Jeff Taylor, a nearly 40-year veteran of the mortgage industry, has announced his retirement from Wells Fargo Home Mortgage.  Based in Greensboro, N.C., Taylor served as vice president and national program manager for Wells Fargo’s Senior Products Group and helped lead the company to become the nation’s leading retail originator of reverse mortgages.

“During his years with Wells Fargo, Jeff uniquely positioned us to serve the needs of senior Americans.  He has a great understanding of the reverse mortgage product and he clearly understands the financial needs of mature homeowners,” said Greg Gwizdz, national retail sales manager, Wells Fargo Home Mortgage.  His work will leave a lasting legacy at Wells Fargo.  He built what has become the nation’s leading reverse mortgage team, and his leadership was outstanding.  We will miss him.”

Tim McDonald, a 24-year mortgage-industry veteran, was named the new national program manager for Wells Fargo’s Senior Products Group.  Based in Golden, CO, he is taking the reins of the reverse mortgage business line.

“Wells Fargo is among only a handful of lenders that offer a network of reverse mortgage specialists across the country,” said Gwizdz.  “I am looking forward to working with Tim as the new program lead.  He is a longtime respected leader in our company and is known for doing what’s best for customers.  He will have a great impact on Wells Fargo’s Senior Products Group.”

While Taylor is retiring from Wells Fargo, he isn’t leaving the reverse mortgage business.  In an email to RMD, Taylor said that he formed Wendover Consulting, Inc. and plans to spend significant time focusing on reverse mortgage product enhancement issues and the many challenges companies face in the industry today.