Mechanics Bank Agrees to Sell Fannie Mae Delegated Underwriting and Servicing Business Line to Fifth Third
Mechanics Bancorp - Class A (MCHB)
NASDAQ:AMEX Investor Relations:
mechanicsbank.com/about-us/investor-relations
Company Research
Source: Business Wire
WALNUT CREEK, Calif.--(BUSINESS WIRE)--Mechanics Bancorp (“Mechanics”) (NASDAQ: MCHB) announced today that its subsidiary Mechanics Bank has entered into a definitive agreement to sell its Fannie Mae Delegated Underwriting and Servicing (“DUS”) business line (“DUS Business”) to Fifth Third Bancorp (“Fifth Third”) (NASDAQ: FITB) in an all-cash transaction. Completion of the transaction is subject to Fannie Mae’s approval of Fifth Third as an authorized DUS lender.The DUS Business comprises a specialized division within Mechanics Bank focused on multifamily lending and servicing under the Fannie Mae DUS program, which allows approved lenders to independently underwrite, close, and service multifamily loans on behalf of Fannie Mae. This streamlines the lending process and provides direct access to an extensive set of Fannie Mae-backed loan products.Pursuant to the definitive agreement, Fifth Third will acquire Mechanics Bank’s approximately $1.8 billion DUS servicing portfolio, inclu
Show less
Read more
Impact Snapshot
Event Time:
MCHB
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
MCHB alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
MCHB alerts
High impacting Mechanics Bancorp - Class A news events
Weekly update
A roundup of the hottest topics
MCHB
News
- KBRA Assigns Ratings to Mechanics Bancorp; Upgrades and Subsequently Withdraws Ratings for HomeStreet, Inc.Business Wire
- Mechanics Bancorp (NASDAQ:MCHB) was downgraded by analysts at <a style="font-weight:bold" href="https://www.wallstreetzen.com/newsletters/zen-ratings?ticker=MCHB&utm_campaign=getratings&utm_medium=online&utm_source=MarketBeat">Wall StreeMarketBeat
- Mechanics Bancorp Declares Cash DividendBusiness Wire
- Mechanics Bancorp (NASDAQ:MCHB) had its "hold (c+)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Mechanics Bancorp Reports Third Quarter 2025 Results Following Completion of Merger with HomeStreet BankBusiness Wire