The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

Fifth Third Bank Receives Highest Ranking in Servicing Performance from Fannie Mae

Thursday, August 30, 2012

Fifth Third Bank Receives Highest Ranking in Servicing Performance from Fannie Mae08:15 EDT Thursday, August 30, 2012 CINCINNATI (Business Wire) -- Fifth Third Bank (Nasdaq: FITB) received the highest ranking among its peers in servicing performance in Fannie Mae's 2011 Servicer Total Achievement and RewardsTM (STARTM) Program. Fifth Third received a three star designation and the highest composite score for its foreclosure prevention efforts under the 2011 STAR Program among Fannie Mae-mortgage servicers rated. “Fifth Third is committed to helping our customers stay in their homes by providing helpful advice and resources,” said Steven Alonso, executive vice president and head of Fifth Third's Consumer Bank. “This ranking from Fannie Mae recognizes our continued efforts to guide our customers toward affordable payment and loan options to help them maintain homeownership.” Fannie Mae created the STAR program to establish servicing standards and recognize Fannie Mae servicers for their overall performance, customer service and foreclosure prevention efforts. The program measures servicers across key operational and performance areas and acknowledges their achievements through star designations with five star being the highest level of achievement. Fifth Third continues to maintain its status of rating at or above median levels relative to its peers according to recent data released from the STAR program for the first half of 2012. Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $118 billion in assets and operates 15 affiliates with 1,321 full-service Banking Centers, including 105 Bank Mart® locations open seven days a week inside select grocery stores and 2,405 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 39% interest in Vantiv Holding, LLC, formerly Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2012, had $291 billion in assets under care, of which it managed $25 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at Fifth Third's common stock is traded on the NASDAQ® National Global Select Market under the symbol "FITB." Loans are subject to credit review and approval. Fifth Third Bank. Member FDIC. Equal Housing Lender. Fifth Third BankBarbara Grimsley, 513-534-6791