ABN AMRO releases May production totalsMortgagePress.comAAMG,Residential Mortgage Production
ABN AMRO Mortgage Group Inc. (AAMG) has released its total
residential mortgage production figures for the month ending May 31
for all of its production divisions.
AAMG reported May production* of $5.9 billion, with more than
37,500 loans funded. AAMG's year-to-date production* (Jan.1-May 30)
totals $29.4 billion.
The production figures in May, compared to those from May 2003,
reflect increases for each of AAMG's business channels. InterFirst
Wholesale Lending increased 53 percent from $4 billion to $8.6
billion. National Lending Center improved to $944 million from $652
million, experiencing a 31 percent change. Standard Federal Bank*
and LaSalle Bank loan origination channels grew 33 percent from $1
billion to $1.5 billion. ABN AMRO Mortgage underwent a 27 percent
increase, growing from $150 million to $205 million. And Financial
Institutions Group, whose figures from May 2003 are not applicable,
produced $49.8 million. In total, AAMG's business channels produced
$11.25 billion, a 48 percent increase from May 2003, which produced
$5.9 billion.
AAMG's business channels have experienced equaled growth in
their year-to-date totals, compared to May 2003. InterFirst
Wholesale Lending surged 55 percent, growing from $45.4 billion to
$20.6 billion. National Lending Center produced $4.9 billion,
increasing 35 percent from $3.2 billion. Standard Federal Bank* and
LaSalle Bank loan origination channels grew from $4.9 billion to
$8.2 billion, a 40 percent change. ABN AMRO Mortgage posted a 49
percent change, rising from $501 million to $978 million. And
Financial Institutions Group, whose May 2003 year-to-date figures
are non-applicable, produced $178.5 million. In total, AAMG's
business channels grew 51 percent, producing $59.5 billion from
$29.4 billion.
*Includes second mortgage production (both closed-end
mortgages and lines of credit) originated through LaSalle Bank and
Standard Federal Bank. These loans are closed in the name of the
individual bank entity.
For more information, visit www.abnamro.com.
