is among the fastest-growing independent mortgage bankers and, importantly, one of the fastest-growing employers in Michigan. “Our employee base is on a pace to grow from just over 400 last August to more than 800 by the end of September,” Kirkpatrick said. The company estimates its workforce will reach more than 1,000 within the next year.

To accommodate this expansion and prepare for the next phase of growth, USFS will be moving its corporate headquarters to a new facility at 1414 Maple Road in Troy. The company has taken out a lease for two full floors, more than 100,000 square feet, with an option for another 100,000 square feet. 

“Our new space is well suited to our business needs and will create a modern, spacious work environment for our employees,” Kirkpatrick said.  “Our success is a direct result of all the hard work our employees have done, and we are excited to build a state-of-the-art facility that is consistent with our culture and supports our goal of providing world-class customer service.”

As one of the key factors behind the company’s recent expansion, Kirkpatrick cited the success of USFS’s wholesale division, United Wholesale Mortgage, which he said “was no longer the best-kept secret in the mortgage industry.”

“Investments we have made in our wholesale business over the past few years are paying off,” said Mat Ishbia, president of United Wholesale. “We believe United Wholesale is currently the fastest-growing wholesale division of any mortgage lender in the U.S. This growth is consistent with our intent to become one of the nation’s largest independent mortgage lenders.  Our client service, technology and industry-leading turn times have positioned us to be the partner of choice for our clients.”

Kirkpatrick noted that in addition to USFS’s wholesale success, its retail businesses continue to show strong growth. Last year, starting from scratch, the company launched a national call center consumer direct business, operating under the Shore Mortgage brand, which should reach $1 billion in run rate by the end of this year. USFS’s traditional retail business, which operates under the Capital Mortgage Funding brand, continues to be the dominant player in Southeast Michigan. The company’s vision also includes a fast-growing loan servicing portfolio.

“We continue to be focused on building the premier independent mortgage bank in the U.S., using a unique multi-channel approach,” Kirkpatrick said. “As an integrated mortgage banking firm, with a diversified approach across channels and between origination and servicing, we intend to be a major player in the industry long term.  Our senior management team, which includes a number of talented and highly capable outside hires as well as proven experts from USFS itself, brings the right combination of expertise to make our vision a reality.” 

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