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Wells Fargo Mortgage Executives Get New Responsibilities.

Mortgage Servicing News

| August 02, 2004 | COPYRIGHT 2004 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Wells Fargo & Co., San Francisco, has transferred Pete Wissinger, the chief executive of Wells Fargo Home Mortgage here from that job to a position where he will coordinate the company's retail insurance business and create and execute a companywide strategy for its activities in this area.

Mr. Wissinger's responsibilities at the nation's second largest mortgage servicer are being taken over by two people, Cara Heiden, the head of National Consumer Lending, and Mike Heid, WFHM chief financial officer. Both are executive vice presidents of Wells Fargo Bank NA.

Ms. Heiden will be responsible for institutional lending, retention, marketing and cross-sell, servicing and post-closing, as well as retaining her role running National Consumer Lending.

Mr. Heid's new responsibilities include capital markets and credit, strategic design and integration, and the Wells Fargo Three-Step Refinance System. He will still oversee the finance and corporate real estate teams.

Both Ms. Heiden and Mr. Heid will report to Mark Oman, group executive vice president of the Home and Consumer Finance Group.

Mr. Wissinger joined Norwest Mortgage, a forerunner to WFHM, in 1984 as a vice president and branch manager. He then rose through the ranks to become regional manager, division manager and national production manager.

In 1997, he began managing the company's servicing portfolio. Since November 1998, Mr. Wissinger has served as group managing director, sales and operations.

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Source: HighBeam Research, Wells Fargo Mortgage Executives Get New Responsibilities.

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