Mechanics Bancorp sells Fannie Mae DUS servicing portfolio to Fifth Third Bancorp; Wachtell Lipton advises Mechanics Bancorp

"On December 9, 2025, Mechanics Bancorp announced that its subsidiary Mechanics Bank agreed to sell its Fannie Mae Delegated Underwriting and Servicing (DUS) business, including an approximately $1.8 billion servicing portfolio, to Fifth Third Bancorp in an all-cash transaction. Wachtell, Lipton, Rosen & Katz served as legal advisor to Mechanics Bancorp."

Wachtell, Lipton, Rosen & Katz represented Mechanics Bancorp in connection with the sale of its Fannie Mae Delegated Underwriting and Servicing (DUS) business to Fifth Third Bancorp. On December 9, 2025, Mechanics Bancorp (NASDAQ: MCHB) announced that its subsidiary, Mechanics Bank, entered into a definitive agreement to sell its Fannie Mae Delegated Underwriting and Servicing (DUS) business line to Fifth Third Bancorp (NASDAQ: FITB). The transaction is structured as an all-cash sale and includes an approximately $1.8 billion DUS servicing portfolio. Wachtell, Lipton, Rosen & Katz represented Mechanics Bancorp with a team composed by: Jacob A. Kling, Partner (Corporate); Eric M. Feinstein, Partner (Corporate); Audrey Y. Cho, Associate (Corporate); Savely S. Zakharenko, Associate (Corporate); Richard K. Kim, Partner (Bank Regulatory); Michael J. Schobel, Partner (Executive Compensation and Benefits); Savannah R. Lambert, Associate (Executive Compensation and Benefits); Joshua M. Holmes, Partner (Tax); Zachary B. Becker, Associate (Tax); Emily E. Samra, Associate (Antitrust).

Mechanics Bancorp sells Fannie Mae DUS servicing portfolio to Fifth Third Bancorp; Wachtell Lipton advises Mechanics Bancorp

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