CINCINNATI--(BUSINESS WIRE)--Fifth Third Bank, National Association, is proud to launch its Mortgage Warehouse Finance business to meet the needs of independent mortgage bankers. As one of the largest regional banks in the U.S., Fifth Third offers the liquidity, credit and banking solutions independent mortgage bankers require, all in one place.
“At Fifth Third, we look 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 focus on relationships position us to provide solutions to our clients’ most pressing business problems. We can collaborate to deliver value for today’s independent mortgage bankers’ business.”
Warehouse lending is a commercial financing arrangement between banks and non depository mortgage lenders that originate or aggregate residential mortgage loans. The financing arrangement provides interim liquidity until the loan is sold or securitized in the secondary market. Loans are held in “warehouse” from the time they are funded on the facility until they are sold.
Fifth Third’s Mortgage Warehouse Finance business is led by industry veteran Donnie Martin, who brings more than 25 years of mortgage industry experience to the bank. Martin has assembled a team of knowledgeable warehouse lending professionals across the U.S. The team is based in Dallas.
“We offer our clients a full banking relationship, industry expertise and technology to deliver excellence in daily execution and consistency through business cycles,” said Martin, group head of mortgage warehouse finance at Fifth Third. “We’re bringing the resources of Fifth Third’s Commercial Bank to the mortgage industry to help our clients achieve their long-term strategic objectives.”
Fifth Third’s Mortgage Finance Connect technology platform will provide clients efficient, same-day funding that integrates with existing processes. The quick fulfillment, together with a broad product offering, provides the tools necessary for mortgage bankers to succeed in a fast-paced, ever-changing industry.
Mortgage Warehouse Finance joins Fifth Third’s Correspondent Lending Group, Capital Markets Whole Loan Trading Desk and Treasury Management Solutions Team in serving the business needs of independent mortgage bankers across the country. To learn more about Mortgage Warehouse Finance business, visit the team at the Mortgage Bankers Association Conference, Oct. 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 chartered institution. As of June 30, 2022, the Company had $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 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2022, had $512 billion in assets under care, of which it managed $54 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.”
