Fifth Third Bancorp (FITB) announced that it has entered into a definitive agreement to acquire Mechanics Bank's Delegated Underwriting and Servicing (DUS) business line, which includes its experienced team and a servicing portfolio with an unpaid principal balance of $1.8 billion.
The DUS program is designed to provide liquidity and stability to the housing market. By acquiring this license, Fifth Third gains direct access to Fannie Mae products and a proven servicing model, reinforcing its commitment to delivering innovative solutions for clients and advancing housing affordability.
The acquisition remains subject to customary closing conditions and certain third-party approvals, including approval by Fannie Mae.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.