|ABN AMRO Mortgage Group February Production Totals $7.935 billion
ANN ARBOR, MI (March 20, 2002) -- ABN AMRO Mortgage Group, Inc. (AAMG), a subsidiary of ABN AMRO North America, Inc. and the nation's fifth largest mortgage lender, released production figures for the month ended February 2002 for several of its divisions.
"Although the market is starting to normalize, ABN AMRO Mortgage Group, Inc. continues to gain market share with several of our divisions generating very high levels of production," said William Newman, executive vice president. "Three AAMG divisions were even able to post increases over robust January levels, with InterFirst reporting a $349 million funding increase over January, LaSalle funding $7 million more than last month and ABN AMRO Apartment Lending recording a $1.6 million increase."
ABN AMRO Mortgage Group reported February 2002 production of $7.935 billion, with 49,714 loans funded. This is an increase of 84 percent from February 2001 production of $4.289 billion.
- InterFirst Wholesale Mortgage Lending's February 2002 production totaled $6.797 billion, an increase of 5 percent from January and an increase of 90 percent from February 2001.
- The National Lending Center, AAMG's retention and e-commerce lending operation, funded $412 million, a 393 percent increase over February 2001 production of $84 million.
- LaSalle Home Mortgage and ABN AMRO Mortgage, both consumer-direct mortgage lending operations, reported production totaling $261 million in February 2002. LaSalle's production for February represents a 3 percent increase from January totals and an increase of 97 percent from February 2001.
- Standard Federal Bank Retail Lending, servicing customers in Michigan, Ohio and Indiana, funded $321 million in February 2002. This represents a slight decrease of 13 percent from January and a 20 percent decrease from February 2001.
- ABN AMRO Apartment Lending production totaled $143 million in February 2002, an increase of 1 percent from January and a 43 percent increase over February 2001.
|About ABN AMRO Mortgage Group, Inc.:
ABN AMRO Mortgage Group is the fifth largest loan originator and eighth 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, LaSalle Home Mortgage, ABN AMRO Mortgage, ABN AMRO National Lending Center, ABN AMRO Apartment Lending and ABN AMRO Mortgage Capital Markets. ABN AMRO Mortgage Group has more than 2,600 employees located throughout the United States.
About ABN AMRO:
ABN AMRO Mortgage Group, Inc. is an indirect subsidiary of Netherlands- based ABN AMRO Bank N.V., one of the world's largest banks with total assets of (EUR) 614.6 billion and a presence in more than 3,500 locations in over 70 countries and territories. ABN AMRO is organized into three autonomous strategic business units responsible for managing wholesale clients, consumer and commercial clients, and private clients and asset management.
In North America, ABN AMRO is headquartered in Chicago and has nearly $90 billion in assets. Subsidiaries include LaSalle Bank in Chicago, and Standard Federal Bank in Michigan.
ABN AMRO Mortgage Group, Inc.
Jenn Cornell of Eiler Communications
[email protected] , for ABN AMRO Mortgage Group, Inc.