ABN AMRO's $296.6MM P-T Ctfs Series 2003-12 Rated by Fitch.

Business Editors

NEW YORK--(BUSINESS WIRE)--Dec. 2, 2003

ABN AMRO Mortgage Corporation's (AMAC) multi-class mortgage pass-through certificates, series 2003-12, are rated by Fitch Ratings as follows:

-- $288,573,262 classes 1A, 2A, 3A1, 3A2, A-P, and R (senior

certificates) 'AAA';

-- $4,307,000 class M certificates 'AA';

-- $1,783,000 class B-1 certificates 'A';

-- $891,000 class B-2 certificates 'BBB';

-- $594,000 privately offered class B-3 certificates 'BB';

-- $445,000 privately offered class B-4 certificates 'B'.

The privately offered class B-5 certificates are not rated by Fitch.

The 'AAA' rating on the senior certificates reflects the 2.85% subordination provided by the 1.45% class M, 0.60% class B-1, 0.30% class B-2, 0.20% privately offered class B-3, 0.15% privately offered class B-4 and 0.15% privately offered class B-5.

Fitch believes the amount of credit enhancement will be sufficient to cover credit losses, including limited bankruptcy, fraud and special hazard losses. The ratings also reflect the high quality of the underlying collateral originated by ABN AMRO Mortgage Group, Inc. (AAMG), the integrity of the legal and financial structures and the servicing capabilities of Washington Mutual Bank, FA (rated 'RPS2+' by Fitch).

The trust is secured by conventional, 30-year fixed-rate mortgage loans, which are separated into three cross-collateralized groups or 'tracks' by the underlying loans' interest rate. As of Nov. 1, 2003 (the cut-off date), the aggregate principal balance is $297,039,584.

Track 1 collateral consists of recently originated, conventional, fixed-rate, fully amortizing, first lien, one- to two-family residential mortgage loans, with remaining terms to stated maturity ranging from 353 to 360 months. The weighted average original loan-to-value ratio (OLTV) of the track is approximately 67.38%; approximately 0.50% of the mortgage loans have an OLTV greater than 80%. The weighted average coupon (WAC) of the mortgage loans is 5.62% and the weighted average FICO score is 742. Cash-out and rate/term refinance loans represent 11.20% and 44.20% of the track, respectively. The states that represent the largest geographic concentration are California (49.60%), New York (8.50%), and Illinois (6.30%). All other states represent less than 5% of the outstanding balance of Track 1.

Track 2 collateral consists of recently originated, conventional, fixed-rate, fully amortizing, first lien, one- to two-family residential mortgage loans, with remaining terms to stated maturity ranging from 348 to 360 months. The weighted average OLTV of the track is approximately 70.10%; approximately 1.60% of the mortgage loans have an OLTV greater than 80%. The WAC of the mortgage loans is 6% and the weighted average FICO score is 740. Cash-out and rate/term refinance loans represent 13.90% and 30% of the track, respectively. The states that represent the largest geographic concentration are California (50%), New York (6.40%), and Florida (5.30%). All other states represent less than 5% of the outstanding balance of Track 2.

Track 3 collateral consists of recently originated, conventional, fixed-rate, fully amortizing, first lien, one- to two-family residential mortgage loans, with remaining terms to stated maturity ranging from 348 to 360 months. The weighted average OLTV of the track is approximately 73.39%; approximately 3.20% of the mortgage loans have an OLTV greater than 80%. The WAC of the mortgage loans is 6.37% and the weighted average FICO score is 741. Cash-out and rate/term refinance loans represent 12.30% and 19.40% of the track, respectively. The states that represent the largest geographic concentration are California (51.28%), Virginia (5.94%), and Illinois (5.15%). All other states represent less than 5% of the outstanding balance of Track 3.

None of the mortgage loans are 'high cost' loans as defined under any local, state or federal laws. For additional information on Fitch's rating criteria regarding predatory lending legislation, please see the press release issued May 1, 2003 entitled, 'Fitch Revises Rating Criteria in Wake of Predatory Lending Legislation', available on the Fitch Ratings web site at 'www.fitchratings.com'.

AAMG originated all of the loans. U.S. Bank, N.A. will serve as trustee. AMAC, a special purpose corporation, deposited the loans in the trust, which issued the certificates, representing undivided beneficial ownership in the trust. For federal income tax purposes, election will be made to treat the trust as three real estate mortgage investment conduits (REMICs).