The U.S. mortgage operations of a Dutch bank reported a jump in loan fundings.
In an announcement released today, ABN AMRO Mortgage Group, Inc. reported total June production of $14.4 billion, up from $10.9 billion in May.
Production at the company has been inconsistent from month to month; while June was up more than 30% from May, the company previously reported that May was down about 10% from April, which was up from March.
A year ago the company, which is an indirect subsidiary of an Amsterdam bank, reported production of $6.9 billion.
Nearly 80%, or $11.3 billion of ABN AMRO's production, was funded through its InterFirst Wholesale Lending unit.
For the second quarter, the ABN AMRO said fundings were $37.5 billion.