Wells Fargo Mortgage Chief Heid to Retire

Phil Hall

Aug 12, 2015

The chief of the nation’s largest mortgage lender has announced his retirement. Michael J. Heid (pictured right), executive vice president and head of Wells Fargo Home Lending, is leaving his post after 11 years as the head of the Mortgage Division and nearly 28 years with the San Francisco-based financial institution.

Heid, 58, will be succeeded by Franklin Codel (pictured left), 50, currently executive vice president and head of Mortgage Production, effective Oct. 1. Heid, who will stay with Wells Fargo through the end of the year, did not offer a reason on why he decided to retire.

Heid served as the Mortgage Group’s chief financial officer and head of Loan Servicing before being named co-president in 2004 with Cara Heiden. He became president in 2011. Heid has been a high profile leader within the mortgage industry–he currently serves as a board director for the Mortgage Bankers Association (MBA) and is chairman of the Lending and Leasing Committee for the Financial Services Roundtable (FSR), and was previously chairman of the Fannie Mae National Housing Advisory Council.

“Over a distinguished career spanning three decades, Mike has helped our company and the entire housing industry navigate unprecedented challenges,” Wells Fargo Chairman and CEO John Stumpf said in a statement.

Link copied

C-Suite Strategies

Eye, Eye Sir

When I widened my perspective, solutions seemed to fall into place.

Perspective has many definitions, such as the ability to understand what is important and what isn’t. And the capacity to view things in their true relations or relative importance. Consider this excellent example of how differently people view the same subject in this anci...

C-Suite Strategies

Balancing The Busy

What do you do when you’ve got too much business?

I got another call today asking me to speak at an event, but – I’ve been getting this caveat more and more lately – no one wants me to talk about origination tips. Why? They “have enough business” already. It’s great that everyone is busy now, but I’m worried no one is plann...