Michael DeVito, Head Of Wells Fargo Home Lending (Photo: Business Wire)

Wells Fargo & Company (NYSE: WFC) announced today that Michael DeVito has been named head of Wells Fargo Home Lending, a role he has held on an interim basis since November 2017. DeVito will report to Mary Mack, head of Community Banking and Consumer Lending.

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Michael DeVito, head of Wells Fargo Home Lending (Photo: Business Wire)

Michael DeVito, head of Wells Fargo Home Lending (Photo: Business Wire)

DeVito's appointment follows Mack's appointment to lead Wells Fargo's Consumer Lending business in addition to Community Banking, which was announced in December 2017. The company also said that Laura Schupbach will continue to report to Mack as head of Wells Fargo Auto (formerly Wells Fargo Dealer Services), which includes direct and indirect auto finance and commercial services. In addition, John Rasmussen will continue to lead the Personal Lending Group, including student lending and personal lending, and report to Community Bank Customer Segments leader Andy Rowe.

"Michael is a seasoned and respected leader, with deep experience in both mortgage sales and servicing," stated Mack. "He has demonstrated the ability to manage large, complex operations, and he has a true passion for designing innovative experiences that support our customers' needs. I am confident that he is the right choice to lead the nation's premier mortgage lender into a bright future. Under this new structure, Michael, Laura and John will advance our efforts to create an even more holistic approach to delivering retail banking and lending services to our customers and help them succeed financially."

DeVito most recently led mortgage production for the company, a post he assumed in October 2015, and before that ran its mortgage servicing operations. He has nearly 29 years of experience in the financial services industry, including the past 22 years at Wells Fargo, and has served on the home mortgage executive management team since 2011, when he was named head of default servicing. DeVito also was head of Education Financial Services for nearly three years and led retail fulfillment for Home Lending. Previously, he was a leader in Home Lending's early e-business initiatives and managed retail home equity for Norwest Corporation.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2 trillion in assets. Wells Fargo's vision is to satisfy our customers' financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investments, mortgage, and consumer and commercial finance through more than 8,300 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 263,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune's 2017 rankings of America's largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

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