Apartment Lending jumped even as one of the nation’s biggest lenders saw its overall production decline.
Multifamily production at ABN AMRO Apartment Lending was $159 million in March, $14 million better than February. Compared to a year ago, however, multifamily production is down 14%.
Year-to-date production at the multifamily division was $443 million, compared to $471 million during the first quarter of last year.
The unit is part of ABN AMRO Mortgage Group, Inc. — which says it is the nation’s fifth largest U.S. originator — and an indirect subsidiary of an Amsterdam-based bank. U.S. production for the mortgage group was reported at $11.6 billion in March, down slightly from February.
