Items Tagged with 'Fifth Third'

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  • Fifth Third exec Jelena McWilliams to become FDIC chair

    Former Senate staffer confirmed to replace Martin Gruenberg
    President Donald Trump’s remaking of the country’s financial regulatory system is about to take another step forward, as another of Trump’s handpicked choices is about to take over at one of the nation’s top financial regulators. On Thursday, the Senate voted to approve Jelena McWilliams to take over as the next chair of the Federal Deposit Insurance Corp.
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  • One year later, here is how Fifth Third's no-down mortgage program is performing

    Firsthand account from a borrower, too
    This time last year, Fifth Third Mortgage revealed its exclusive Down Payment Assistance Program, which offered 3% of the purchase price in down payment assistance, leaving the borrower to put zero down on the home. Since no-down mortgage programs are still hard to come by, HousingWire visited with the lender for an update on the program to see how it’s performed. Spoiler alert: It’s performing well.
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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 3Q mortgage results positive sign for rest of industry?

    Average residential mortgage lending increases 10% year over year
    The mortgage market is projected to perform much better in the third quarter than originally expected. With the third-quarter results in for one of the first lenders, it looks like this could be true. Fifth Third Bancorp not only posted an increase in residential mortgage loan portfolio balances, but it also posted an increase in originations.
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  • Fifth Third Bancorp names new SVP and head of mortgages

    Brings extensive mortgage expertise
    Fifth Third Bancorp welcomes a new executive to lead it mortgage department. This is the same lender that announced a new zero down payment mortgage program earlier this month. Edward Robinson comes to the position prepared, bringing a solid track record of success in a variety of challenges and roles.
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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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  • Ex-Fifth Third banker starts mortgage-bond hedge fund

    Cincinnati Business Courier takes a look at Mariemont Capital
    Meet Kevin Taylor. In 2013, he left his position running mortgage-backed securities trading desk at Fifth Third Bank to start Mariemont Capital. And according to a report from the Cincinnati Business Courier, Taylor is finding success investing in residential mortgage bonds and delivering big returns for his investors.
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  • Fifth Third posts $340M 3Q net income

    Mortgage banking revenue drops 21% from 2Q
    Fifth Third Bancorp on Thursday reported third quarter 2014 net income of $340 million versus net income of $439 million in the second quarter of 2014 and $421 million in the third quarter of 2013.
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