assumed in October 2015, and before that ran its mortgage servicing For non-press inquiries, visit our FAQs page. Media Vickee Adams 515-537-3276 vickee.j.adams@wellsfargo.com @vickeeadamsWF, Investors Jim Rowe 415-396-8216 Jim.Rowe@wellsfargo.com. Whether you are investing for retirement, education expenses or . Other executives that have left the GSEs in recent months includeAndrew Bon Salle,John Forlines, Jean Weng andDesmond Smith. He is from . This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. He was thrust into running the home lending unit, first on an interim basis in November 2017. Salaries at Wells Fargo Bank range from an average of 433,993 to 3,253,850 a year. Find out if Freddie Mac owns your loan using our secured lookup tool. DeVito worked with Wells Fargo for over 23 years. Even then, the U.S. Treasury would likely exercise its rights to convert the growing preferred stock preferences into common stock when that occurs. I am confident that he is the right choice to lead the nations Net Worth in 2019. DeVito, who spent more than two decades at Wells Fargo before retiring last year, will take the helm of the GSE on June 1. Your input helps Glassdoor refine our pay estimates over time. Individual salaries will, of course, vary depending on the job, department, location, as well as the individual skills and education of each employee. 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 . for Norwest Corporation. This week the company said President David. Consumer Lending business in addition to Community Banking, which was Wall Township, NJ. . largest corporations. 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 SAN FRANCISCO--(BUSINESS WIRE)--Wells Wells Fargo & Wells Fargo Wells Fargo Mortgage - Michael Devito, Liz Bryant, Liz Djokovich Bryant, Perry Hilzendeger, Brad Blackwell, Tim Sloan, Greg Gwizdz, Franklin Codel 420 Montgomery St San Francisco, CA United States. fulfillment for Home Lending. Vice President salaries at Wells Fargo can range from 3,07,258 - 75,00,000 per year. Eric C. Peck has 20-plus years experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. 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. Hes slated to become CEO of Barings Multifamily Capital after its sold to a joint venture between Meridian and Barings. DeVitos appointment follows Macks appointment to lead Wells Fargos He retired from Wells Fargo in 2020. To opt in for email alerts, please enter your email address in the field below and select at least one alert option. NMLSR ID. 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. 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. 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. He was thrust into running the home lending unit, first on an interim basis in November 2017, following the firing of Franklin Codel, who directed all aspects of consumer lending at the bank, regarding the inappropriate termination of a former employee. DeVito will report to Mary Mack, head of Community Banking and Consumer Lending. Leading commentary by award-winning journalists. At various points of his career, he headed up home lending production, servicing, default servicing, and loan workouts. The lowest-paying job at Wells Fargo is a PT Teller with a salary of $36,721 per year. continue to lead the Personal Lending Group, including student lending With approximately 266,000 team members, Wells Fargo serves one in three households in the United States. Mr. DeVito brings more than 30 years of experience in the mortgage and financial services industry to Freddie Mac. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Looking for job/firm recommendations for my wife: she is currently a client service associate, fully registered (series 65, 63, 7), 5yoe. User promo code onward25 during checkout to save 25% on your Inman Select Membership. 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. Active 1964 13 . Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. 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. While at Wells Fargo, DeVito. Wells Fargo Dealer Services), which includes direct and indirect auto After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. management consultant - $237k per year . 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. Mr. DeVito brings more than 30 years of experience in the mortgage and financial services industry to Freddie Mac. The top 5 highest paying jobs at Wells Fargo with reported salaries are: software engineering manager - $420k per year . Wells Fargos The federal government "should acknowledge that Americans' attention to racial discrimination is more pronounced and expansive," Michael DeVito, Wells Fargo's executive vice president for . 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. DeVito most recently led mortgage production for the company, a post he Wells Fargo's CFO is Michael Santomassimo How do I contact Wells Fargo? DeVito will replace interim CEO Mark Grier, who will return to his duties on Freddie Mac's board. The banking industry appears to be stuck when it comes to diversifying the leadership ranks. Apply Now Get a Call Back. 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. our customers and help them succeed financially.. The highest-paying job at Wells Fargo is a Managing Director with a salary of $497,433 per year. holistic approach to delivering retail banking and lending services to Originations Editor, National Mortgage News. At that time, Interim CEO Mark B. Grier will resume his duties as a full-time member of Freddie Macs board of directors. DeVito most recently led mortgage production for the company, a post he Home Mortgage Consultant. Learn more atFreddieMac.com, Twitter@FreddieMacand Freddie Macs blogFreddieMac.com/blog. Michael has made over 3 trades of the Wells Fargo & Co stock since 2021, according to the Form 4 filled with the SEC. he was named head of default servicing. financial services company with $2 trillion in assets. He was selected to lead Wells Fargo Home Lending in January 2018. SAN DIEGO February 27, 2020 The National Association of Hispanic Real Estate Professionals (NAHREP ) announced Housing and Urban Development Secretary Ben Carson will deliver the keynote address at its National Convention and Housing Policy Summit being held March 16-18 at the Ritz-Carlton in Washington, D.C. Peck graduated from the New York Institute of Technology where he received his B.A. in Daily Dose, Featured, Government, Journal, News Wells Fargo Dealer Services), which includes direct and indirect auto DeVito brings more than 30 years of experience in the mortgage and financial services industry to Freddie Mac, most notably at Wells Fargo. 3,456 Views. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. Finet comp question - do they pay the standard grid rate for annuities that the rest of the bank gets? This website uses cookies to enhance user experience and to analyze performance and traffic on our website. When factoring in bonuses and additional . Source: Fannie Mae 2020 annual report to investors. . 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. our customers and help them succeed financially.. 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. Phone: 561-820-1052 | 800-736-7256 Fax: 561-838-4990. 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, said Michael DeVito. will continue to report to Mack as head of Wells Fargo Auto (formerly He was raised in Florida. Coalesce's Select Membership is no longer active. 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. Wells Fargo employees rate the overall compensation and benefits package 3.7/5 stars. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Mobile Phone (516) 524-2506 (516) 524-2506. DeVito will report to Mary Mack, Wells Fargo pays an average salary of $100,074 and salaries range from a low of $85,623 to a high of $116,512. MCLEAN, Va., May 26, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced that its Board of Directors has named housing-industry veteran Michael J. DeVito as the company's Chief. C. Benson Fannie Maes highest paid executive would act as interim CFO while a search for a permanent replacement is conducted. Get a free, personalized salary estimate based on today's job market. Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.7 trillion in assets. Other named executives can receive deferred compensation on top of their base salary, some of which is based on performance. DeVito, who spent more than two decades at Wells Fargo before retiring last year, will take the helm of the GSE on June 1. View Michael Eric's profile on LinkedIn, the world's largest professional community. finance and commercial services. HW Media connects and informs decision makers across the housing economy. DeVito took over as head of mortgage production at Wells Fargo in 2015, after previously leading the bank's mortgage servicing operation. Michael Cleary, the head of Santander Bank's consumer business, has followed his former boss Scott Powell to Wells Fargo & Co. for a key role overseeing the source of many of the . 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. . The technical storage or access that is used exclusively for statistical purposes. Personal Service. Wells How new GSE guidelines will push more borrowers to non-QM. 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 company's mortgage and home equity business. Arnie Aurellano is chief reporter and website content editor at Scotsman Guide. This estimate is based upon 306 Wells Fargo Software Engineer salary report (s) provided by employees or estimated based upon statistical methods. both mortgage sales and servicing, stated Mack. His background and experience make him an excellent choice to lead Freddie Mac at this time. MCLEAN, Va., May 26, 2021 (GLOBE NEWSWIRE) -- Freddie Mac(OTCQB: FMCC)today announced that its Board of Directors has namedhousing-industry veteran Michael J. DeVito as the companys Chief Executive Officer (CEO), effective June 1. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. 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. Wells Fargo contact info: Phone number: (866 . Michael Santomassimo. Use our lookup tool to see if Freddie Mac financed your apartment building. Wells Fargo Home Mortgage Consultant - Joseph DeVito. On Fishbowl, you can share insights and advice anonymously with Wells Fargo employees and get real answers from people on the inside. $900K. Consumer Lending business in addition to Community Banking, which was At one time, he served as the head of education financial services at the bank. To subscribe to exclusive newsletters, visit your email preferences in the account settings. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. The estimated base pay is $164,691 per year. Unique features from hacker profiles to portal watch and video interviews. serves one in three households in the United States. The bank says the candidates failed to make full disclosures. Resources, training, System Status, and FAQ to help you run your business. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. DeVito has since served on numerous industry and . The 18-year mortgage veteran will assume the position at the start of August. Insights, products, and technology to help you grow your business. Education Financial Services for nearly three years and led retail After Brickman stepped down in early January, Mark Grier was appointed interim CEO. Michael DeVito Chief Executive Officer I have been Freddie Mac's CEO for just over six months. Overall Benefits Rating.css-11cfy92{color:#0caa41 !important;}.css-11cfy92{color:#0caa41 !important;}4. Michael is a seasoned and respected leader, with deep experience in S.F. and its various affiliates and . Net Worth in 2021. the ability to manage large, complex operations, and he has a true DeVito, who ran the mortgage division for two years, will retire later this summer. 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. needs. 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..
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