Wells Fargo cements DeVito’s role as head of home lending

Wells Fargo has announced the promotion of Perry Hilzendeger as the new head of home lending retail, a newly created role. Currently executive vice president and head of home lending servicing, Hilzendeger will assume her new role effective April 16. He will report to Michael DeVito, who was named head of Wells Fargo Home Lending in January.

Wells fargo 2017 investor day consumer lending 14 Home Lending overview Broad Retail Distribution to Serve Customers: 8,000 Home Mortgage Consultants in local markets and in our centralized call centers Over 450 stand-alone mortgage locations plus co-locations with Community Bank and Wealth/Advisors $134B in volume in 2016

Rising costs could test mortgage servicers’ strategies The term "correspondent" is generally used for companies that do everything "mortgage bankers" do, except in most cases they release the servicing rights to someone else who will benefit from that stream of income. Correspondents may be large enough to service some loans, but most often choose instead to sell them servicing released.

Wells Fargo Names Michael DeVito Head of Home Lending. DeVito will report to Mary Mack, head of Community Banking and Consumer Lending. DeVito’s appointment follows Mack’s appointment to lead Wells Fargo’s consumer lending business in addition to Community Banking, which was announced in December 2017.

“He will play an integral role with the company as we continue. Before moving to Houston in 2017, he worked for Wells Fargo Bank in Dallas, specifically with the commercial real estate lending and.

The typical wells fargo lending Manager salary is $77,811. Lending Manager salaries at Wells Fargo can range from $68,314 – $96,313. This estimate is based upon 25 Wells Fargo Lending Manager salary report(s) provided by employees or estimated based upon statistical methods.

SAN FRANCISCO–(BUSINESS WIRE)–Wells Fargo & Company (NYSE: WFC) announced today that Michael DeVito has been named head of Wells Fargo Home Lending, a role he has held on an interim basis since November 2017. DeVito will report to Mary Mack, head of Community Banking and Consumer Lending.

This information is for use by mortgage professionals only and should not be distributed to or used by consumers or other third-parties. Information is accurate as of date of posting and is subject to change without notice.

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Michael DeVito, who was named Wells Fargo’s interim head of home lending after the bank fired consumer lending head Franklin Codel, is now officially leading the residential mortgage unit.

Heid will continue in his current role at Wells Fargo until Sept. 30 and remain with the company until the end of the year to ensure a smooth transition, the bank said. Codel will take over Heid’s role as head of mortgage lending on Oct. 1.