Commercial loan volume shrunk by nearly half for ABN AMRO Mortgage Group Inc.
The group reported its commercial lending arm, ABN AMRO/InterFirst Apartment Lending, funded $70 million in loans during November, sinking 49% from $136 million the prior month. A year ago, production totaled $123 million.
The Michigan-based lending group said its commercial division's year-to-date loan volume of $1.6 billion was unchanged from the same period last year.
ABN AMRO's overall loan volume also took a downturn, decreasing 25% from October to $5.1 billion.