Although residential production finished the year off brightly for ABN AMRO Mortgage Group Inc., commercial volume did not follow suit.
According to the mortgage group’s press release, its commercial lending arm — ABN AMRO/InterFirst Apartment Lending — originated $51 million in loans during December. The total, which was down from the previous month’s $70 million, continued its descending trail since August and is 68% below the volume in December 2002.
Commercial fundings totaled $1.6 billion for the full year 2003, slightly off the previous year’s total of $1.7 billion, said the Michigan-based lender.
ABN AMRO announced that overall production in December nudged up from the previous month and accounted for $5.5 billion of the record-breaking annual total of $125.4 billion.