First Quarter Production up 41 Percent from 2002
ANN ARBOR, Mich., April 17 /PRNewswire/ -- ABN AMRO Mortgage Group, Inc.
(AAMG), the nation's fifth largest mortgage lender, released production
figures for the month ended March 31, 2003 for several of its divisions.
"AAMG's first quarter production is up 41 percent, or $10 billion, from
first quarter 2002 totals," said William A. Newman, executive vice president.
"The largest year-to-date percentage increase was at AAMG's Bank Retail
Lending affiliate, up 193 percent from this same time in 2002.
"Based on the momentum of first quarter production, AAMG is in a strong
position to gain market share," Newman continued. "Product variety, along
with customer service, has become increasingly more important, giving AAMG an
advantage over its competitors. AAMG's consumer-friendly OneFee(SM) loan,
soon available through all of AAMG's lending channels, will serve to truly
differentiate the company to consumers."
ABN AMRO Mortgage Group reported March 2003 production of $11.57 billion,
with 66,791 loans funded. Year-to-date (January 1, 2003 to March 31, 2003),
AAMG's production totals $34.7 billion, an increase of 41 percent from March
2002's year-to-date total. The production derived from each of AAMG's five
business channels is described below.
... InterFirst Wholesale Mortgage Lending's March 2003 production totaled
$9 billion, a 23 percent increase from March 2002. Year-to-date, InterFirst's
production totals $27.6 billion.
... The National Lending Center, AAMG's retention and e-commerce lending
operation, funded $1.1 billion in March 2003, an increase of 97 percent from
March 2002. The National Lending Center's year-to-date production totals $2.7
billion.
... LaSalle Home Mortgage and ABN AMRO Mortgage, both consumer-direct
mortgage lending operations, reported production totaling $158 million in
March 2002. Year-to-date, production at LaSalle Home Mortgage and ABN AMRO
Mortgage totals $537 million.
... AAMG's Bank Retail Lending affiliates funded $1.2 billion in March
2003, an increase of 153 percent from March 2002. Year-to-date, AAMG's Bank
Retail Lending production totals $3.4 billion. 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's March 2003 production totaled $159
million. Year-to-date, ABN AMRO Apartment Lending's production totals $443
million.
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, ABN AMRO Mortgage Capital Markets, Standard Federal Bank Retail
Lending and LaSalle Bank Retail Lending. 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.
 back to top
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.
|
