Fifth Third Bancorp has agreed to acquire Mechanics Bank’s Delegated Underwriting and Servicing business, which includes a servicing portfolio of $1.8 billion. This move gives Fifth Third direct access to Fannie Mae products and strengthens its commitment to providing innovative solutions for clients. The acquisition is pending approval from Fannie Mae and other customary closing conditions.

Read more at Nasdaq: Fifth Third Bancorp To Acquire Mechanics Bank’s DUS Business Line