ABN AMRO Mortgage Group‘s 2004 loan production totals plunged 57 percent from the previous year, the company reported Wednesday.

The lender’s total production for 2004 was $56.5 billion, compared to $131 billion in 2003. December 2004 production was down 36 percent from the previous month, at $3.7 billion compared to $5.8 million in December 2003.

Only the company’s Financial Institutions Group showed positive growth, pulling in $427 million in production for 2004, a 103 percent increase from 2003’s $210 million in production. The group had $34 million in production in December 2004, compared to $23 million in December 2004, a 48 percent gain.

Otherwise, the drop in production was across the company’s business channels both yearly and monthly. InterFirst Wholesale Lending dropped 41 percent in December 2004 compared to December 2003, and 60 percent in 2004 compared to 2003. The National Lending Center was down 46 percent from the previous December and 54 percent compared to 2003. Standard Federal Bank and LaSalle Bank loan origination channels were down 3 percent from the previous December and down 46 percent in 2004 compared to 2003.

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 janis@inman.com or call (510) 658-9252, ext. 140.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Real estate news and analysis that gives you the inside track. Subscribe to Inman Select for 50% off.SUBSCRIBE NOW×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription