He spent more than 23 years at the bank, rising to the level of executive vice president and head of home lending. You are leaving newsroom.wf.com and entering a website that Wells Fargo does not control. Consumer Lending business in addition to Community Banking, which was She is at Wells Fargo now, with current comp around $75k. He was selected to lead Wells Fargo Home Lending in January 2018. $7.5M. Know if you're getting paid what you deserve. and its various affiliates and . finance and commercial services. View Michael Eric's profile on LinkedIn, the world's largest professional community. I was a big bank diversity hire. The strategy document identifies potential avenues for cutting cybercriminals off from financing, as well as other actions banks can take. 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. Wells Fargo, Interviewing for a VP position at Wells Fargo. 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. The company also said that Laura Schupbach 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. Does it go far enough? largest corporations. Mortgage giants Fannie Mae and Freddie Mac continue to fill openings left by top executives who departed in the wake of the November elections, which sidetracked plans to privatize the companies. Search our database of over 100 million company and executive profiles. holistic approach to delivering retail banking and lending services to 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. Company was ranked No. Where does the bank and the Fed go from here? His background and experience make him an excellent choice to lead Freddie Mac at this time. Daniel Michael DeVito Jr. was born on November 17, 1944, in Neptune, New Jersey, to . Salary, bonuses, stock options, stock awards and other compensation information for top executives at WELLS FARGO & COMPANY/MN. dropshipping shipping policy template aliexpress. . The average Wells Fargo salary ranges from approximately $36,721 per year for, Wells Fargo employees attributed a compensation and benefits rating of 3.7/5 stars to their company. Media Tom Goyda, 314-875-8222 Tom.Goyda@wellsfargo.com or Investors John Campbell, 415-396-0523 John.M.Campbell@wellsfargo.com. Forgot your username? head of Community Banking and Consumer Lending. After he announced his retirement, Fannie Maes board determined that he should receive 95 percent of his performance-based deferred salary, having successfully led the Single-Family business during the COVID-19 pandemic and met or exceeded all 2020 objectives. 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. premier mortgage lender into a bright future. In a letter to Federal Reserve Chair Jerome Powell, Republican members of the Senate Banking Committee urge the central bank to be mindful of tailoring rules in its ongoing "holistic" capital review. The company had previously partnered on its credit cards with Barclays. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. DeVitos appointment follows Macks appointment to lead Wells Fargos $900K. DeVito was head of home lending at Wells Fargo at the time he stepped down from the depository bank. Under Review. internet (wellsfargo.com) and mobile banking, and has offices in 42 DeVito, who spent more than two decades at Wells Fargo before retiring last year, will take the helm of the GSE on June 1. Our model gets smarter over time as more people share salaries on Glassdoor. in Daily Dose, Featured, Government, Journal, News The company also said that Laura Schupbach 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. The technical storage or access that is used exclusively for statistical purposes. The typical Wells Fargo Vice President salary is 43,03,334 per year. Senior EVP, Chief Financial Officer. The board of directors of Freddie Mac has announced that, effective June 1, 2021, Michael J. DeVito will take over as CEO. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. Insights, products, and technology to help you grow your business. will continue to report to Mack as head of Wells Fargo Auto (formerly 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. 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. Get the week's leading headlines delivered straight to your inbox. 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. 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. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. DeVito holds a Bachelor of Science degree in accounting from Ithaca College in Ithaca, New York. He has nearly 29 years of experience in the financial This employer has claimed their Employer Profile and is engaged in the Glassdoor community. At various points during his tenure, he served as Head of Home Lending Production, Home Lending Servicing, Default Servicing, Loan Workout, Head of Education Financial Services, and Mortgage Retail Underwriting and Operations. At Wells Fargo, DeVito worked in loan origination, servicing, portfolio management, secondary marketing, and risk. Your email address will not be published. In the mean time, as long as Fannie and Freddie are in conservatorship, taxpayers are on the hook to provide up to $254 billion in assistance should they run into trouble again. The technical storage or access that is used exclusively for anonymous statistical purposes. Sign up for Individual Select membership today. You can sign up for additional alert options at any time. Fargo Stories. Customer Services & Support Based on 12543 salaries Teller 4260 salaries Bank Teller 2695 salaries View More Finance & Accounting Based on 12288 salaries Financial Analyst 545 salaries Your email address will not be published. He retired from the company in September of 2020. our customers and help them succeed financially.. countries and territories to support customers who conduct business in View Michael J Devito's profile for company associations, background information, and partnerships. News, insights and perspectives from Wells Fargo he was named head of default servicing. 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. "His background and experience make him an excellent choice to lead Freddie Mac at this time.". Not consenting or withdrawing consent, may adversely affect certain features and functions. DeVito was previously head of Home Mortgage Servicing and will succeed Codel, who was named head of WFHM last month. Salary estimates are based on 27.2k Wells Fargo India latest salaries received from various employees of Wells Fargo India. DeVito will report to Mary Mack, This website uses cookies to enhance user experience and to analyze performance and traffic on our website. See the complete profile on LinkedIn and discover Michael's connections and jobs at similar companies. There seems to be a problem with your Inman Select Membership. Education Financial Services for nearly three years and led retail The average Wells Fargo salary ranges from approximately 1,77,744 per year for Associate to 15,90,136 per year for Senior Information Technology Specialist. Oct 2011 - Oct 20165 years 1 month. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. I am delighted to announce that, after an exhaustive search, the board of directors has chosen Michael DeVito as the next CEO of Freddie Mac, said Sara Mathew, Non-Executive Chair of Freddie Macs board of directors. In brief remarks about the Federal Reserve's handling of COVID-19 crises, the governor said the central bank's asset-buying program is taking longer to unwind than its emergency lending facilities. We provide links to external websites for your convenience. Laura Schupbach to continue leading Wells Fargo Auto, and John Rasmussen to continue leading Personal Lending Group. Glassdoor has salaries, wages, tips, bonuses, and hourly pay based upon employee reports and estimates. Michael is a well-regarded leader with proven success in virtually every aspect of the mortgage industry. Thank you for subscribing to Morning Headlines. 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. Most recently Michael exercised 73,068 units of WFC stock worth $3,480,229 on 18 June 2022.. C. Benson Fannie Maes highest paid executive would act as interim CFO while a search for a permanent replacement is conducted. Wells Fargo pays an average salary of $100,074 and salaries range from a low of $85,623 to a high of $116,512. If so please contact customer support at (510) 658-9252, Password Reset Instructions have been sent to. finance and commercial services. Education Financial Services for nearly three years and led retail 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. assumed in October 2015, and before that ran its mortgage servicing