ANN ARBOR, Mich., Oct. 21 /PRNewswire/ -- ABN AMRO Mortgage Group, Inc.
(AAMG), one of the nation's largest mortgage lenders, today released third
quarter (July 1 through September 30, 2005) production figures for all of its
production divisions.
AAMG reported third quarter production totaling $16.6 billion, an increase
of 40 percent from third quarter 2004 totals. InterFirst Wholesale Mortgage
Lending was AAMG's top performing division in the third quarter, with
production totaling $13 billion. Year-to-date, AAMG's production totaled
$42.4 billion, with more than 245,000 loans funded.
"AAMG's production grew during the third quarter, besting its second
quarter production by more than $1 billion and its third quarter 2004
production by $4.7 billion," said Mike Maher, executive vice president. "One
year ago, conforming fixed-rate products accounted for 80 percent of the
number of products offered by AAMG. To meet consumer demand, AAMG has
meaningfully diversified its product line over the past year. AAMG's
proactive product roll-out initiatives, especially the introduction of stated
income, stated asset, adjustable-rate and home equity products, have boosted
the company's market share and production."
Third quarter production derived from each of AAMG's business channels:
Channel Q3 2005 Q3 2004 % Change
InterFirst Wholesale Lending $13 billion $8.5 billion 53%
National Lending Center $762 million $786 million -3%
LaSalle Bank Loan $2.7 billion $2.5 billion 8%
Originations*
Financial Institutions $118 million $88 million 34%
Group
TOTAL $16.6 billion $11.9 billion 40%
Year-to-date production derived from each of AAMG's business channels:
Channel YTD 2005 YTD 2004 % Change
InterFirst Wholesale Lending $32.1 billion $32.3 billion -0.6%
National Lending Center $2.3 billion $4.4 billion -48%
LaSalle Bank Loan $7.7 billion $9 billion -14%
Originations*
Financial Institutions $290 million $329 million -12%
Group
TOTAL $42.4 billion $46 billion -8%
* Includes second mortgage production (both closed-end mortgages and lines
of credit) originated through LaSalle 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 N.V.
Netherlands-based ABN AMRO is a leading international bank with total
assets of EUR 855.7 bln (as of June 30, 2005). It has over 3,000 branches in
more than 60 countries and territories, and has a staff of about 98,000 full-
time equivalents worldwide. ABN AMRO is listed on the Euronext 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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