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Fifth Third Sees Higher MSR Value.

Mortgage Servicing News

| June 01, 2007 | COPYRIGHT 2007 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

CINCINNATI -- Fifth Third Bancorp earned $40 million in revenue from mortgage banking in the first quarter, down from $47 million in the first quarter of last year.

Fifth Third said that origination fees and gains on the sale of loans totaled $26 million in the first quarter of this year, compared with $21 million in the first quarter of last year.

Net mortgage servicing revenue, before adjustments to the value of the mortgage servicing rights, totaled $13 million in the first quarter of 2007, down slightly from $14 million a year earlier.

The company reported a "modest positive ...

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Source: HighBeam Research, Fifth Third Sees Higher MSR Value.

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