May Production Totals $10.9 billion
ANN ARBOR, Mich., June 16 /PRNewswire/ -- ABN AMRO Mortgage Group, Inc.
(AAMG), the nation's fifth largest mortgage lender, released production
figures for the month ended May 31, 2003 for all of its production divisions.
ABN AMRO Mortgage Group reported May 2003 production of $10.9 billion,
with almost 61,000 loans funded. Year-to-date (January 1, 2003 to May 31,
2003), AAMG's production totals $57.9 billion, an increase of 47 percent from
May 2002's year-to-date total. The production derived from each of AAMG's
five business channels is described below.
2003
Channel May 2003 May 2002 % change YTD Total
InterFirst Wholesale $8.6 billion $6.1 billion 41% $45.4 billion
Lending
National Lending Center $944 million $416 million 127% $4.9 billion
Standard Federal Bank $932 million $385 million 142% $5.7 billion
& LaSalle Bank Retail
Lending
LaSalle Home Mortgage $205 million $143 million 44% $978 million
& ABN AMRO Mortgage
ABN AMRO/InterFirst $167 million $166 million 0.4% $785 million
Apartment Lending
TOTAL $10.9 billion $7.2 billion 51% $57.9 billion
"While each of AAMG's business channels continue to show marked
improvement over prior years' record-setting performance, the company's retail
divisions are producing the most noteworthy levels of growth," said Michael
Maher, group senior vice president. "Increased consumer awareness of the cost
savings and ease of AAMG's OneFee(SM) product continues to differentiate AAMG
from its competitors."
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 556 billion and a presence in more than 3,400 locations in over 60
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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