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 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.