Lord Supper Differences in Belief and Practice

I was told by a LCMS pastor that during words of institution that it is a blessing and the hosts are considered blessed. It was not until the host was taken in the mouth that it becomes Jesus. Although remaining hosts are saved respectfully until the next time they are blessed, the real presense is not believed to remain as in the Roman Catholic church.

Can any LCMS people help explain what the correct LCMS teaching is? is WELS the same?
When does the host become Jesus?
Why doesn’t it remain as Jesus?
Who decided that it doesn’t remain Jesus, as the Catholics teach?

Do the Early Fathers teach that it remains Jesus? Who? Where?

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