Fundings tumbled at ABN AMRO Mortgage Group Inc.
Volume of $10.9 billion in the last quarter of 2005 fell from the third quarter's $16.6 billion, the Ann Arbor, Mich.-based lender announced today. The fundings are a smidgen better than $10.6 billion in the fourth quarter 2004.
In all of 2005, ABN AMRO funded over 313,000 loans totaling $53.4 billion, $3.1 billion less than the previous year. Despite an annual decline, the company's market share increased, according to the announcement.
InterFirst Wholesale Lending accounted for $40.2 billion of ABN AMRO's yearly fundings and was the only channel that reported an improvement, although very slight, in annual volume.
ABN AMRO noted it ranked highest in borrower satisfaction according to J.D. Power and Associates
Sustainable growth is ABN AMRO's priority this year, Chairman and Chief Executive Thomas M. Goldstein said in the announcement.