Wells Fargo Head of Home Lending Announces Retirement

first_img August 12, 2015 531 Views Wells Fargo Head of Home Lending Announces Retirement Home Lending Mortgage Production Wells Fargo 2015-08-12 Staff Writer in Headlines, Newscenter_img Michael J. HeidWells Fargo EVP and head of Home Lending Michael J. Heid announced on Wednesday that he will retire after nearly 28 years with the bank and 11 years with Wells’ mortgage division.Effective October 1, 2015, Heid will be succeeded as head of Home Lending by Franklin Codel, who currently serves as EVP and head of Mortgage Production at Wells Fargo. Codel will be responsible for overseeing the business and strategic direction of Wells Fargo’s Home Lending division, which currently includes 45,000 team members.To ensure a smooth transition, Heid will remain in his current position with Wells Fargo until September 30 and will stay with the company until the end of the year.“Home lending is a cornerstone of our business – and a cornerstone of the American dream,” said John Stumpf, Wells Fargo’s chairman and CEO. “Mike has led our home lending organization with a deep focus on helping families achieve their dreams of owning a home and he’s done so with uncompromising integrity. Over a distinguished career spanning three decades, Mike has helped our company and the entire housing industry navigate unprecedented challenges and prepare for the future. His impact will be felt for many years to come.”Heid joined legacy Norwest Mortgage, now Wells Fargo, in 1988 and served in such leadership positions as Chief Financial Officer and head of Loan Servicing before being named co-president of Wells Fargo Home Mortgage (WFHM) in 2004. He was named president of WFHM in 2011.”Mike’s calm, thoughtful and decisive leadership has had a profound and meaningful impact on Wells Fargo and one of his most important contributions has been to build a truly remarkable organization and a deep bench of extraordinary leaders,” said Avid Modjtabai, Senior EVP of Consumer Lending at Wells Fargo.Over the years, Heid has been actively involved in legislative and regulatory policy matters that affect the mortgage industry. He currently serves as chairman of the Lending and Leasing Committee of the Financial Services Roundtable.”Mike played an integral role in aligning the industry during a critical time, by displaying unparalleled leadership in working with the Bush Administration and the U.S. Treasury Department during the height of the U.S. housing crisis,” said Ed Delgado, president and CEO of The Five Star Institute. “The industry and the country should be thankful for his efforts.”Codel has worked in the mortgage industry for more than 26 years. He has been the head of Wells Fargo’s Mortgage Production unit since 2011, which has included sales, operations, quality, compliance, and underwriting. Prior to serving as head of Mortgage Production, he provided financial leadership for WFHM in the position of head of Mortgage Finance from 2004 to 2011. He previously spent eight years with Norwest Mortgage and served as in various finance, capital markets, and credit roles in three years with Prudential Mortgage. Before joining Prudential, Codel worked at Citicorp Mortgage for four years.”We are incredibly fortunate to have Franklin Codel as our new head of Home Lending,” Modjtabai said. “He is an enthusiastic and tireless advocate for homeowners and exactly the right leader to build on our momentum, work with regulators and other stakeholders and help us continue to deliver an exceptional experience for customers in every interaction. Congratulations to both Mike and Franklin; because of them, we have a track record we can be very proud of and a bright future ahead.”Editor’s note: The Five Star Institute is the parent company of MReport and TheMReport.com. Sharelast_img

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