ABN AMRO Announces Abundant AccoladesMortgagePress.comABN AMRO, Production,
ABN AMRO Mortgage Group Inc.
(AAMG) reported total third quarter production of $32.31
billion, with 202,098 units funded, reflecting an increase of
$12.22 billion from the company's third quarter 2001 totals. AAMG's
2002 year-to-date fundings total $78.49 billion, an increase of 45
percent from the same period in 2001.
September was a record-breaking month for AAMG's subsidiary InterFirst Wholesale Mortgage
Lending, which reported production of $10.69 billion, with
66,361 loans funded. InterFirst's year-to-date production totals
$66.14 billion, with 419,382 loans funded.
AAMG also announced that it will employ a new
appraisal-alternative product developed by Fidelity National Information Solutions
(FNIS), to replace traditional full appraisals for many of the
company's first mortgage loan originations. AAMG will use FNIS'
Collateral Valuation Insurance (CVI) to streamline the collateral
evaluation process in its first mortgage operations. In addition to
its locally-implemented automated ordering and receipt, AAMG is
seeing improvements in turnaround time and the quality of CVI's
collateral evaluations. AAMG's adoption of CVI supports the
company's OneFee settlement approach and company-wide initiative to
streamline the mortgage origination process.
ABN AMRO Mortgage Group Inc., headquartered in Ann Arbor, Mich.,
is a subsidiary of ABN AMRO North America Inc., which provides
mortgage loans and related services through its divisions. For more
information, visit www.abnamro.com or call (313)
665-3700.
Fidelity National Information Solutions, headquartered in Santa
Barbara, Calif., delivers business intelligence and technology to
lenders and real estate professionals. For more information, visit
www.fnis.com or call (888)
934-3354.
