Loan fundings continued to decrease in October for a Dutch-banking subsidiary.
ABN AMRO Mortgage Group Inc. announced it funded more than 40,000 loans totaling $6.8 billion in October, which represents a decrease from September's production of $8.3 billion. Volume is down 56% from a year ago when it totaled $15.6 billion.
For the moment, volume decreased for all of its originating channels, compared to September and last October.
ABN AMRO, which is an indirect subsidiary of Netherlands-based bank, said loan production at its top originating channel, InterFirst Wholesale Lending, totaled $5.6 billion, plunging 11% from the prior month and 57% from loan fundings in October 2002.