As quarterly home-lending volume declined at Fifth Third Bancorp, so did mortgage revenues and company-wide headcount. However, residential servicing and commercial real estate assets grew.
Cincinnati-based Fifth Third disclosed in its third-quarter earnings report that it generated income before income taxes totaling $0.512 billion during the period.
Earnings at the bank-holding company plummeted from $1.489 billion during the same three months last year. Income also receded from the preceding three-month period, when it was $0.693 billion.
Source: Mortgage Daily