ANN ARBOR, Mich., Feb. 9 /PRNewswire/ -- ABN AMRO Mortgage Group, Inc.
(AAMG), one of the nation's largest mortgage lenders, reports its 2004
production totaled $56.5 billion, with more than 370,000 loans funded. AAMG's
December 2004 production totaled $3.7 billion.
"AAMG's customer-centric approach throughout its multiple business units
supported its mortgage production in 2004," said Mike Maher, group senior vice
president. "The introduction of consumer-friendly products through AAMG's
retail and wholesale lending channels, especially adjustable rate and
interest-only mortgage loans, enabled AAMG to meet the needs of a wide range
of consumers. Combined with OneFee(SM), AAMG is not only able to make home
ownership a reality for its customers, but provide them with a simpler,
guaranteed mortgage process as well."
"AAMG's SatisfactionFirst initiative for its InterFirst and Financial
Institutions Group business channels, as well as its mortgage.com customer
experience surveys, are examples of a company-wide commitment to customer
relationship management," Maher continued. "AAMG is delivering on customer
expectations through enhanced product and service offerings."
"In 2005, AAMG will continue to put clients first by focusing on meeting
the needs of emerging customer segments as well as by enhancing and improving
the mortgage loan process from application throughout the life of the loan,"
Maher added. "Mortgage servicing, especially loss mitigation and helping
customers avoid foreclosure, will also be a company-wide focus in the coming
year."
Production derived from each of AAMG's business channels:
MONTH
Channel December 2004 December 2003 % Change
InterFirst Wholesale Lending $2.6 billion $4.4 billion -41%
National Lending Center $350 million $643 million -46%
Standard Federal Bank* $719 million $739 million -3%
& LaSalle Bank Loan
Origination Channels
Financial Institutions Group $34 million $23 million 48%
TOTAL $3.7 billion $5.8 billion -36%
2004 YEAR-END
Channel 2004 2003 % Change
InterFirst Wholesale Lending $39.6 billion $98.4 billion -60%
National Lending Center $5.4 billion $11.7 billion -54%
Standard Federal Bank* $11.1 billion $20.7 billion -46%
& LaSalle Bank Loan
Origination Channels
Financial Institutions Group $427 million $210 million 103%
TOTAL $56.5 billion $131 billion -57%
*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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