August Production Totals $12.3 Billion
ANN ARBOR, Mich., Sept. 15 /PRNewswire/ -- ABN AMRO Mortgage Group, Inc.
(AAMG), the nation's fifth largest mortgage lender, released production
figures for the month ended August 31, 2003 for all of its production
divisions.
ABN AMRO Mortgage Group reported August 2003 production of $12.3 billion,
with nearly 70,000 loans funded. Year-to-date (January 1, 2003 to August 31,
2003), AAMG's production totals $100.1 billion, an increase of 52 percent from
August 2002's year-to-date total. The production derived from each of AAMG's
business channels is described below.
Channel August 2003 August 2002 % change
InterFirst Wholesale $9.4 billion $9.1 billion 4%
Lending
National Lending Center $1.3 billion $564 million 124%
Standard Federal Bank $1.1 billion $829 million 34%
& LaSalle Bank Loan
Origination Channels
LaSalle Home Mortgage $319 million $151 million 111%
& ABN AMRO Mortgage
ABN AMRO/InterFirst $166 million $145 million 15%
Apartment Lending
Financial Institutions* $51 million N/A N/A
Group
TOTAL $12.3 billion $10.7 billion 14.8%
Channel 2003 2002
YTD Total YTD Total % change
InterFirst Wholesale $78.1 billion $55.4 billion 41%
Lending
National Lending Center $9.1 billion $3.9 billion 131%
Standard Federal Bank $9.8 billion $3.6 billion 168%
& LaSalle Bank Loan
Origination Channels
LaSalle Home Mortgage $1.8 billion $1.5 billion 24%
& ABN AMRO Mortgage
ABN AMRO/InterFirst $1.2 billion $1.2 billion 0%
Apartment Lending
Financial Institutions $83 million N/A N/A
Group
TOTAL $100.1 billion $65.7 billion 52%
"The very successful start of AAMG's InterFirst Financial Institutions
Group confirms the continuing market demand for more creative, comprehensive
and cost effective methods of mortgage lending," said Mike Maher, group senior
vice president. "Developing new channels of business exhibits the continued
commitment to clients while contributing to AAMG's growth throughout its
divisions in the first eight months of 2003."
"In addition, in August, AAMG crossed the $200 billion mark in loans it is
servicing," Maher added. "To top $100 billion in year-to-date originations in
the same month is certainly a noteworthy accomplishment."
* AAMG's InterFirst Financial Institutions Group provides mortgage
origination, fulfillment and servicing to independent community banks and
financial institutions through its InterFirstlink program.
About ABN AMRO Mortgage Group, Inc.
ABN AMRO Mortgage Group is the fifth largest loan originator and sixth
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, InterFirst Financial
Institutions Group, LaSalle Home Mortgage, ABN AMRO Mortgage, ABN AMRO
Mortgage National Lending Center, ABN AMRO Mortgage 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 billion. 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, or Jenn@EilerPR.com , for ABN AMRO Mortgage
Group, Inc.
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