Wells Fargo has a new home loan sales leader

Sandra Ho, a managing director at JPMorgan Chase, will join Wells Fargo next week as its head of home lending sales, Wells Fargo said in a statement Monday.

It is a newly created role, and Ho will lead Wells Fargo’s consumer direct and distributed sales forces. She will report to Serhat Oztop, head of sales and retail transformation for Wells Fargo Home Lending.

“Sandra has a proven track record of transforming sales organizations and I’m excited to welcome her to Wells Fargo,” Kevin Reen, head of Wells Fargo Home Lending, said in a statement. “The consolidation of our consumer direct and distributed sales teams under Sandra’s leadership will help accelerate our ongoing transformation to de-risk and simplify our business.”

Wells Fargo has pulled back on mortgage lending in the wake of multiple scandals and billions of dollars in fines. The San Francisco-headquartered bank was the nation’s largest depository mortgage lender for years. But in January 2023, the bank announced that it was officially exiting the correspondent channel and reducing its servicing portfolio, which at the time was the country’s largest.

Over the past two years, Wells Fargo has focused more on serving existing customers and creating special purpose credit programs.

At JPMorgan Chase, Ho held leadership positions in the firm’s home lending, consumer and small-business payments divisions. Most recently, she served as managing director in the consumer and small-business payments division.

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