Wells Fargo has named Michael DeVito head of mortgage production, effective October 1, 2015.
Devito will succeed Franklin Codel, whom will now serve as head of mortgage lending at Wells Fargo Home Lending, the company said last month.
In his new role, he will be responsible for company's retail and correspondent lending divisions. In addition, he will also oversee all production functions and his teams will be responsible for sales, operations, quality, compliance, underwriting, and support.
DeVito has over 26 years of experience in the financial services industry, which includes 19 years at Wells Fargo.
In his previous position, he served as the head of Home Mortgage Servicing. He also spent two years as head of Default Servicing, was head of Education Financial Services for nearly three years, and also led Retail Fulfillment for Mortgage.
“Michael DeVito is a strong leader who has seen first-hand the difference we make for our customers – through loan origination, servicing, and home preservation,” said Codel.
He added, “He truly values the importance of homeownership and is extremely focused on serving the customer. He comes to his new role with a broad financial services background, a deep understanding of Wells Fargo, and a strong reputation for energizing teams."