AAMG Year-to-date Production Totals $29.4 Billion
ANN ARBOR, Mich., July 7 /PRNewswire/ -- ABN AMRO Mortgage Group, Inc.
(AAMG), one of the nation's largest mortgage lenders, today released its total
residential mortgage production for the month ended May 31, 2004, for all of
its production divisions.
AAMG reported May 2004 production* of $5.9 billion, with more than 37,500
loans funded. AAMG's year-to-date production* (January 1 through May 31,
2004) totals $29.4 billion.
"Strategically, AAMG is well-positioned to capitalize on purchase activity
and capture new customers," said Mike Maher, group senior vice president.
"AAMG is expanding its products and services to not only attract new
customers, but to meet the needs of a diverse marketplace and customer base.
The recent re-launch of mortgage.com to include new adjustable- and fixed-
rate products as well as InterFirst's integration of OneFee(SM) with MOAI, for
example, present significant, new opportunities company-wide."
Production derived from each of AAMG's business channels:
Channel May 2004 May 2003 % Change
InterFirst Wholesale Lending $4 billion $8.6 billion -53%
National Lending Center $652 million $944 million -31%
Standard Federal Bank* $1 billion $1.5 billion -33%
& LaSalle Bank Loan
Origination Channels
ABN AMRO Mortgage $150 million $205 million -27%
Financial Institutions $49.8 million N/A N/A
Group
TOTAL $5.9 billion $11.25 billion -48%
Channel 2004 2003
YTD Total YTD Total % change
InterFirst Wholesale Lending $20.6 billion $45.4 billion -55%
National Lending Center $3.2 billion $4.9 billion -35%
Standard Federal Bank* $4.9 billion $8.2 billion -40%
& LaSalle Bank Loan
Origination Channels
ABN AMRO Mortgage $501 million $978 million -49%
Financial Institutions $178.5 million N/A N/A
Group
TOTAL $29.4 billion $59.5 billion -51%
* Includes second mortgage production (both closed-end mortgages and lines
of credit) originated through LaSalle Bank and Standard Federal Bank. These
loans are closed in the name of the individual bank entity.
About ABN AMRO Mortgage Group, Inc.
ABN AMRO Mortgage Group is one of the largest loan originators and loan
servicers 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.
About ABN AMRO
ABN AMRO is a prominent international bank, its origins going back to
1824. ABN AMRO ranks 11th in Europe and 23rd in the world based on tier 1
capital, with over 3,000 branches in more than 60 countries, a staff of over
110,000 full-time equivalents, and total assets of EUR 560.4 billion (as of
December 31, 2003). ABN AMRO is listed on the Euronext, London and New York
stock exchanges.
SOURCE ABN AMRO Mortgage Group, Inc.
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Related links:
http://www.abnamro.com
CONTACT:
Jennifer Cornell of Eiler Communications,
+1-734-761-3399, or Jenn@EilerPR.com , for ABN AMRO Mortgage
Group, Inc.
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