AMCAP Recently Added to S&P Select Servicer List
BOCA RATON, Fla., March 10 /PRNewswire/ -- ABN AMRO Capital
Markets Group (AMCAP), a division of ABN AMRO Mortgage Group, Inc. (AAMG),
recently began offering Master Servicing services and was added to Standard &
Poor's (S&P) Select Servicer List.
As a Master Servicer, AMCAP monitors the sellers of mortgage loans who
retain the related servicing rights and obligations. AMCAP supports a loan
package securitization by collecting payments from one or more of its
underlying servicers, and remitting that payment to a trustee for distribution
to bondholders.
"Master Servicing allows AMCAP to diversify AAMG's origination sources
beyond its traditional wholesale channel," said Maria Fregosi, AAMG group
senior vice president and capital markets manager. "Additionally, when
production decreases, AMCAP becomes an increasingly important business channel
for AAMG. Bulk acquisitions give AAMG additional economies of scale to sell
and securitize non-conforming mortgage products."
Inclusion on S&P's Select Servicer List indicates that AMCAP performs its
Master Servicing duties in an effective and controlled manner, and is in
general compliance with investor, regulatory, and agency requirements.
Additionally, designation as a S&P Select Servicer indicates that AMCAP meets
the criteria for attaining at least an "average" S&P ranking with an outlook
of "stable."
S&P admitted AMCAP to its Select Servicer List based on a comprehensive
assessment of AMCAP's operational capabilities for servicing residential
mortgages and asset-backed portfolios. S&P's analysis included the
performance of AMCAP's management and organization, servicing administration,
and financial position.
About ABN AMRO Mortgage Capital Markets Group
ABN AMRO Mortgage Capital Markets Group (AMCAP) is a division of the
nation's sixth largest mortgage lender, ABN AMRO Mortgage Group, Inc. The
backing and resources of ABN AMRO Mortgage Group, Inc. assures AMCAP investors
of its commitment to assembling an experienced team of mortgage professionals
dedicated to building and nurturing long-term, full service business
relationships. Whole loans are offered through ABN AMRO Mortgage Capital
Markets Group. Asset Backed Securities and other security products are
offered through ABN AMRO Financial Services, Inc. (AAFS). Representatives of
AMCAP may also be representatives of AAFS. AAFS is a registered broker and
dealer and member of NASD and SIPC. Products offered or sold through AAFS are
not insured by the FDIC or any government agency, are not deposits,
obligations, or guaranteed by any bank, and involve risks, including the
possible loss of the principle amount invested. For more information, please
call 800-661-0823.
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.
ABN AMRO
Netherlands-based ABN AMRO is a leading international bank with total
assets of EUR 601 bn (as of September 30, 2003). It has over 3,000 branches
in more than 60 countries and territories, and has a staff of over 100,000
full-time equivalents worldwide.
SOURCE ABN AMRO Capital Markets Group
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CONTACT: Jenn Cornell of Eiler Communications, +1-734-761-3399, or Jenn@EilerPR.com , for ABN AMRO Capital Markets Group
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