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ABN Amro Acquisition Moves Citi up Rankings.
ANN ARBOR -- Citigroup has agreed to purchase ABN Amro Mortgage Group here for an undisclosed sum, a purchase that will make it the nation's fourth largest residential servicer with $728 billion in receivables. The sale effectively removes AAMG - once the nation's largest wholesale funder - as a major player in mortgages.
The sale also will put CitiMortgage in a virtual tie with Wells Fargo Home Mortgage for the No. 3 spot among residential wholesalers, according to figures compiled by this newspaper and the Quarterly Data Report.
AAMG's parent, LaSalle Bank Corp., will continue to originate home mortgages but only through its bank branches in Illinois, Indiana and Michigan.
In November, National Mortgage News, MSN's sister publication, was the first to report that ABN Amro was for sale.
Citigroup's residential arm, CitiMortgage of O'Fallon, Mo., currently ranks sixth among funders and fifth among servicers with a $504 billion portfolio, according to the Quarterly Data Report. (See table.) CitiMortgage will incorporate into its current operation, AAMG's wholesale/broker platform, InterFirst, and Mortgage.com.
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- ABN Amro On Selling Block?
- Magazine article from: National Mortgage News Muolo, Paul November 6, 2006 700+ words
...newspaper and the Quarterly Data Report. ABN Amro Mortgage ranks 17th...it. At a Glance: ABN Amro Mortgage ($ in millions...rank 13th Parent: ABN Amro Holding NV (Dutch...Source: NMN/Quarterly Data Report. Questions? Email...
- ABN Amro Mulling Unit's Sale?(ABN AMRO Mortgage Group Inc.)
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...all company divisions to an ABN AMRO brand, when it is likely...different on the corporate level. ABN AMRO's U.S. operation is called ABN AMRO North America Inc. The Chicago...Mortgage News' quarterly data report, AAMG ranked as the sixth...
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- Magazine article from: Mortgage Servicing News Muolo, Paul December 1, 2006 700+ words
...executives, Dutch bank ABN Amro Holding NV is contemplating...compiled by the Quarterly Data Report, and Mortgage Servicing...it's mind.) As for ABN Amro Mortgage, a spokesman...billion in product. ABN Amro Mortgage ranks 17th among...
- Citigroup Bid Wins ABN Amro.
- News wire article from: The America's Intelligence Wire January 29, 2007 700+ words
...has agreed to purchase ABN Amro Mortgage Group here for...newspaper and the Quarterly Data Report. AAMG's parent, LaSalle...the first to report that ABN Amro was for sale. Citigroup...according to the Quarterly Data Report. (See table.) CitiMortgage...
- CitiMortgage and ABN Amro Mortgage.
- News wire article from: The America's Intelligence Wire January 29, 2007 700+ words
...Name at 9/30/06 Share Rank ABN Amro Mortgage $224,309 2.56% 8...Prod. Name in 3Q 2007 Share Rank ABN Amro Mortgage $8,866 1.06% 18 CitiMortgage...figures. Source: NMN/Quarterly Data Report. Questions? Email: Paul.MuoloSourceMedia...
- Wholesale M&A: Citi Acquiring ABN.(Citygroup acquires ABN AMRO Mortgage Group...
- Magazine article from: Origination News Muolo, Paul February 1, 2007 700+ words
...announcement that it will purchase ABN Amro Mortgage, Ann Arbor, Mich...compiled by ON and the Quarterly Data Report. Currently, CitiMortgage ranks...News was the first to report that ABN Amro was for sale.) Besides taking...
- ABN Amro Tops Once Again in Wholesale.
- Magazine article from: Origination News Muolo, Paul April 1, 2003 700+ words
ABN Amro Mortgage here was the wholesale king in 2002, funding more than $90...final production figures compiled by ON and its affiliate, the Quarterly Data Report, residential lenders funded a record $2.78 trillion in home loans...
- Wholesale Lenders, 3Q Production (a Sample).(ABN AMRO Mortgage Group...
- Magazine article from: Origination News November 1, 2006 700+ words
...Whol. Vol. Whol. Vol. % Firm Name 3Q '06 3Q '05 Change ABN Amro Mortgage $5,130 $8,769 (41%) American Mort. Network...address below. (BC) Subprime specialist. Source: Quarterly Data Report/ON. Questions? Email: Paul.Muolo<at>SourceMedia...
Source: HighBeam Research, ABN Amro Acquisition Moves Citi up Rankings.