Another major mortgage lender saw its fundings fall.
ABN AMRO Mortgage Group reported $12.3 billion in production for the month of August, a decrease from $15.5 billion in July. The totals surpassed the $10.7 billion in August 2002. The year-to-date volume of $100.1 billion increased 52% from the previous year.
InterFirst Wholesale Lending accounted for $9.4 billion of the mortgage production for the Dutch-banking subsidiary.
In the announcement, an ABN AMRO executive said the company crossed the $200 billion mark in loans it is servicing.
The company acquired $1.3 billion through the National Lending Center. Loans closed increased 124% from last August's $564 million.