Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Wells Fargo hires mortgage tech chief from JP Morgan

05/29/2019

Download PDF

Wells Fargo announced Tuesday it had hired away a chief technology executive from rival JP Morgan Chase to lead its own lending tech division.

Steve Hagerman

In his new role, Steve Hagerman will serve as head of consumer lending technology and will “be responsible for supporting Wells Fargo’s new and emerging technology platforms, allowing the consumer lines of business to evolve and grow their product sets,” according to a company statement. Hagerman will be based in Wells Fargo’s Charlotte, North Carolina, office and will step into the new job in early August.

Wells Fargo announced Hagerman’s hiring along with that of chief information security officer Gary Owen. Saul Van Beurden, Wells Fargo’s technology vice president, said in a statement that both men “bring a wealth of technology experience to our organization.”

Hagerman most recently served as a chief technology officer, managing director and head of home lending originations technology at JP Morgan Chase. In various roles, Hagerman spent about 17 years at that bank. Hagerman began his career as an intelligence systems chief for the U.S. Marine Corps. in the early 1990s.

Wells Fargo has in recent years been beset with scandals, including admitting that it foreclosed on hundreds of people thanks to a “calculation error” and facing billions in fines for its lending practices. In 2017, the bank prompted Mary Mack, a veteran of the company, to replace its consumer lending chief, who left after being accused of disparaging a former executive.

The race is on for real estate web APIs What questions MLSs and industry leaders need to ask right now READ MORE

Meanwhile, JP Morgan Chase has pushed hard into the digital sphere during Hagerman’s tenure in an attempt to reach would-be millennial homebuyers. Last year, for example, the company set up Pinterest boards of luxury homes. The bank has also worked to offer consumers digital mortgages that they can get via their smartphones.

These efforts have come as consumers increasingly turn away from traditional banks when borrowing for a home. They also epitomize the way incumbent players in the real estate industry are scrambling to respond to both digitally empowered consumers and waves of startups that are actively trying to disrupt the sector.

The trend extends far beyond just banking as well; the existence of iBuyers, smart home technology, a flood of venture capital and other factors have all pushed the real estate world into a state of unprecedented change.

Wells Fargo did not immediately respond to Inman’s request for comment Tuesday.

However, Van Beurden added in his statement that both Owen and Hagerman will “be critical as we continue to provide innovative and secure banking technology to our customers.”

Email Jim Dalrymple II

How do you stay ahead in a changing market? Inman Connect Las Vegas — featuring 250+ experts from across the industry sharing insight and tactics to navigate threat and seize opportunity in tomorrow’s real estate market. Join more than 4,000 top producers, brokers and industry leaders to network and discover what’s next, July 23-26 at the Aria Resort. Hurry! Tickets are going fast, register today!

Thinking of bringing your team? There are special onsite perks and discounts when you buy tickets together. Contact us to find out more.

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Mission Chronicle Newsletter July 24, 2023

    Mortgage rates continued to press downward last week after the previous week's CPI data pointed to e...

  • Mission Chronicle Newsletter Feb 20, 2023

    Despite the recent downward trend in mortgage rates and hopes that the Fed was nearing the end of it...

  • Mission Chronicle Newsletter Feb 6, 2023

    The Federal Reserve meeting ended as market participants expected, with a quarter-point increase and...

  • Mission Chronicle Newsletter Dec 26, 2022

    Mortgage rates held relatively steady last week as most economic news came in better than expected.C...

  • Mission Chronicle Newsletter Dec 12, 2022

    Rates managed to move slightly downward last week as recession fears grew amid hopes that the Fedis ...

  • Mission Chronicle Newsletter Dec 5th 2022

    Mission Chronicle Newsletter Dec 5th 2022. Platforms: Browser, mobile-responsiveIdeal for: Leasing a...

  • Inman Review: Tenants and leasing teams get better connected with RentTango

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Tech Review: Smart Alto puts people first in its innovative lead qualification solution

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Refreshed and nurture-savvy, Market Leader’s CRM deserves your attention

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 4 tips to improve your negotiation skills

    In today’s luxury real estate market, strong negotiation skills are an asset—you might even say ...

October 2024
Mon Tue Wed Thu Fri Sat Sun
 123456
78910111213
14151617181920
21222324252627
28293031  

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...