Tag Archives: Fifth Third

Bill Maguire of Freddie Mac discusses new innovations in default management technology that are removing barriers and creating a new age of instantaneous workout decisions.

One of the country's top superregional banks announced a change at the top: Fifth Third Bancorp promoted regional president Michelle Van Dyke to president of Fifth Third Mortgage Company, effective immediately.

Fifth Third Bancorp has reached a settlement agreement with the Justice Department in which it will pay more than $1.5 million over allegations of loan discrimination against applicants with disability status. "Today's announcement holds lending institutions accountable for their actions, and is a reminder that every American has the right to apply for a home loan and live in the community of their choice," said Gustavo Velasquez at HUD.

Fannie Mae released its annual Servicer Total Achievement and Rewards (STAR) results, naming Fifth Third Bank as its sole Five STAR designee for overall performance and customer service. "We are pleased to see servicers' continued efforts to improve their operations, help homeowners and meet Fannie Mae's goals," said Leslie Peeler, SVP of the National Servicing Organization at Fannie Mae.

In a letter issued to brokers Monday, Fifth Third Mortgage president Bob Lewis revealed the bank is exiting the wholesale business to focus third-party origination on correspondent lending. “While this was an extremely difficult decision to make, we intend to build on our leadership position in the correspondent market and remain committed to purchasing loans from smaller financial institutions and independent mortgage companies,” Lewis said in the letter.