ANN ARBOR, Mich., Jan. 12 /PRNewswire/ -- ABN AMRO Mortgage Group, Inc.
(AAMG), one of the nation's largest mortgage lenders, today released its total
residential mortgage production for the month ended November 30, 2004, for all
of its production divisions.
AAMG reported November 2004 production* of $3.6 billion, with more than
23,700 loans funded. AAMG's year-to-date production* (January 1 through
November 30, 2004) totals $52.8 billion.
"AAMG is experiencing increased consumer interest in both interest-only
and amortizing adjustable-rate mortgages, as well as home equity and second
mortgage products," said Mike Maher, senior vice president. "This wide range
of consumer needs supports AAMG's focus on diversifying its customer base,
including those in emerging markets, in 2005.
"In recent months, AAMG significantly improved the variety of products
available through each of its lending channels, including home equity lines of
credit and adjustable-rate products. Given the newly broadened array of
products offered, AAMG is well-positioned for success in the coming year."
Production derived from each of AAMG's business channels:
Channel November 2004 November 2003 % Change
InterFirst Wholesale Lending $2.5 billion $4.1 billion -39%
National Lending Center $298 million $573 million -48%
Standard Federal Bank* $719 million $749 million -4%
& LaSalle Bank Loan
Origination Channels
Financial Institutions Group $36 million $20 million 44%
TOTAL $3.6 billion $5.4 billion -33%
Channel 2004 2003
YTD Total YTD Total % Change
InterFirst Wholesale Lending $37 billion $94 billion -61%
National Lending Center $5 billion $11.1 billion -55%
Standard Federal Bank* $10.4 billion $19.9 billion -48%
& LaSalle Bank Loan
Origination Channels
Financial Institutions Group $392 million $187 million 110%
TOTAL $52.8 billion $125 billion -58%
* Includes second mortgage production (both closed-end mortgages and lines
of credit) originated through LaSalle Bank and Standard Federal Bank. These
loans are closed in the name of the individual bank entity.
About ABN AMRO Mortgage Group, Inc.
ABN AMRO Mortgage Group is one of the largest loan originators and loan
servicers in the United States. ABN AMRO Mortgage Group produces mortgage
loans and provides related services through its various divisions. ABN AMRO
Mortgage Group has approximately 3,000 employees located throughout the United
States.
About ABN AMRO N.V.
Netherlands-based ABN AMRO is a leading international bank with total
assets of EUR 637.5 bln (as of September 30, 2004). It has over 3,000
branches in more than 60 countries and territories, and has a staff of about
104,000 full-time equivalents worldwide. ABN AMRO is listed on the Euronext
and New York stock exchanges.
SOURCE ABN AMRO Mortgage Group, Inc.
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Related links:
http://www.abnamro.com
CONTACT:
Jennifer Cornell of Eiler Communications,
+1-734-761-3399 or Jenn@EilerPR.com , for ABN AMRO Mortgage
Group, Inc.
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