Production followed the national declining trend for a company that says it is the fifth largest loan originator in the nation.
ABN AMRO Mortgage Group Inc. reported total volume for September at $8.3 billion, a sharp decrease from the prior month's $12.3 billion. Although production in September of last year was 54% higher at $12.8 billion, a spokesman for the company pointed out in the announcement that year-to-date fundings of $108.2 billion increased 38% from the same time last year.
Of the origination channels, InterFirst Wholesale Lending, accounted for most of the production with $6.3 billion, reported the Dutch-banking subsidiary. In September of 2002, loans closed at this institution totaled $10.7 billion.
Meanwhile, the National Lending Center's volume increased 32% from last year and contributed $883 million of ABN AMRO's total fundings.