Another of the country's busiest mortgage lenders reported lighter activity for May.
ABN AMRO Mortgage Group, one of the top U.S. lenders, produced $10.9 billion in loans during May, down from $12.2 billion in April, according to company statements.
The number of total loans funded was also off for the month, with May seeing almost 61,000, compared to 68,302 funded in April, company statements said.
ABN AMRO, which is an indirect subsidiary of a Dutch bank, operates several U.S. mortgage divisions including InterFirst Wholesale Lending, which reported $8.6 billion for production in May, down more than half a billion from April's $9.2 billion.
In its current statement, the company reported year-to-date production of $57.9 billion. This figure represents a 47 percent increase over year-to-date 2002.
In May 2002 to May 2003 comparisons, monthly numbers are up across the board, with InterFirst reporting a 41 percent increase. InterFirst makes up the bulk of ABN AMRO's mortgage lending business.