DES MOINES - Wells Fargo Home Mortgage Inc. named Michael Lepore executive vice president of institutional lending.
Mr. Lepore is to start July 10. He will oversee origination of loans through brokers and correspondents and report to Ben C. Smith, executive vice president of cross-selling, home services, and institutional lending.
Mr. Lepore joins Wells from Freddie Mac, where he worked for five years, most recently as vice president of sales for the north-central region. He helped negotiate last year's agreement between Freddie and the Wells unit, then called Norwest Mortgage, under which the lender agreed to sell most of its conventional production to Freddie, cutting out Fannie Mae.
He fills a spot vacated last year by Patrick M. Sheehy, who left to join Freddie Mac.
Before Freddie, Mr. Lepore spent 12 years at GE Capital Mortgage.