The expansion comes after the Art Institute of Michigan vacated the first floor of the five-story building in which United Shore is situated. The $250,000 expansion, expected to finish mid-summer, is an addition to United Shore’s $3-million, 275,000-square-foot headquarters
The company plans to add IT, sales and underwriting jobs. Spokesman Brad Pettiford said the company workforce, more than half of which is composed of millennials, has doubled in size since 2014, with 1,000 hires last year alone.
"I think the culture here is the main driver for the popularity because of the different perks, amenities and the opportunity for advancement," Pettiford told Crain’s
. "It provides a good work-life balance."
2016 was a record-breaking year for the company, with more than $23 billion in loan volume – a 78% increase from 2015 – while its total revenue was $857 million.
Mat Ishbia, president and CEO of United Shore, said they’re expecting a 50% growth this year.
“Our goal is to hit $30 billion in loan volume this year, despite predictions of a slowing market," Ishbia told Crain’s. "Bringing in top local talent is the key to our growth."
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Mortgage lender United Shore Financial Services LLC plans on hiring 600 people this year to help fill the new 20,000-square-foot expansion of its Michigan headquarters, according to Crain’s Detroit Business.