Each AAMG Division Reports Gains
ANN ARBOR, Mich., May 20 /PRNewswire/ -- ABN AMRO Mortgage Group, Inc.
(AAMG), the nation's fifth largest mortgage lender, released production
figures for the month ended April 30, 2003 for all of its production
divisions.
ABN AMRO Mortgage Group reported April 2003 production of $12.2 billion,
with 68,302 loans funded. Year-to-date (January 1, 2003 to April 30, 2003),
AAMG's production totals $46.9 billion, an increase of 46 percent from April
2002's year-to-date total. The production derived from each of AAMG's five
business channels is described below.
2003
Channel April 2003 April 2002 % change YTD Total
InterFirst
Wholesale
Lending $9.2 billion $6.2 billion 48% $36.8 billion
National Lending
Center $1.2 billion $515 million 131% $3.9 billion
Standard Federal
Bank Retail
& LaSalle Bank
Retail Lending $1.4 billion $332 million 333% $4.8 billion
LaSalle Home
Mortgage
& ABN AMRO
Mortgage $198 million $172 million 15% $735 million
ABN AMRO/
InterFirst
Apartment
Lending $176 million $173 million 1% $618 million
TOTAL $12.2 billion $7.4 billion 65% $46.9 billion
"Each of AAMG's five divisions experienced production gains, most notably
AAMG's Standard Federal Bank and LaSalle Bank Retail Lending divisions, along
with the National Lending Center," said Michael Maher, group senior vice
president.
"AAMG's year-to-date production volume is up nearly 50 percent from this
same time last year," Maher continued. "In short, given the continued
favorable interest rate environment that has characterized the current year,
and AAMG's focus on the strategic development and enhancement of each business
channel, production is on target to match or possibly exceed 2002's record-
breaking total."
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 3,600 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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