|$8.81 Billion July Production At ABN AMRO
InterFirst unit continues to drive production
August 22, 2002
By MortgageDaily.com staff
ABN AMRO reported record gains in its U.S. mortgage operations. Production continues to be driven by the wholesale lending unit.
According to an announcement today, ABN AMRO Mortgage Group reported July production of 55,266 loans funded for $8.81 billion, a 27% increase from June. The company says year-to-date production of $54.99 billion is up 34% from last year.
Activity continues to be primarily driven by the InterFirst Wholesale Mortgage Lending unit, with July production of $7.62 billion -- or 86% of ABN AMRO's total U.S. production.
William A. Newman, executive vice president of the group, attributed the growth to "strategic initiatives" and "5 Visionary Solutions," but made no mention of record low interest rates in the announcement.