Items Tagged with 'Fifth Third Bank'

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  • Fifth Third will give low-income borrowers $1,500 to cover mortgage closing costs

    New loan program can be combined with down payment assistance
    Aiming to boost homeownership for low-income families, Fifth Third Bank is rolling out a new mortgage lending program that will provide as much as $1,500 that certain borrowers can use to cover their closing costs. Fifth Third announced Monday that it is launching the “Fifth Third Community Mortgage,” which provides closing cost assistance to low-income borrowers or borrowers buying a home in a low-income community.
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  • Fifth Third Bank app combats student debt

    Customers paid off $1 million in student debt by rounding up debit card purchases
    The weight of student debt can often be paralyzing, however, an app launched by Fifth Third Bank has reportedly freed up $1 million worth of loan debt for its customers. The Fifth Third Momentum is available to any Fifth Third debit card user and can be used with more than 30 major student-loan servicers, both public and private.
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  • Fifth Third Bancorp to buy MB Financial for $4.7 billion

    Fifth Third is buying out MB Financial's shareholders for $4.7 billion
    Fifth Third Bancorp announced today it is merging with Chicago-based MB Financial. Fifth Third has been investing heavily in the Chicago area during the last two years, and this is the bank's latest move in its push for Chicago investments.
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  • Fifth Third Bank promotes Phillip McHugh to head of consumer bank

    Replacing Chad Borton, who is leaving for USAA Federal Savings Bank
    Fifth Third Bancorp announced recently that it is promoting Phillip McHugh to become the bank’s new head of its consumer bank, which includes retail banking, mortgage, auto lending, business banking, collections and credit centers. McHugh is replacing Chad Borton, who is leaving Fifth Third to become president of USAA Federal Savings Bank, the bank said.
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  • Fifth Third to pay $85 million for faulty FHA mortgages

    Bank admits to failing to self-report defective mortgages
    Fifth Third Bancorp will pay $85 million as a part of settlement with the federal government over allegations that the bank failed to self-report mortgages it knew to be defective, causing millions of dollars in losses to the Department of Housing and Urban Development.
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