Year-to-Date Production Jumps $32 Billion from July 2002 Year-to-Date
ANN ARBOR, Mich., Aug. 18 /PRNewswire/ -- ABN AMRO Mortgage Group, Inc.
(AAMG), the nation's fifth largest mortgage lender, released production
figures for the month ended July 31, 2003 for all of its production divisions.
ABN AMRO Mortgage Group reported July 2003 production of $15.5 billion,
with more than 85,800 loans funded. Year-to-date (January 1, 2003 to July 31,
2003), AAMG's production totals $87.8 billion, an increase of 60 percent from
July 2002's year-to-date total. The production derived from each of AAMG's
five business channels is described below.
Channel July 2003 July 2002 % change
InterFirst Wholesale $12.0 billion $7.6 billion 57%
Lending
National Lending Center $1.5 billion $394 million 278%
Standard Federal Bank $1.5 billion $524 million 195%
& LaSalle Bank Loan
Origination Channels
LaSalle Home Mortgage $303 million $122 million 149%
& ABN AMRO Mortgage
ABN AMRO/InterFirst $130 million $146 million -11%
Apartment Lending
TOTAL $15.5 billion $8.8 billion 76%
Channel 2003 2002
YTD Total YTD Total % change
InterFirst Wholesale $68.7 billion $46.4 billion 48%
Lending
National Lending Center $7.9 billion $3.4 billion 132%
Standard Federal Bank $8.6 billion $2.8 billion 207%
& LaSalle Bank Loan
Origination Channels
LaSalle Home Mortgage $1.5 billion $1.3 billion 14%
& ABN AMRO Mortgage
ABN AMRO/InterFirst $1.1 billion $1.1 billion -4%
TOTAL $87.8 billion $55.0 billion 60%
"Each of AAMG's business channels have performed exceedingly well
throughout the first seven months of 2003," said Mike Maher, group senior vice
president. "Recent rate volatility in the mortgage markets suggests that a
return to a more normal, sustainable industry volume level is at hand. AAMG
remains well-positioned in a normalized environment to serve the marketplace
efficiently and effectively."
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
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