Magazine article American Banker

Norwest Names Wissinger to Be Managing Director, Overseeing Sales Group

Magazine article American Banker

Norwest Names Wissinger to Be Managing Director, Overseeing Sales Group

Article excerpt

Norwest Mortgage Inc. has placed longtime executive Peter Wissinger in charge of its entire sales group - one of the largest of its kind in the mortgage industry.

As managing director of retail operations, Mr. Wissinger will oversee 3,000 loan officers who offer mortgages for the Des Moines unit of Norwest Corp. The sales group works from 700 branches in 50 states.

Mark Oman, president of Norwest Mortgage, said Mr. Wissinger is well suited to his new position.

As a mortgage originations executive, "his innovation and leadership have been very instrumental" in helping the organization become a dominant lender, Mr. Oman said.

Norwest originated $12.3 billion of mortgages as of midyear. The company was servicing $100 billion, a 40% increase from the yearend 1994 level.

Mr. Wissinger's appointment marks the first time Norwest has had just one executive overseeing the mortgage sales team. The move "gives us a unified front" as the operation grows, a Norwest Mortgage spokeswoman said.

Mr. Wissinger, who has had sales management responsibilities with Norwest Mortgage for the past decade, believes in giving his troops significant autonomy.

Area managers "run the local branch like they own it," he said. "This fosters a very empowered, involved management culture."

The company is giving its salespeople additional power by outfitting them with upgraded laptop computers. The systems allow them to immediately access credit reports for prospective borrowers and to respond more quickly to loan applications. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.