Industry News

ABN AMRO’s real estate loan production drops

Decline seen in both monthly, third-quarter totals

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ABN AMRO Mortgage Group's third-quarter production totals tumbled 69 percent from the same time a year ago, the company reported Wednesday. The lender's production total for the third quarter of 2004 was $11.9 billion, down from $38.2 billion during the third quarter of 2003. Its production total for September reached $3.6 billion, a 60 percent drop from its $9.1 billion total in September 2003. The drop in third-quarter production was across all of AAMG's business channels: InterFirst Wholesale Lending (69 percent); National Lending Center (78 percent); Standard Federal Bank and LaSalle Bank loan origination channels (63 percent); and Financial Institutions Group (38 percent). The company plans to release its third-quarter earnings results on Monday. ABN AMRO Mortgage Group is one of the largest loan originators and loan servicers in the country. *** Send tips or a Letter to the Editor to or call (510) 658-9252, ext. 140....