Fifth Third Closes Fannie Mae DUS® Acquisition; Strengthens Multifamily Lending Capabilities

CINCINNATI--(BUSINESS WIRE)--Fifth Third Bancorp (NASDAQ: FITB) announced closing of a transaction to acquire Mechanics Bank's Delegated Underwriting and Servicing (DUS®) business line, including an experienced lending team, and a $1.8 billion unpaid principal balance servicing portfolio. Fifth Third joins a group of just 24 lenders nationwide authorized by Fannie Mae to originate, underwrite, close, and service multifamily loans. Fifth Third is currently the ninth-largest U.S. bank, with appro.