The nation’s biggest mortgage servicer has a new chief to oversee the business. Meanwhile, lesser-ranked rivals have been busy improving their own executive ranks.

The new head of mortgage servicing at Wells Fargo & Co. is Jeff Smith, a July 27 news release stated. He was promoted from servicing and customer excellence risk in the Consumer Lending Real Estate Compliance and Operational Risk group.

Smith, who joined the San Francisco-based company 10 years ago, has more than three decades in the financial services industry. Among his previous employers is JPMorgan Chase & Co.

Source: Mortgage Daily