Year-to-date Fundings Exceed $72 billion
ANN ARBOR, Mich., July 21 /PRNewswire/ -- ABN AMRO Mortgage Group, Inc.
(AAMG), the nation's fifth largest mortgage lender, released production
figures for the first half of 2003, the second quarter, and the month ended
June 30, 2003, for all of its divisions.
AAMG reported June 2003 production of $14.4 billion, with more than 79,000
loans funded. The production derived from each of AAMG's five business
channels is described below.
MONTH
Channel June 2003 June 2002 % Change
InterFirst Wholesale Lending $11.3 billion $5.9 billion 93%
National Lending Center $1.4 billion $380 million 276%
Standard Federal Bank $1.3 billion $419 million 212%
& LaSalle Bank Loan
Origination Channels
LaSalle Home Mortgage $210 million $119 million 76%
& ABN AMRO Mortgage
ABN AMRO/InterFirst $149 million $146 million 2%
Apartment Lending
TOTAL $14.4 billion $6.9 billion 108%
QUARTER
Channel 2 Q 2003 Q2 2002 % Change
InterFirst Wholesale Lending $29.1 billion $18.2 billion 60%
National Lending Center $3.6 billion $1.3 billion 173%
Standard Federal Bank $3.7 billion $1.1 billion 223%
& LaSalle Bank Loan
Origination Channels
LaSalle Home Mortgage $626 million $434 million 44%
& ABN AMRO Mortgage
ABN AMRO/InterFirst $491 million $484 million 1%
Apartment Lending
TOTAL $37.5 billion $21.6 billion 74%
YEAR TO DATE
Channel YTD 2003 YTD 2002 % Change
InterFirst Wholesale Lending $56.7 billion $38.8 billion 46%
National Lending Center $6.4 billion $3.0 billion 113%
Standard Federal Bank $7.1 billion $2.3 billion 209%
& LaSalle Bank Loan
Origination Channels
LaSalle Home Mortgage $1.2 billion $1.2 billion n/a
& ABN AMRO Mortgage
ABN AMRO/InterFirst $934 million $956 million (2%)
Apartment Lending
TOTAL $72.3 billion $46.2 billion 56%
"AAMG continued to post strong performance records throughout its various
lending channels for the first half of 2003," said Mike Maher, group senior
vice president. "AAMG's consumer direct retail lending channels, Standard
Federal Bank and LaSalle Bank, along with its National Lending Center's Web
site, mortgage.com , have principally contributed to the overall unprecedented
growth with a combined production increase of 154 percent for the six months
ended June 30, 2003 over the same time period in 2002."
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 and LaSalle
Bank Loan Origination Channels. ABN AMRO Mortgage Group has more than 3,000
employees located throughout the United States.
About ABN AMRO
Netherlands-based ABN AMRO is a leading international bank with total
assets of approx. EUR 556 bn. It has over 3,000 branches in 66 countries and
territories, and has a staff of about 105,000 full time equivalents worldwide
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, Jenn@EilerPR.com , for ABN AMRO Mortgage Group,
Inc.
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