ABN AMRO Mortgage Group‘s second-quarter loan production dropped 21 percent from a year ago, the company reported today.

The lender’s production total for the second quarter of 2005 was $15.4 billion, down from  $19.4 billion during the second quarter of 2004.

The drop in second-quarter production was across all of AAMG’s business channels: InterFirst Wholesale Lending (-16 percent); National Lending Center (-63 percent); Standard Federal Bank and LaSalle Bank loan origination channels (-12 percent); and the Financial Institutions Group (-45 percent).

“With mortgage interest rates hovering near six percent in the second quarter, AAMG’s production was driven by both purchases and refinances,” said Mike Maher, AAMG’s executive vice president.

“AAMG’s production in the second quarter is also reflective of real estate market conditions that are creating a favorable purchase environment. The current buyer’s real estate market is helping a wide variety of consumers purchase a home that meets their needs and budget, especially first-time home buyers,” Maher said.

“With the launch of its DreamFirst emerging markets product suite, AAMG is expecting continued strong performance throughout the remainder of the year,” Maher added.

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
×
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