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Fifth Third says goodbye to wholesale lending business
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Industry News
Monday, March 17, 2014
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Fifth Third announced it is exiting the wholesale lending business effective at the end of the year. Spokesperson Sean Parker told The Title Report the lender will still offer traditional mortgages and the company will focus more of its attention on the correspondent lending division.
The lender is not the first to take this strategic approach based on changes in the mortgage industry over the past several years. Parker said Wells Fargo, Liberty Mortgage Corp and AMTrust Bank have also exited this market.
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