The former head of the biggest residential lender in the country has joined the board of directors of a major mortgage service provider.
Mark C. Oman joined Norwest Financial in 1979. By the time Norwest acquired Wells Fargo & Co. in 1998, Oman had ascended to chief executive officer of Norwest Mortgage.
Oman retired from Wells Fargo in 2011 as senior executive vice president over Wells Fargo’s home and consumer finance group.
During his last year overseeing the mortgage business, Wells Fargo ascended to the No. 1 lender spot with $357 billion in home loan production. The San Francisco-based company has held the top-lender crown periodically throughout the first decade of the century.
Oman originally planned on retiring in 2008 but was convinced by then-Wells Fargo chairman, president and chief executive officer John Stumpf to stay on until the Wachovia Corp. integration was completed.
During one intervening year, 2009, Oman earned nearly $3.9 million
On Wednesday, First American Financial Corp. announced that Oman has joined its board of directors.
Oman already serves on the boards of the University of Northern Iowa Foundation and the Greater Des Moines Community Foundation.
He holds a bachelor’s degree from the University of Northern Iowa, Cedar Falls.
“Our ability to execute on our strategy to grow our core businesses and improve our customers’ experience has been greatly enhanced by the addition of Mark to our board,” First American Financial Corp. Chairman Parker S. Kennedy said in the news release. “Mark brings skills that are critical in our competitive and changing environment: a deep insight into the needs of our customers, extensive experience in the mortgage industry and a demonstrated history of leadership.”
