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Wells Fargo contact info: Phone number: (866 . Where does the bank and the Fed go from here? At that time, Interim CEO Mark B. Grier will resume his duties as a full-time Member of Freddie Mac's Board. Wells Fargo & Co. said Michael DeVito will lead its mortgage division, after assuming the role on an interim basis following an executive shake-up in late 2017.. His permanent elevation to the top . Professionals rely on HW Media for breaking news, reporting, and industry data and rankings. Learn more atFreddieMac.com, Twitter@FreddieMacand Freddie Macs blogFreddieMac.com/blog. While at Wells Fargo, DeVito. Michael DeVito's income source is mostly from being a successful . Grier assumed the interim role in March after David Brickman retired, vacating the CEO post in January. Only 3 days left to register for Inman Connect Las Vegas before prices go up! Michael P. Santomassimo Senior EVP, Chief Financial Officer: Total Cash $4,487,500 . an interim basis since November 2017. The banking industry appears to be stuck when it comes to diversifying the leadership ranks. Lead Analyst Logan Mohtashami explains. Top headlines from around the real estate industry. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Bon Salle has a contract with Homepoint that pays him consulting fee at an annual rate of $500,000, plus an annual bonus of $500,000 to $750,000, in exchange for up to 20 hours of work a week. Our model gets smarter over time as more people share salaries on Glassdoor. both mortgage sales and servicing, stated Mack. commercial finance through more than 8,300 locations, 13,000 ATMs, the Wells Fargos financial services company with $2 trillion in assets. See the complete profile on LinkedIn and discover Michael's connections and jobs at similar companies. After submitting your request, you will receive an activation email at the requested email address. Help make it more accurate by adding yours. Founded in 1852 and headquartered in San Francisco, an interim basis since November 2017. Wells Fargo Home Mortgage Consultant - Joseph DeVito. There has been an exodus of executive talent at Freddie Mac and Fannie Mae since it became apparent in 2020 that the GSEs wouldnt be released from conservatorship anytime soon. The estimated base pay is $164,691 per year. The largest trade Michael's ever made was exercising 73,068 units of Wells Fargo & Co stock on 18 June 2022 worth over $3,480,229. Site by, The new, must-have technology thats tackling lendings greatest challenges. A Flagstar executive said the mortgage-focused bank is "not just going to sit on the sidelines and watch this happen.". Rocket has a plan to drastically cut costs. Home Mortgage Consultant. Fannie Mae and Freddie Mac, which help channel investment into mortgage lending by purchasing and guaranteeing mortgages, were placed into government conservatorship in 2008, as potential losses from the housing crash mounted. DeVito will report to Mary Mack, You are leaving newsroom.wf.com and entering a website that Wells Fargo does not control. In January 2018, DeVito was given the job full time, which he held until he retired in July 2020 and was succeeded by Kristy Fercho. WFHM is the leading originator and servicer of residential mortgages in the United States. Wells Fargo Dealer Services), which includes direct and indirect auto I spent 2021 listening and learning, working to understand all areas of the organization's business from what it has been, to what it can be. DeVito also served as the head of mortgage production and ran mortgage servicing operations at Wells Fargo during his 23-year stint at the bank. Lendings early e-business initiatives and managed retail home equity He serves on the Board of Trustees for Simpson College in Indianola, Iowa and also serves as the Executive Mentor for the Iowa Chapter of the Wells Fargo Veterans Team Member Network. Breaking news as it happens. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Salary, bonuses, stock options, stock awards and other compensation information for top executives at WELLS FARGO & COMPANY/MN. $1.8M. Are there any roles out there that are fully remote or at least hybrid, paying $100k+ for a similar skill set? Wells Fargo & Company (NYSE: WFC) is a diversified, community-based Before Freddie Mac, DeVito spent more than 23 years at Wells Fargo, responsible for all aspects of the company's mortgage and home equity business. Read what they think about their salaries on our Compensation FAQ page for Wells Fargo. head of Community Banking and Consumer Lending. Wells Fargo & Company was ranked No. On behalf of the board of directors, I would also like to thank Mark Grier for his leadership as Interim CEO and we are pleased that he will continue to contribute to the company as a member of the Board.. New forecast calls for commercial mortgage lending to stay the course in 2022, Residential construction declines as single-family sector sees continued weakness, Home flips continue to grow, but profit margins continue to slide. Consumer Lending business in addition to Community Banking, which was For reprint and licensing requests for this article, Banking on sisterhood: A Black sorority launches a credit union. Grier assumed the interim role in March after David Brickman retired, vacating the CEO post in January. Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.7 trillion in assets. Any input is appreciated! Read what they think about their salaries on our Compensation FAQ page for , Get started with your Free Employer Profile, Customer Service and Sales Representative, Teller salaries - 4,272 salaries reported, Bank Teller salaries - 2,710 salaries reported, Personal Banker salaries - 2,372 salaries reported, Personal Banker I salaries - 2,063 salaries reported, Lead Teller salaries - 1,393 salaries reported, Service Manager salaries - 712 salaries reported, Branch Manager salaries - 700 salaries reported, Customer Service Representative salaries - 618 salaries reported, Personal Banker I (SAFE) salaries - 577 salaries reported, Financial Analyst salaries - 545 salaries reported, Premier Banker salaries - 497 salaries reported, Teller At Wells Fargo salaries - 396 salaries reported, Home Mortgage Consultant salaries - 391 salaries reported, Relationship Banker salaries - 382 salaries reported, Software Engineer salaries - 378 salaries reported, Licensed Personal Banker salaries - 370 salaries reported, Vice President salaries - 346 salaries reported, Wells Fargo Bank salaries - 332 salaries reported, Phone Banker salaries - 323 salaries reported. About Freddie MacFreddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. both mortgage sales and servicing, stated Mack. Laura Schupbach to continue leading Wells Fargo Auto, and John Rasmussen to continue leading Personal Lending Group. Wells Fargo & SP . According to the companys most recent annual report to investors, Bon Salle was the second-highest paid executive at Fannie Mae in 2020, taking home $3.19 million in total compensation. DeVito retired last July from Wells Fargo after a 23-year stint with the company and replaced by Kristy Fercho as Head of Wells Fargo Home Lending. Working together, Im certain we can continue to deliver the liquidity, stability and affordability the housing markets need while enhancing our own safety and soundness.. The strategy document identifies potential avenues for cutting cybercriminals off from financing, as well as other actions banks can take. He has been the head of Mortgage Servicing since 2013 and has served on the Home Mortgage Executive Management Team since 2011. Does it go far enough? At various points of his career, he headed up home lending production, servicing, default servicing, and loan workouts. At that time, Interim CEO Mark B. Grier will resume his duties as a full-time Member of Freddie Macs Board. While at Wells Fargo, DeVito worked across the companys Home Lending channel, including loan origination, servicing, portfolio management, secondary marketing, and risk. internet (wellsfargo.com) and mobile banking, and has offices in 42 Use our lookup tool to see if Freddie Mac financed your apartment building. Mr. DeVito boasts 30+ years of experience in the mortgage and financial services industry; he spent 23+ years at Wells Fargo rising to the level of EVP, Head of Home Lending, where he was. Feb 5, 2020. "Working together, I'm certain we can continue to deliver the liquidity, stability and affordability the housing markets need while enhancing our own safety and soundness.". Homepoint said it was looking for Bon Salle to provide his expertise on matters including the companys Jan. 29 initial public offering, and the development of a company affiliate, Home Point Asset Management LLC. Michael Santomassimo. Autor de la entrada Por ; Fecha de la entrada what year porsche 911 to avoid; how to play radio on bose speaker . DeVito, who spent more than two decades at Wells Fargo before retiring last year, will take the helm of the GSE on June 1. He is also a member of the company's Board of Directors.. Subscribe to Inman Select for Breaking News and Exclusive Industry Content. . DeVito will report to Mary Mack, Prior to this, DeVito worked with Wells Fargo for over 23 years. View Michael Stack's profile on LinkedIn, the world's largest professional community. DeVito was previously head of Home Mortgage Servicing and will succeed Codel, who was named head of WFHM last month. Citigroup - compliance WFH, good salary, dont like job OR Wells Fargo - Audit, in office 3 days, 30 min commute, at least 10k more salary and better bonus, job I like. DSNews.com copyright 2023 is a registered trademark of The Five Star Institute, New Hampshire, South Dakota Most Affordable States, The Week Ahead: House Looks at CFPB Reform, Potentially Fraudulent Equitable Lien Foreclosures Continue to Plague Florida Courts, Study: Black-White Homeownership Rate Gap is the Largest in a Decade, Freddie Mac Adds Sonu Mittal to Its Senior Operating Committee. Michael J. DeVito. The average salary for a Vice President is $172,521 per year in United States, which is 45% lower than the average Wells Fargo salary of $319,203 per year for this job. Corporate Strategy, M&A, and Due Dilligence for reference based in NYC. The average Wells Fargo salary ranges from approximately $36,721 per year for a PT Teller to $497,433 per year for a Managing Director. are also available at Wells The mortgage giants are continuing to fill openings left by top executives who departed in the wake of the November elections, which sidetracked plans to privatize the companies. Consumer Lending business in addition to Community Banking, which was DeVito retired last July from Wells Fargo after a 23-year stint with the company and replaced by Kristy Fercho as Head of Wells Fargo Home Lending. will continue to report to Mack as head of Wells Fargo Auto (formerly Wells Fargo's CFO is Michael Santomassimo How do I contact Wells Fargo? The estimated base pay is $164,691 per year. After the November elections, doubts arose about the fate of the Trump administrations push to release the companies from government conservatorship. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Mr. DeVito brings more than 30 years of experience in the mortgage and financial services industry to Freddie Mac. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more. I am honored to lead a mission-driven company with proven success in making home possible for millions of families over the past five decades, DeVito said. Fannie, Freddie filling openings left by departures of top executives, The mortgage giants are continuing to fill openings left by top executives who departed in the wake of the November elections, which sidetracked plans to privatize the companies, What you need to know to start your day with all the latest industry developments. Under this new structure, Net Worth in 2019. Brickman, whose $702,000 in total compensation as Freddie Macs CEO included $102,000 in retirement benefits, was named executive chairman of Meridian Capital Group in January. C. Benson Fannie Maes highest paid executive would act as interim CFO while a search for a permanent replacement is conducted. Originations Editor, National Mortgage News. DeVito retired last July from Wells Fargo after a 23-year stint with the company and replaced by Kristy Fercho as Head of Wells Fargo Home Lending. I am honored to lead a mission-driven company with proven success in making home possible for millions of families over the past five decades, DeVito said in a statement. The typical Wells Fargo Software Engineer salary is 16,49,355 per year. Find out the highest paying jobs at Wells Fargo and salaries by location, department, and level. He spent more than 23 years at Wells Fargo and Company, rising to the level of Executive Vice President, Head of Home Lending, where he was responsible for all aspects of the companys mortgage and home equity business. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. Mr. DeVito brings more than 30 years of experience in the mortgage and financial services industry to Freddie Mac. In addition, John Rasmussen will Kristy Fercho succeeded him at Wells Fargo, the countrys largest depository mortgage lender. The estimated total pay for a Vice President at Wells Fargo is $319,203 per year. The activist investor is crying foul, claiming the Dallas-based bank harassed one of his board candidates into withdrawing and rejected the nomination of another. But Congress has limited the total annual direct compensation for each company's CEO to a base salary of . Salary estimates are based on 27.2k Wells Fargo India latest salaries received from various employees of Wells Fargo India. Simply enter the email address you used to create your account and click "Reset Password". passion for designing innovative experiences that support our customers We may also share information about your use of our site with our social media, advertising and analytics partners. Average Salaries at Wells Fargo Popular Roles Bank Clerk $31,859 per year Personal Banker $20.60 per hour Managing Director $213,312 per year Banking & Finance Banker $65,860 per year Relationship Banker $52,366 per year Loan Processor $50,550 per year Management Service Manager $41,756 per year Business Consultant $94,001 per year Consultant Tailored Financial Strategies. "HUD should acknowledge that Americans' attention to racial discrimination is more pronounced and expansive," Michael DeVito, Wells Fargo's executive vice president for home lending, said . He retired from Wells Fargo in 2020. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. internet (wellsfargo.com) and mobile banking, and has offices in 42 To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported.