Exclusive: Wells Fargo’s New Head Of Diverse Segments Plans to Help Black Americans Benefit on Their Path to Homeownership

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Kristy Fercho, who has worked in housing for more than a decade, including with Fannie Mae, has a goal that is simple yet effective and important. “My passion has always been to put Black people in homes,” Fercho tells BLACK ENTERPRISE. Fercho has been doing just that with Wells Fargo since 2020. The bank’s former head of home lending was recently promoted to the head of Diverse Segments, Representation, and Inclusion (DSRI), where she develops and releases initiatives that will benefit Black Americans on their path to homeownership. The USC and St. Joseph’s University alumna sports a diverse professional background, spending six years in healthcare selling hospital supplies and another eight and a half with the Frito-Lay/PepsiCo company in human resources, which was where she was when 9/11 happened. That pushed her to start looking for a new position. She quickly got a call from a Fannie Mae headhunter and spent the next 15 years working in housing before pivoting to Flagstar Bank, where she served as the president of mortgages.  While Fercho was working at Flagstar another significant event occurred which got her thinking about what she wanted to do in her career.  “This time it was George Floyd’s...