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

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

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Welcome to Wells Fargo Home Mortgage Institutional Lending. Wells Fargo Home Mortgage Institutional Lending Group (IL), is a division of Wells Fargo Home Mortgage, Inc., accounting for nearly half of the mortgage company’s business. The IL group consists of three different Business Lines: Correspondent (Funding) and Institutional Conduit Sales (ICS).

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Wells Fargo Home Mortgage 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.

SAN FRANCISCO–(BUSINESS WIRE)–Wells Fargo & Company (NYSE: WFC) announced today that Franklin Codel, a senior executive vice president and head of its Consumer Lending organization, has been.

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Wells Fargo said Michael DeVito will lead its mortgage division, after assuming the role on an interim basis following an executive shake-up in late 2017.

co-president of Wells Fargo Home Mortgage. Heid, who oversees one of the biggest mortgage lenders in the country, recommended that the system needed to be reformed to clarify the roles and.

After months of anticipation, Wells Fargo & Co. has announced that Jeff Smith will take the helm as head of Home Lending Servicing.

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.

Wells Fargo, the multifamily industry’s largest lender, has rejuvenated its floating-rate bridge loan program for multifamily properties. The news comes fresh on the heels of a similar move from Prudential Mortgage Capital Co., as more institutional lenders see greater demand for, and grow more comfortable with, debt for transitional assets.

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