Production Up 44 Percent from 2002's Record-Breaking Totals
ANN ARBOR, Mich., March 3 /PRNewswire/ -- ABN AMRO Mortgage Group, Inc.
(AAMG), the nation's fifth largest mortgage lender, released production
figures for the month ended January 31, 2003 for several of its divisions.
"2003 has started very well for AAMG," said William A. Newman, executive
vice president and chief administrative officer. "InterFirst continues to
produce record level fundings, with a 43 percent increase from the same period
in 2002. Our bank affiliates, Standard Federal Bank and LaSalle Bank, also
posted strong production figures for the month, with an amazing 170 percent
increase from January 2002."
"AAMG's production continues to create a lending environment where
servicing and customer retention take priority," Newman continued. "To
increase quality in those areas, AAMG is implementing a variety of customer
relationship management initiatives in all of its divisions. These
initiatives range from the expansion of InterFirst's broker survey program to
the implementation of Six Sigma quality procedures company-wide."
ABN AMRO Mortgage Group reported January 2003 production of $11.4 billion,
with 68,363 loans funded. This is an increase of 44 percent from January 2002
production of $7.9 billion.
* InterFirst Wholesale Mortgage Lending's January 2003 production totaled
$9.2 billion, an increase of 43 percent from January 2002.
* The National Lending Center, AAMG's retention and e-commerce lending
operation, funded $855 million, an 18 percent increase over January 2002's
total.
* LaSalle Home Mortgage and ABN AMRO Mortgage, both consumer-direct
mortgage lending operations, reported production totaling $217 million in
January 2003.
* AAMG's Bank Retail Lending affiliates funded $1 billion in January
2003. This production is generated by Standard Federal Bank serving customers
in Michigan, Ohio and Indiana; and LaSalle Bank serving customers throughout
its Illinois bank branches.
* ABN AMRO Apartment Lending production totaled $139 million for January
2003.
About ABN AMRO Mortgage Group, Inc.
ABN AMRO Mortgage Group is the fifth largest loan originator and seventh
largest loan servicer in the United States. ABN AMRO Mortgage Group produces
mortgage loans and provides related services through its various divisions
including InterFirst Wholesale Mortgage Lending, LaSalle Home Mortgage, ABN
AMRO Mortgage, ABN AMRO Mortgage National Lending Center, ABN AMRO Apartment
Lending and ABN AMRO Mortgage Capital Markets. ABN AMRO Mortgage Group has
more than 3000 employees located throughout the United States.
About ABN AMRO
ABN AMRO Mortgage Group, Inc. is an indirect subsidiary of Netherlands-
based ABN AMRO Bank N.V., one of the world's largest banks with total assets
of (EUR) 614.6 billion and a presence in more than 3,500 locations in over 70
countries and territories. ABN AMRO is organized into three autonomous
strategic business units responsible for managing wholesale clients, consumer
and commercial clients, and private clients and asset management.
SOURCE ABN AMRO Mortgage Group, Inc.
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Related links:
http://www.abnamro.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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