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Eye on the Industry: Updates on Wells Fargo, Interfirst

From team expansions and tech innovation to catching the financial pulse of mortgage
companies, learn the latest industry news in this update.

Kristy FerchoWells Fargo & Company announced that Kristy Fercho will join the company as the new head of Wells Fargo Home Lending. Fercho has 18 years' leadership experience in the mortgage industry and will replace Michael DeVito, who has announced plans to retire later this summer after more than 23 years with Wells Fargo. Fercho will join the company from Flagstar Bank, where she has served since 2017 as President of the company’s mortgage division. Under Fercho’s leadership, the mortgage business flourished, expanding to over 87 retail home lending centers and 2,300 correspondent and broker relationships. Prior to joining Flagstar, she spent 15 years with Fannie Mae, where she led the strategy and business performance of single-family customers in the western United States and also served in customer engagement and human resources roles.

“Kristy is a customer-first business leader with deep home lending experience. She has been an inspiring and vocal leader across the mortgage industry while driving transformational growth at Flagstar,” said Mike Weinbach, CEO of Consumer Lending at Wells Fargo. “Buying a home remains one of the most important financial decisions our customers will make in their lifetime, and Kristy is the right person to help us ensure that no one can do it better for them than Wells Fargo.”

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Interfirst Mortgage Company, a private equity-backed mortgage originator, announced Lou Friedmann has been named Chief Marketing Officer.

Friedmann will also be part of the company’s leadership team. Friedmann brings a proven track record building online financial brands and establishing successful customer acquisition programs. In his new role, he will lead all of Interfirst’s strategic marketing and communications as the Company relaunches under a new business model that includes integrated retail and wholesale residential mortgage origination offering.

“Lou is widely admired as a marketing leader and brand builder in the financial services industry,” commented Mark Freedle, EVP, Production of Interfirst. “He has a deep understanding of the mortgage industry, successful customer acquisition strategies, and our proprietary technology platform. This knowledge will be invaluable in accelerating the growth of our wholesale channel and the launch of our branded entry into the retail market. We are extremely pleased that Lou has rejoined Interfirst and is again part of our leadership team.”

About Author: David Wharton

David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 15 years of experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at David.Wharton@theMReport.com.
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