Fifth Third Bank Launches Mortgage Warehouse Finance Business and More News

Published by
Peter Kavinsky

CINCINNATI–(BUSINESS WIRE)–Fifth Third Bank, a National Association, is proud to launch its Mortgage Warehouse Finance business to serve the needs of independent mortgage bankers. As one of the largest regional banks in the US, Fifth Third offers the liquidity, lending and banking solutions that independent mortgage bankers require, all in one place.

“At Fifth Third, we aim to be the banking partner of choice for independent mortgage bankers,” said Kevin Lavender, head of commercial banking at Fifth Third Bank. “Our resources and relationship focus enable us to offer solutions to our clients’ most pressing business problems. We can work together to bring value to today’s independent mortgage banker business.”

Warehouse lending is a commercial financing agreement between banks and non-deposit mortgage lenders that originate or pool residential mortgages. The financing agreement provides interim liquidity until the loan is sold or securitized in the secondary market. Loans are held in a “warehouse” from the time they are funded at the facility until they are sold.

Fifth Third’s Mortgage Warehouse Finance division is led by industry veteran Donnie Martin, who has over 25 years of experience in the mortgage industry. Martin has assembled a team of knowledgeable warehouse finance professionals in the US. The team is based in Dallas.

“We offer our clients comprehensive banking relationships, industry expertise and technology to deliver excellence in day-to-day execution and consistency throughout business cycles,” said Martin, Head of Mortgage Warehouse Finance at Fifth Third. “We are bringing Fifth Third commercial bank resources into the mortgage industry to help our clients achieve their long-term strategic goals.”

Fifth Third’s Mortgage Finance Connect technology platform will provide clients with efficient same-day financing that integrates with existing processes. Fast execution, along with a broad product offering, provides the tools mortgage bankers need to succeed in a fast-paced, ever-changing industry.

Mortgage Warehouse Finance joins Fifth Third’s Correspondent Lending Group, Capital Markets Credit Trading Division and Treasury Management Solutions Team in serving the business needs of independent mortgage bankers nationwide. To learn more about the Mortgage Warehouse Finance business, attend the panel at the Mortgage Bankers Association Conference October 23-26 in Nashville, Tennessee, or visit www.53.com.

About Fifth Third

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, National Association, a federally registered institution. As of June 30, 2022, the company has $207 billion in assets and operates 1,080 full-service banking centers and 2,153 Fifth Third-branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 56,000 free ATMs throughout the United States. Fifth Third operates four core businesses: commercial banking, bank branches, consumer finance, and wealth and asset management. Fifth Third is among the largest money managers in the Midwest and as of June 30, 2022 had $512 billion in assets, of which it managed $54 billion for individuals, corporations, and nonprofits through its trusts and registered Investment advisory business. Investor information and press releases can be found at www.53.com. Fifth Third common stock trades on the NASDAQ.® Global Select Market under the symbol “FITB”.

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Peter Kavinsky

Peter Kavinsky is the Executive Editor at cablefreetv.org

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