ABN
AMRO Mortgage Loans
ABN AMRO Mortgage Group, Inc. is an indirect subsidiary
of ABN AMRO Bank N.V., one of the world's largest banks with total
assets of EUR 597 billion and a presence in more than 3,500 locations
in over 70 countries and territories. It is organized into three
autonomous strategic business units, responsible for managing wholesale
clients, consumer and commercial clients, private clients and asset
management. Their commitment to help people realize the dream of
homeownership reaches back over 100 years.
Better known within the industry as a mortgage service
more than a direct provider, their consumer direct practices are
cutting edge. They were among the first to use automated underwriting
technology – computer programs that evaluate risk and - and
are pioneers of “one fee” products (where the lender
charges one flat fee, that incorporates all non-recurring mortgage
fees, including underwriting and processing charges, title insurance,
settlement fees, and appraisal fees).
ABN AMRO Mortgage Options
ABN AMRO's use of automation makes them an excellent
choice for “plain vanilla” clients – clients who
have high-average to above-average credit (FICO) scores and easily
documented income, rather than high loan-to-value and non-prime
scenarios. Their rates are usually extremely competitive, especially
their intermediate ARMs – loans that are fixed for an initial
period of 3, 5, or 7 years, and then convert to a one-year adjustable.
That doesn’t mean that ABN AMRO doesn’t offer Fixed
Rate, Interest Only, LIBOR,
Cash Out, Refinance, Second Mortgages, Home Purchase, Reverse, Home
Equity Lines of Credit (HELOC), or Home
Equity Loans.
Their website is comprehensive, offering rate-watch
and fee-watch notifiers as well as general information, about how
they work and who they are, as well as articles on determining whether
or not a refinance is wise, and how homeowner's insurance really
works. In addition, there are links to mortgage-related essays and
features from inman.com on everything from predicting when and why
the Fed will increase interest rates, to explanations of how a Good
Faith Estimate works, to the tax issues associated with selling
investment property.
Where ABN AMRO Lends
ABN AMRO lends in most of the USA as “ABN AMRO,”
but brands itself as LaSalle Bank in the upper midwest. They are
also affiliated with the wholesale lender InterFirst, which aggressively
markets it's automated underwriting engine called MOAI.
ABN AMRO lends throughout the United States, and is
subject to the laws of the state in which specific property is located.
This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states. Mortgage Info makes no representation, express or implied, that you will receive a quote from any companies profiled on this site.
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