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$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.

MortgageDaily.com
The group is an indirect subsidiary of Amsterdam-based ABN AMRO Bank N.V.


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