AAMG's Year-to-Date Production Up 22 Percent From 2002
ANN ARBOR, Mich., Nov. 24 /PRNewswire/ -- ABN AMRO Mortgage Group, Inc.
(AAMG), the nation's sixth largest mortgage lender, released production
figures for the month ended October 31, 2003, for all of its production
divisions.
ABN AMRO Mortgage Group reported October 2003 production of $6.8 billion,
with more than 40,000 loans funded. Year-to-date (January 1, 2003 to
October 31, 2003), AAMG's production totaled over $115 billion, an increase of
22 percent from October 2002's year-to-date total. The production derived
from each of AAMG's business channels is described below.
"While mortgage activity, industry-wide, continues to decline from record
levels, AAMG's year-to-date production remains strong, even when compared to
2002," said group senior vice president Mike Maher. "The diversification of
AAMG's lending channels, including its Financial Institutions Group and the
recently launched Affinity Programs and Relocation Lending, help maintain not
only production levels, but market leadership as well. Despite the inevitable
interest rate and market fluctuations in the mortgage industry, AAMG remains
strategically well-positioned as we end 2003 and advance into 2004."
Channel October 2003 October 2002 % change
InterFirst Wholesale $5.6 billion $13 billion -57%
Lending
National Lending Center $507 million $907 million -44%
Standard Federal Bank $376 million $1.2 billion -70%
& LaSalle Bank Loan
Origination Channels
ABN AMRO Mortgage $144 million $285 million -50%
ABN AMRO/InterFirst $136 million $119 million 14%
Apartment Lending
Financial Institutions $25 million N/A N/A
Group
TOTAL $6.8 billion $15.6 billion -56%
Channel 2003 2002
YTD Total YTD Total % change
InterFirst Wholesale $90 billion $79 billion 14%
Lending
National Lending Center $10.5 billion $5.5 billion 90%
Standard Federal Bank $10.8 billion $6 billion 80%
& LaSalle Bank Loan
Origination Channels
ABN AMRO Mortgage $2.2 billion $1.9 billion 15%
ABN AMRO/InterFirst $1.5 billion $1.46 billion 4%
Apartment Lending
Financial Institutions $166 million N/A N/A
Group
TOTAL $115.2 billion $94.0 billion 22%
About ABN AMRO Mortgage Group, Inc.
ABN AMRO Mortgage Group is the sixth largest loan originator and loan
servicer in the United States. ABN AMRO Mortgage Group produces mortgage
loans and provides related services through its various divisions. 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.
 back to top
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.
|
