Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 84

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7A
Chunk 84
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 %Commercial mortgage owner-occupied loans27 — — — 27 0.52 Commercial mortgage nonowner-occupied loans66 — — 2 68 1.12 Commercial construction loans113 — — — 113 2.01 Total commercial portfolio loans$361 31 56 5 453 0.62 %Residential mortgage portfolio segmentThe Bancorp has established residential mortgage loan modification programs which define the type of modifications available as well as the eligibility criteria for borrowers. The designs of the Bancorp’s modification programs for residential mortgage loans are similar to those utilized by the various GSEs. The most common modification program utilized for residential mortgage loans is a term extension for up to 480 months from the modification date, combined with a change in interest rate to a fixed rate (which may be an increase or decrease from the rate in the original loan). As part of these modifications, the Bancorp may capitalize delinquent amounts due at the time of the modification into the principal balance of the loan when determining its modified payment structure. For loans where the modification results in a new monthly payment amount, borrowers may be required to complete a trial period of three to four months before the loan is permanently modified. The Bancorp also offers payment delay modifications to qualified borrowers which allow either the delay of repayment for delinquent amounts due until maturity or capitalization of delinquent amounts due into the principal balance of the loan. The number of monthly payments delayed varies by borrower but is most commonly within a range of six to twelve months.The following table presents the amortized cost basis as of December 31, 2024 and 2023 of the Bancorp’s residential mortgage portfolio loans that were modified for borrowers experiencing financial difficulty, by type of modification, during the years ended:December 31, 2024December 31, 2023($ in millions)Total% of Total ClassTotal% of Total ClassPayment delay$5 0.03 %$18 0.11 %Term extension and payment delay72 0.41 91 0.53 Term extension, interest rate reduction and payment delay12 0.07 4 0.02 Total residential mortgage portfolio loans$89 0.51 %$113 0.66 %The Bancorp had $5 million and $3 million of in-process modifications to residential mortgage loans outstanding as of December 31, 2024 and 2023,