"Under Jay Plum, who became head of consumer lending in 2023, Fifth Third has expanded its leadership team and launched programs aimed at first-time homebuyers and affordable lending. The bank reported a 16% increase in mortgage volume from 2023 to 2024, along with a 39% rise in retail and direct lending. Fifth Third also said home equity lending volume rose 60% year over year in 2025."
"Speaking at HousingWire's Mortgage Banking Summit on Tuesday, Sias said mortgages remain central to the bank's strategy. Mortgage isn't just a product; it's the ultimate relationship builder, he said. According to the bank, households with mortgages are significantly more likely to remain long-term customers than those that only have checking accounts, with retention rates improving in recent years. Fifth Third said mortgages have also helped drive new deposits through its relationship pricing program and expansion in Southern markets."
Fifth Third is expanding in the Southeast and will operate in 17 of the top 20 fastest-growing large metros, targeting Texas and California. The bank plans to grow Texas branches from about 101 to roughly 250 by 2030 through 150 new de novos. Mortgages are central and act as relationship builders, increasing long-term retention and driving deposits via relationship pricing and Southern expansion. Consumer lending leadership expanded with programs for first-time and affordable homebuyers. Mortgage volume rose 16% from 2023 to 2024; retail and direct lending increased 39%; home equity lending rose 60% in 2025. The Neighborhood Program invested $255 million across 10 neighborhoods to support housing and economic development.
Read at www.housingwire.com
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