BINGHAM FARMS, Mich., September 15, 2009 — Michigan Mutual, Inc., the Bingham Farms Mich.-based wholesale mortgage unit of Port Huron, Mich.-based First Preferred Mortgage Company, has named Vince Parlove as president. First Preferred Mortgage Company Senior Vice President Hale Walker made the announcement.
As President, Parlove will oversee the day-to-day operations of the wholesale unit and its more than 60 employees.
“Vince has done wonderful things growing Michigan Mutual, Inc. and driving its success as one of the most respected wholesale loan companies in Michigan,” said Walker. “Additionally, having Vince as a member of our executive team and President of both Michigan Mutual, Inc. and First Preferred Mortgage Company is an asset considering Vince’s vast background in the mortgage industry.”
Prior to joining Michigan Mutual, Inc., Parlove served as executive vice president of secondary marketing for Southfield, Mich.-based FMF Capital. In this position, he managed more than 90 employees, selling more than $400 million per month into secondary markets. His division also managed more than $750 million in warehouse facilities. He earned a BBA from Adrian College in 1992. Parlove currently resides in Brighton, Mich. with his wife and three children.
Along with Parlove’s appointment as president of Michigan Mutual, Inc., Mark Walker has been named CEO and Sharon Smith has been named CFO of First Preferred Mortgage Company.
Bingham Farms, Mich.-based Michigan Mutual Inc. (MMI) purchases mortgages from independent mortgage brokers, banks and credit unions in Michigan and 19 additional states. For more information, please call (248) 203-1340 or visit www.michiganmutual.com.
First Preferred Mortgage Company has been a family-owned and operated company serving the Midwest for nearly 20 years. Founded by Mark and Hale Walker, First Preferred is a rapidly expanding, full-service residential mortgage bank. It has consistently provided home loan, refinancing and reverse mortgage services while offering outstanding customer service as experts in the mortgage industry. A strong and genuine belief in the “customer for life” principle of doing business is what fuels First Preferred. Additionally, the company continues to take advantage of improving technology to make the lending process as simple as possible for its customers by opening a retail call center that originates loans via the Internet.
Today, the company has 145 employees and will close $1 billion in 2009. For more information about First Preferred, call 1-800-700-5839 or visit www.firstpreferred.com.