ABN AMRO Mortgage Group 2005 Production Totals $53.4 Billion7 February 2006
ABN AMRO Mortgage Group, Inc. (AAMG), one of the nation's largest mortgage lenders, reports its 2005 production totaled $53.4 billion, with more than 313,000 loans funded. AAMG's fourth quarter 2005 production totaled $10.9 billion.
"Over the course of 2005, the company implemented a focused, strategic approach that has resulted in increased market share as well as improving customer service quality, profitability and compliance," said Thomas M. Goldstein, chairman and chief executive officer. "Throughout the past year, the company implemented corporate initiatives designed to support and encourage best practices and organizational excellence. These efforts resulted in AAMG's recognition as ranking highest in customer sales satisfaction, according to the J.D. Power and Associates 2005 Primary Mortgage Origination Study(SM)."
"In 2006, AAMG will continue to make sustainable growth its priority," Goldstein added. "We believe the right combination of products, services and people provide the catalyst for the company's market leadership."
2005 YEAR-END PRODUCTION TOTALS
Channel 2005 2004 % Change
InterFirst Wholesale Lending $40.2 billion $39.6 billion 2%
National Lending Center $2.9 billion $5.4 billion -46%
LaSalle Bank Midwest* $9.9 billion $11.1 billion -11%
& LaSalle Bank Loan
Origination Channels
Financial Institutions $377 million $427 million -12%
Group
TOTAL $53.4 billion $56.5 billion -6%
* Includes second mortgage production (both closed-end mortgages and lines of credit) originated through LaSalle Bank and LaSalle Bank Midwest. These loans are closed in the name of the individual bank entity.
About ABN AMRO Mortgage Group, Inc.
ABN AMRO Mortgage Group is one of the largest loan originators and loan servicers in the United States. It produces mortgage loans and provides related services through its various divisions, including InterFirst Wholesale Mortgage Lending, mortgage.com and AMCAP. ABN AMRO Mortgage Group also originates mortgage loans generated through its LaSalle Bank and LaSalle Bank Midwest bank branches. Headquartered in Ann Arbor, Michigan, ABN AMRO Mortgage Group has approximately 3,000 employees located throughout the United States.
About ABN AMRO N.V.
Netherlands-based ABN AMRO is a leading international bank with total assets of EUR 899.3 bln (as of September 30, 2005). It has over 3,000 branches in more than 60 countries and territories, and has a staff of over 98,000 full-time equivalents worldwide. ABN AMRO is listed on the Euronext and New York stock exchanges.
Source: prnewswire
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