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Shore Financial Takes On Two New Hires

In a statement released Monday, Michigan-based mortgage lender ""Shore Financial Services, Inc."":http://www.shorefsi.com/index.php announced its decision to appoint Susan Pelto, a regulatory compliance expert, its chief compliance officer. Alongside Pelto, the company advanced COO Kathy Welty to CRO, whereby she will now participate in a risk committee.

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""In an increasingly regulated world, effective risk management is a key differentiator for mortgage lenders, and a key part of this is a strong compliance offer,"" Kip Kirkpatrick, CEO of Shore Financial, said in a statement. ""Shore Financial's appointment of respected compliance expert Susan Pelto as Chief Compliance Officer, and proven senior executive Kathy Welty as Chief Risk Officer, shows our determination to build the best risk management team in the industry.""

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""At a time of rapid industry change, it's exciting to see Shore Financial's commitment to quality underwriting, effective compliance and strong risk management in general,"" Pelto said. ""I look forward to being a part of this dynamic, industry-leading company as it continues to build its national profile.""

According to the statement, Pelto previously served as regulatory compliance officer at Detroit-based ""Quicken Loans"":http://www.quickenloans.com/ over a nine-year stretch. In this role, she managed compliance measures for the company's retail mortgage lending operations around the country. Before her position at Quicken Loans, she served as VP at Michigan National Bank, overseeing compliance and retail lending operations. Her recent move to Shore Financial caps nearly 30 years of professional experience in the retail lending field.

Pelto will join the risk committee, whose members include herself, Welty, Kirkpatrick, CFO Michael Jones, and several other representatives from the company. In her new role, according to the statement, she will oversee internal audits, compliance measures, and quality control.

According to its Web site, Shore Financial supplies brokers with mortgage services through ""United Wholesale Mortgage"":http://www.uwmco.com/, its wholesale arm, and maintains operations in all but three states across the country.

About Author: Ryan Schuette

Ryan Schuette is a journalist, cartoonist, and social entrepreneur with several years of experience in real-estate news, international reporting, and business management. He currently lives in the Washington, D.C., area, where he freelances for DS News and MReport.
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