Wells Fargo & Co. has named Kristy Fercho its new head of Wells Fargo Home Lending, replacing Michael DeVito, who is retiring after more than 23 years with the company.
Fercho, who will join the company at the beginning of August, has 18 years of leadership experience in the mortgage industry, most recently with Flagstar Bank, where she has served since 2017 as president of the company’s mortgage division. 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 U.S. and also served in customer engagement and human resources roles. Fercho began her career at Baxter International before moving to Pepsico Inc.
“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,” says 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.”
Fercho currently serves as vice chair of the board of the Mortgage Bankers Association, vice chair of the MBA’s Diversity and Inclusion Advisory Committee, co-chair of the Affordable Housing Council, and a member of its Residential Board of Governors. She also serves on the boards of City Year and the Detroit Zoological Society.