Bank of Utah announced an important change in its residential construction and mortgage lending departments. Eric DeFries has been promoted from vice president-team lead residential construction and consumer lending, to senior vice president mortgage risk and operations.

DeFries will now oversee the bank’s mortgage operations group, which includes underwriting, closing, servicing, shipping/post-closing, construction draws, construction portfolio and the secondary market functions. He will also serve as the department's point of contact regarding regulatory matters. DeFries has worked in the banking industry for 10 years.

Bret Wall, the bank’s senior vice president mortgage production, will continue to lead the mortgage lending production team that includes all loan officers and originators, mortgage loan processors and assistants, mortgage production support and loan processor management.

“This structure will help the bank accommodate the tremendous growth the department is experiencing and help build upon the phenomenal team of much-appreciated managers and employees now in place,” said Bank of Utah President Douglas L. DeFries. 

“Mortgage production continues to be one of the primary sources of non-interest income for the bank and operates much like a mortgage banking company within the Bank of Utah,” added DeFries. “Its competitive products and rates make it a leader in the mortgage finance industry here in Utah.”

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