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ABN AMRO Production Off Slightly

Mortgage News

Loan originations at the country’s fifth largest lender edged down in March.

ABN AMRO Mortgage Group, Inc. reported $11.6 billion in production for March, down $0.1 billion from February. Activity was up a third from a year earlier.

“ABN AMRO Mortgage Group’s first quarter production is up 41 percent, or $10 billion, from first quarter 2002 totals,” said William A. Newman, executive vice president. “Based on the momentum of first quarter production, ABN AMRO Mortgage Group is in a strong position to gain market share.”

ABN AMRO says it is the fifth largest originator and seventh largest servicer in the U.S.

The company, which is an indirect subsidiary of a Dutch bank, reported production of $9 billion at its InterFirst Wholesale Mortgage Lending unit, down $0.4 billion from February.

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