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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.


Fifth Third Increases Home Loan Investments

$4.5 billion in Q3 production

Oct. 20, 2011

By MortgageDaily.com staff


Fifth Third Bancorp reported a 45 percent quarter-over-quarter improvement in residential originations. The bank also lifted its residential holdings.

With $4.5 billion in originations, business was $1.4 billion better than in the second quarter, the Cincinnati-based bank-holding company reported Thursday.

Production was weaker, however, then third-quarter 2010 originations of $5.6 billion.

So far this year, $11.5 billion in home loans have been funded by Fifth Third.

The third-party mortgage servicing portfolio finished September at $56 billion, the same as in the prior report. But Fifth Third has grown the servicing portfolio from $52 billion during the same quarter last year.

On Fifth Third's balance sheet were $10.2 billion in residential loans, more than the $9.8 billion owned three months prior and the $8.0 billion owned 12 months prior.

Home-equity loans on the balance sheet slipped to $10.9 billion from $11.0 billion and were $11.8 billion in the same period last year.

Assets also included $9.9 billion in commercial mortgages. The company owned $10.2 billion in commercial real estate assets as of June 30, while CRE loans were $11.0 billion in the year-prior quarter.

An additional $1.7 billion was owned in commercial construction loans, down from $1.8 billion in the prior period and $2.3 billion in the third quarter of last year.

The parent company earned $534 million before taxes, a little stronger than $511 million earned in the three months ended June 30. A noticeable improvement has been made from the third-quarter 2010, when earnings amounted to $307 million.

The staff size as of Sept. 30 was 27,172, growing from 20,953 three months earlier.

Fifth Third and its affiliates operated 1,314 full-service banking centers as of Sept. 30.

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