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.

Mixed Results at Fifth Third

$3.8 billion Q2 production

July 23, 2010

By staff

Fifth Third Bancorp swung to a quarterly profit as originations increased on a quarterly basis. But mortgage banking revenue fell as agency repurchases of securitized loans put a dent in income.

The Cincinnati-based firm reported Thursday that second-quarter home-loan originations were $3.8 billion, edging up from $3.5 billion three months earlier but sinking from a revised $7.2 billion a year earlier.

The mortgage servicing portfolio ended last month at $51 billion. The portfolio grew from $50 billion on March 31 and $43.5 billion on June 30, 2009.

Fifth Third closed out the second quarter with $7.7 billion in residential loans, less than $7.9 billion at the end of the prior quarter and $8.5 billion a year ago.

Home-equity holdings were $12.0 billion, also lower than $12.2 billion at the end of the first quarter and $12.5 billion on June 30, 2009.

Commercial mortgage assets declined to $11.5 billion from $11.7 billion on March 31 and $12.4 billion on June 30, 2009. Commercial construction loans fell to $3.0 billion from $3.3 billion at the end of the first quarter and $4.5 billion a year prior.

Mortgage banking net revenue fell to $114 million from the first quarter's $152 million and the second-quarter 2009's $147 million.

"Second quarter 2010 results were negatively affected by $6 million, or 3 bps, of higher premium amortization,
including the effect of GSE repurchases of delinquent loans out of mortgage-backed securities," the report said.

Net servicing revenue prior to MSR valuation adjustments was $29 million, lower than the first quarter's $31 million but a major improvement from the second-quarter 2009's $ 2 million.

The bank swung to a second-quarter profit of $192 million from a $10 million first-quarter loss. A year ago, profits were $882 million.

President and Chief Executive Officer Kevin Kabat explained that the improvement in earnings reflected "continued strong pre-provision
earnings and significant further improvement in credit results."

Fifth Third said headcount finished June at 20,479, higher than 20,038 at the end of March but lower than 20,702 on June 30, 2009.

Fifth Third profile

next story

back to current headlines

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.

Mortgage Backed Securities | MBS News | MBS Statistics
News about commercial and residential mortgage-backed securities. Stories about ratings actions and changes to servicer ratings. Studies and reports about the performance of securitizations and problem vintages and classes. Subprime, Alt-A, home equity and j u m b o analysis.

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