Kristy Fercho succeeded him at Wells Fargo, the countrys largest depository mortgage lender. finance and commercial services. Phone: (703) 903-3933 With more than 30 years of mortgage and financial services experience, DeVito spent more than 23 years at Wells Fargo and Company, serving most recently as EVP/Head of Home Lending, where he was responsible for all aspects of the companys mortgage and home equity business. serves one in three households in the United States. "His background and experience make him an excellent choice to lead Freddie Mac at this time.". serves one in three households in the United States. $7.5M. At various points during his tenure, Mr. DeVito served as Head of Home Lending Production, Home Lending Servicing, Default Servicing, Loan Workout, the Head of Education Financial Services, and Mortgage Retail Underwriting and Operations. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran. 30 on Fortunes 2015 rankings of Americas largest corporations. News, insights and perspectives from Wells Fargo Home Mortgage Consultant. Freddie Mac Names Michael DeVito New CEO - DSNews Please update your billing information to reactivate your membership. Michael DeVito is the Chief Executive Officer of Freddie Mac, one of the nation's largest providers of mortgage financing. Evans succeeds Andrew Bon Salle, who put Fannie Maes board on notice Oct. 9 that he would be retiring at the end of the year after 28 years with the company. Wells Fargo employees earn an average salary of $41,599 in 2023, with a range from $22,000 to $77,000. Does it go far enough? Although the companies have repaid the $191 billion taxpayer bailout provided during the housing crash plus interest theres still much debate about how they should operate in the future, even as the companies seek to recapitalize. Grier assumed the interim role in March after David Brickman retired, vacating the CEO post in January. 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. in Communication Arts/Media. While at Wells Fargo, DeVito. For non-press inquiries, visit our FAQs page. Suite 900 DeVito, who ran the mortgage division for two years, will retire later this summer. 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.. 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. MediaTom Goyda, 314-875-8222Tom.Goyda@wellsfargo.comorInvestorsJohn Michael DeVito is a strong leader who has seen first-hand the difference we make for our customers through loan origination, servicing, and home preservation, said Codel. Fargo William Hall Macy Jr. is an American actor. Wells Fargo has provided this link for your convenience, but does not endorse and is not responsible for the content, links, privacy policy, or security policy of this website.
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