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Preferred Financial Group Expands Senior Team.

Ron Wilsie is Chief Operating Officer; Gary Plooster is Chief Production Officer

BURLINGAME, Calif. -- Preferred Financial Group, Inc. today announced it has expanded its executive management team with the appointments of Ron Wilsie, chief operating officer, and Gary Plooster, chief production officer.

"The industry expertise that Ron and Gary bring with them puts Preferred in a strong position as we start 2007 as a year of progress and innovation," said Rajiv Gujral, chief executive officer. "We are extremely pleased to have these two professionals with knowledge across all facets of the mortgage industry joining our team."

"The addition of these key roles to our management structure reflects an important step in driving our future growth," said Ash Gujral, president. "With their reputations for business excellence, we look forward to Ron's and Gary's contributions in helping to fuel Preferred's continued profitability and expansion."

In his new role, Mr. Wilsie is responsible for the day-to-day management of secondary marketing, finance, post closing, and compliance for the company's wholesale and retail divisions.

Previously, Mr. Wilsie was president of WestWorks Mortgage in Southern California, which was formed in 1997 as a division of Western Financial Savings Bank. With 31 years experience in the mortgage industry, he started his lending career with Advance Mortgage Corporation in Southfield, Michigan after receiving his bachelors and MBA degrees from Michigan State University. Mr. Wilsie has managed mortgage banking entities in a senior executive capacity since 1986.

In his new role as chief production officer, Mr. Plooster is responsible for day-to-day management of the wholesale and retail divisions' loan production, operations and sales functions.

Previously, he was executive vice president for national wholesale production and operations at United Financial Mortgage Corporation in Phoenix, Arizona.

With 31 years of mortgage banking experience, Mr. Plooster has distinguished himself managing national production and operations divisions for several national mortgage lenders, including Shearson Lehman, Western Financial and Countrywide. Throughout his career, he has been active in industry trade associations and has served on numerous mortgage broker advisory panels.

Mr. Plooster received his Bachelor of Arts degree in economics and business administration from Hope College in Holland, Michigan, and his MBA from Michigan State University.

Preferred plans to expand its wholesale mortgage franchise into new geographic markets in 2007 by adding mortgage production offices in Arizona, California, Colorado, Florida, Georgia, New Jersey and Oregon.

About Preferred Financial Group, Inc.

Based in Burlingame, Calif., Preferred Financial Group, Inc. is a privately-held holding company that delivers a full spectrum of residential financing products in wholesale and retail mortgage channels using innovative, proprietary technology. The company lends in most states. Preferred owns Wholesale Lending Online (WLO), a leading wholesale mortgage bank with offices in Burlingame, Sacramento and Costa Mesa California, and Las Vegas, Nevada; and Preferred Mortgage Services, a retail mortgage broker with offices in Burlingame, Millbrae, Redwood City, and San Rafael, California and branches in Las Vegas, Nevada and Phoenix, Arizona.

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Publication:Business Wire
Date:Jan 22, 2007
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