Wells Fargo picks Michael DeVito to lead home lending efforts

Wells Fargo has found the next leader of its home lending efforts, naming one of its own as the permanent replacement for Franklin Codel, who was fired late last year for misconduct. After Codel was fired, the bank named Michael DeVito, who served as head of mortgage production, to serve as the interim head of home lending. Now, Wells Fargo is taking the "interim" tag off of DeVito's title.