home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.



ABN AMRO Mortgage Group Reports: Production in November Exceeds $10 billion

Consumer Refinancing Booms, InterFirst Monthly Increase Near $1 billion

FOR IMMEDIATE RELEASE -- Ann Arbor, Mich. - December 18, 2001 -- ABN AMRO Mortgage Group, Inc. (AAMG), a subsidiary of ABN AMRO North
America, Inc. and the nation's fifth largest mortgage lender, released production figures for the month ended November 30, 2001 for several of its divisions.

"AAMG's consumer-direct lending divisions experienced the biggest production increases from October to November, affirming that the refinancing trend is still booming as consumers take advantage of historically low interest rates," said William A. Newman, executive vice president. "At Standard Federal Bank we blew away all previous funding records in November. Our AAMG National Lending Center and LaSalle Home Mortgage units also saw tremendous month over month increases. This trend should continue into early 2002. In our wholesale business, our InterFirst Wholesale Mortgage Lending division also achieved record monthly production volume in November, making it the ninth month this year of record activity in this
production segment.

"While this will be a record year for the entire mortgage lending industry, AAMG's production numbers not only reflect the environment but also substantial market share gains in all of our business units," Newman continued. "We anticipate that our final 2001 production will exceed $80 billion as compared to a previous high of $30 billion in 1999."

ABN AMRO Mortgage Group reported November 2001 production of $10.188 billion, with 64,561 loans funded. This is an increase of 14 percent from the previous month and a 297 percent increase from November 2000. This is the first month ever that AAMG's production has exceeded $10 billion. To date, ABN AMRO Mortgage Group's combined production totals $73.318 billion with 479,186 loans funded, an increase of 235 percent from November 2000 year-to-date totals.

  • InterFirst Wholesale Mortgage Lending's November 2001 production totaled a record $8.442 billion, an increase of over 12 percent from the previous month and 296 percent more than November 2000 totals. To date, InterFirst's production for 2001 totals a record-breaking $61.066 billion, which represents an increase of 242 percent from its November 2000 year-to-date total.
  • AAMG National Lending Center, a retention and e-commerce lending operation, funded $489 million, an increase of 933 percent from November 2000. AAMG National Lending Center's year-to-date production is also a record at $3.202 billion.
  • LaSalle Home Mortgage and its Minnesota based operation, ABN AMRO Mortgage, both consumer-direct mortgage lending operations, reported production totaling $232 million in November 2001. LaSalle's production for November represents a 30 percent increase from the previous month's totals and an increase of 149 percent from November 2000. LaSalle's year-to-date production is $2.163 billion.
  • Standard Federal Bank Retail Lending, servicing customers in Michigan, Ohio and Indiana, funded $897 million in November 2001. This represents an increase of 58 percent from October 2001, and a 296 percent increase above November 2000 totals, with 2001's year-to-date total in excess of $5.63 billion.
  • ABN AMRO Apartment Lending production totaled $126 million for November 2001, an increase of 86 percent from production totals for the same period last year. Year-to-date, ABN AMRO Apartment Lending production totals a record $1.256 billion.

MortgageDaily.com
About ABN AMRO Mortgage Group, Inc.
ABN AMRO Mortgage Group is the fifth largest loan originator and eighth largest loan servicer in the United States. ABN AMRO Mortgage Group produces mortgage loans and provides related services through its various divisions including InterFirst Wholesale Mortgage Lending, LaSalle Home Mortgage, ABN AMRO Mortgage, ABN AMRO National Lending Center, ABN AMRO Apartment Lending and ABN AMRO Mortgage Capital Markets. ABN AMRO Mortgage Group has more than 2,600 employees located throughout the United States.

About ABN AMRO
ABN AMRO Mortgage Group, Inc. is an indirect subsidiary of Netherlands-based ABN AMRO Bank N.V., one of the world's largest banks with total assets of (EUR) 614.6 billion and a presence in more than 3,500 locations in over 70 countries and territories. ABN AMRO is organized into three autonomous strategic business units responsible for managing wholesale clients, consumer and commercial clients, and private clients and asset management.

In North America, ABN AMRO is headquartered in Chicago and has nearly $90 billion in assets. Subsidiaries include LaSalle Bank in Chicago, and Standard Federal Bank in Michigan.

CONTACT:
Jenn Cornell, Eiler Communications
734.761.3399
[email protected]

hosted by USANow.net

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders