ANN ARBOR, Mich., Oct. 20 /PRNewswire/ -- ABN AMRO Mortgage Group, Inc.
(AAMG), the nation's fifth largest mortgage lender, today released its third
quarter production figures as well as production for the month ended
September 30, 2003, for all of its production divisions.
AAMG reported September 2003 production of $8.3 billion, with more than
48,000 loans funded. AAMG's production for the third quarter (July 1, 2003
through September 30, 2003) totaled $36 billion. Year-to-date (January 1,
2003 through September 30, 2003), AAMG's production totaled $108.2 billion.
"While recent increases in market interest rates have dampened customer
demand, especially in the area of refinances, AAMG's year-to-date production
is still up 38 percent from this same time last year," said Mike Maher, group
senior vice president. "With only a few months remaining in the year, AAMG is
well positioned to exceed 2002's record-breaking production total. To
maintain production levels, AAMG will continue to significantly expand its
community bank initiative, InterFirstlink, as well as its OneFee guaranteed
mortgage package."
Production derived from each of AAMG's five business channels:
MONTH
Channel September 2003 September 2002 % Change
InterFirst Wholesale Lending $6.3 billion $10.7 billion -41%
National Lending Center $883 million $668 million 32%
Standard Federal Bank $626 million $1.1 billion -44%
& LaSalle Bank Loan
Origination Channels
LaSalle Home Mortgage $269 million $190 million 41%
& ABN AMRO Mortgage
ABN AMRO/InterFirst $159 million $96 million 66%
Apartment Lending
Financial Institutions* $59 million N/A N/A
Group
TOTAL $8.3 billion $12.8 billion -37%
QUARTER
Channel Q3 2003 Q3 2002 % Change
InterFirst Wholesale Lending $27.7 billion $27.4 billion 1%
National Lending Center $3.6 billion $1.6 billion 124%
Standard Federal Bank $3.3 billion $2.5 billion 33%
& LaSalle Bank
LaSalle Home Mortgage $890 million $463 million 92%
& ABN AMRO Mortgage
ABN AMRO/InterFirst $455 million $388 million 18%
Apartment Lending
Financial Institutions* $141 million N/A N/A
Group
TOTAL $36.0 billion $32.3 billion 12%
YEAR-TO-DATE
Channel YTD 2003 YTD 2002 % Change
InterFirst Wholesale Lending $84 billion $66 billion 28%
National Lending Center $10 billion $4.6 billion 117%
Standard Federal Bank $10.4 billion $4.8 billion 118%
& LaSalle Bank
LaSalle Home Mortgage $2.1 billion $1.7 billion 26%
& ABN AMRO Mortgage
ABN AMRO/InterFirst $1.4 billion $1.3 billion 3%
Apartment Lending
Financial Institutions* $141 million N/A N/A
Group
TOTAL $108.2 billion $78.5 billion 38%
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 and the 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:
Jennifer Cornell of Eiler Communications,
+1-734-761-3399, or Jenn@EilerPR.com , for ABN AMRO Mortgage
Group, Inc.
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