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.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.