Commercial production rose during August for one of the nation's apartment lenders.
ABN AMRO/InterFirst Apartment Lending, a division of ABN AMRO Mortgage Group, Inc., reported a 28% increase in volume from July, which totaled $166 million for the month of August. This also tops the total of $145 million reported for August of last year.
No changes occurred in the company's year-to-date commercial fundings, which stayed level with last year at $1.2 billion.
Although commercial funding increased for the month, ABN AMRO's overall production decreased to $12.3 billion from $15.5 billion in July.