twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

New Business Plummets at Fifth Third

Q4 mortgage originations drop 46% from Q3

Jan. 23, 2014

By Mortgage Daily staff

Fifth Third Bancorp's quarterly mortgage production was down by more than half from a year earlier. The good news is that delinquency was lower and the servicing portfolio grew.

Fourth-quarter residential loan originations were $2.6 billion, according to earnings data reported Thursday.

Business slid from $4.8 billion in the prior three-month period and plunged from $7.0 billion in the final three months in 2012.

The latest activity brought full-year production to $22.3 billion, not as good as the $25.1 billion originated during all of 2012.

Refinance share fell to 49 percent in the fourth quarter from 57 percent in the prior period.

Fifth Third finished 2013 with a third-party mortgage servicing portfolio of $69.159 billion, up from $68.987 billion the previous quarter. The bank serviced $62.465 billion for investors as of the end of 2012.

The Cincinnati-based company owned $12.680 billion in residential loans, off from $12.534 billion at the end of the previous quarter but higher than $12.017 billion at the end of the previous year.

Mortgage delinquency of at least 90 days fell to 0.52 percent from 0.58 percent and was 0.62 percent a year earlier.

Another $9.246 billion in home-equity loans were on the balance sheet, slipping from $9.356 billion as of Sept. 30 and dropping from $10.018 billion as of Dec. 31, 2012.

Delinquency on the brokered portion of the HEL portfolio was deemed "not meaningful," falling from the prior quarter's rate of 0.88 percent and 1.05 percent at the end of the prior year.

On direct-originated HELs, the past-due rate was also considered "not meaningful," down from 0.43 percent three months earlier and 0.50 percent a year earlier.

The commercial mortgage servicing portfolio closed out last year at $0.274 billion, slipping from $0.284 billion at the end of September. A year earlier, the third-party commercial mortgage servicing portfolio was $0.325 billion.

Commercial mortgages in Fifth Third's investment portfolio inched up to $8.066 billion from $8.052 billion at the end of third quarter but were down from $9.103 billion at the end of the fourth-quarter 2012.

The delinquency rate on commercial real estate loans was considered "not meaningful." At the end of 2012, the rate was 0.24 percent.

Another 1.039 billion in commercial construction loans were on the books, more than $0.875 billion owned three months earlier and $0.698 billion on the books 12 months earlier.

Delinquency was "not meaningful" on this portion of the investment portfolio, the same as in the previous quarter. As of the fourth-quarter 2012, the rate was 0.14 percent.

Outstanding counterparty claims finished December at $46 million.

At the bank-holding company, income prior to income taxes fell to $561 million from $604 million but improved from $540 million in the final three months of 2012.

"Fifth Third reported full year net income available to common shareholders of $1.8 billion in 2013, which marks the best result in our company's history and represents 17 percent growth from strong 2012 earnings," said Kevin T. Kabat, vice chairman and chief executive officer of Fifth Third said in the report.

As of the close of last year, 19,446 full-time employees were on staff, fewer than 20,256 at the end of September and 20,798 at the end of 2012.

The number of banking centers was down by six to 1,320 as of Dec. 31, 2013.

Fifth Third profile

next story

back to current headlines

Bank news

Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders