Press release
Fifth Third Bank Launches Mortgage Warehouse Finance Business
Expansion underscores strength of Commercial Bank, long-term commitment to mortgage industry CINCINNATI--(BUSINESS WIRE)-- Fifth Third Bank, National
About this update from Fifth Third Bancorp
[{"type":"text","content":"\nExpansion underscores strength of Commercial Bank, long-term commitment to mortgage industry\n\n CINCINNATI--(BUSINESS WIRE)--\nFifth 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.\n\n“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.”\n\nWarehouse 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.\n\nFifth 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.\n\n“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.”\n\nFifth 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.\n\nMortgage Warehouse Finance joins Fifth Third’s Correspondent Lending Group, Capital Markets Whole Loan Trading Desk and Treasury Management Solutions Team...