ABN Amro Mortgage Group Inc., Ann Arbor, Mich., has reported its 2002 production totaled a record-breaking $119 billion, a 44% increase over its origination volume in 2001.AAMG's production totaled $40.95 billion in the fourth quarter. Executive vice president William A. Newman credited the company’s OneFee offering with generating significant consumer interest and helping to drive its consumer-lending divisions to unprecedented production gains. AAMG's National Lending Center was the company’s fastest-growing channel, with production at $7.4 billion. Since OneFee was introduced through Mortgage.com, production through the site has increased more than 7,000%, Mr. Newman added. The company's website address is http://www.abnamro.com.
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Retail lender Rate separately launched yet another non-mortgage brand, with outdoor saunas and other furnishings following a high-end performance wear line.
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June purchase demand strengthened, refinances remained steady and pull-through improved, reversing May losses.
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The move is designed to align the two Utah-based businesses under a single unique name and comes two years after the bank acquired the home lender in 2024.
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Federal Reserve Bank of Dallas President Lorie Logan said at an event Thursday that conducting monetary policy actions through a third party would improve efficiency and make markets stronger.
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The Rithm subsidiary plans to reduce its involvement in decentralized operations through an agreement with the American Pacific Mortgage affiliate.
July 9 -
A week after falling to its lowest point since mid-May, the 30-year fixed rate mortgage turned higher as the 10-year Treasury rose 15 basis points since June.
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