ANN ARBOR, Mich., Feb. 9 /PRNewswire/ -- ABN AMRO Mortgage Group, Inc.'s
(AAMG) InterFirstlink financial institutions lending channel provides
community banks a nationwide mortgage lending platform. Banks using
InterFirstlink originate and fund mortgages in their name, with technology,
fulfillment and servicing provided by AAMG. InterFirstlink has enabled
Amerimark, a community bank in suburban Chicago, to produce more than $23
million mortgage loans since July 2003.
Background
Amerimark Bank, with three branches in suburban Chicago, Ill., has more
than $150 million in assets. A locally owned community bank, Amerimark has
been serving the Chicago market since 1997. In addition to traditional
banking and financial services, in 1998, Amerimark began offering mortgage
loans and home financing options.
Situation
Although it has been offering home financing options since 1998, Amerimark
was seeking a more cost-effective approach to originating and funding mortgage
loans to consumers. The ideal solution for Amerimark included a balance of
technological and traditional efficiencies. Most importantly, Amerimark
wanted to provide its customers with competitive rates and pricing as well as
fast loan approval.
Solution
ABN AMRO Mortgage Group, Inc.'s (AAMG) InterFirstlink financial
institutions lending channel provides community banks a nationwide mortgage
lending platform. Banks using InterFirstlink originate and fund mortgages in
their name, with technology, fulfillment and servicing provided by AAMG.
Community banks can take advantage of AAMG's vendor management services while
effectively managing variable overhead and secondary market risks.
InterFirstlink also offers community banks access to AAMG's award-winning
Web-based technology, customer service and call center capabilities as well as
its industry-leading OneFee(SM) guaranteed mortgage program. These added
capabilities enable community banks to effectively compete with large lending
institutions in their local market. When compared to mortgage loan products
offered by other local community banks, InterFirstlink users are able to
provide significant cost-savings to consumers.
Tactics
Amerimark engaged InterFirstlink in July 2003. Within 30 days,
Amerimark's loan consultants were using the InterFirstlink system in-house to
originate and fund mortgage loans.
To complement its loan products and delivery, Amerimark utilizes
InterFirstlink's Sales Support Team. InterFirstlink's Sales Support Team, a
group of highly trained mortgage professionals, provides direct assistance to
Amerimark's loan consultants and oversees the mortgage processing for
Amerimark customers.
Results
Amerimark chose InterFirstlink to help meet its mortgage needs because of
the technological efficiencies and point-of-sale approval it offers.
Recognizing that the changing mortgage market requires a proactive and
customer-centric approach to products and services, Amerimark also engaged
InterFirstlink because it provides the ability to offer consumers OneFee.
OneFee enables Amerimark to be first in its local market to offer a consumer-
friendly guaranteed mortgage product.
A true testament to InterFirstlink's ability to facilitate and simplify
the mortgage process: With only 2 employees dedicated to its mortgage
operation, Amerimark has produced more than $23 million mortgage loans since
implementing InterFirstlink.
About the Financial Institutions Group of InterFirst Wholesale Mortgage
Lending
The Financial Institutions Group of InterFirst Wholesale Mortgage Lending
provides mortgage solutions to community banks through its InterFirstlink
program. InterFirstlink is a comprehensive, private label mortgage lending
solution that provides a simple web based loan origination system, processing,
regulatory compliance, and marketing support. The InterFirstlink program
allows financial institutions to reduce overhead for mortgage operations,
while retaining brand identity with customers. For more information on
InterFirstlink call 800.770.1673 or visit http://www.interfirstlink.com .
About ABN AMRO Mortgage Group, Inc.
ABN AMRO Mortgage Group is the sixth largest loan originator and loan
servicer 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
Netherlands-based ABN AMRO is a leading international bank with total
assets of approx. EUR 556 billion. It has over 3,000 branches in 66 countries
and territories, and has a staff of about 105,000 full-time equivalents
worldwide.
SOURCE ABN AMRO Mortgage Group, Inc.
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Related links:
http://www.abnamro.com
http://www.interfirstlink.com
CONTACT:
Jenn Cornell of Eiler Communications,
+1-734-761-3399, or Jenn@EilerPR.com , for ABN AMRO Mortgage
Group, Inc.
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