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