ABN AMRO Mortgage Assigned An `RPS2' Resi Servicer Rating.Business Editors NEW YORK--(BUSINESS WIRE)--March 9, 2000 Fitch IBCA IBCA International Braille Chess Association IBCA Institute of Burial and Cremation Administration IBCA Integrated Business Communications Alliance IBCA International Barbeque Cookers Association IBCA Department of Interior Board of Contract Appeals assigns ABN AMRO Mortgage Group, Inc. (AAMG AAMG Ambient Air Monitoring Group (US EPA) AAMG Antiaircraft Machine Gun AAMG Asociación Amigos de Los Niños (Association of Friends of the Children, Guatemala) AAMG Associated Anesthesiologists Medical Group ) its `RPS rps abbr. revolutions per second 2' residential primary servicer rating for prime product. The `RPS2' rating reflects the solid financial backing of ABN AMRO Bank N.V., one of the world's ten largest banks, as well as AAMG's strong collateral performance, experienced management team, and effective performing loan servicing administration procedures and controls. In 1998, AAMG was formed to combine the mortgage operations of ABN AMRO North America, Inc. into one operating entity providing a platform for growth and expansion across the nation. In North America, ABN AMRO is headquartered in Chicago and has $162 billion in assets. Major North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. affiliates include ABN AMRO Incorporated, a full service investment banking, advisory and brokerage firm; ABN AMRO Mortgage Group, Inc.; ABN AMRO Asset Management (USA) Inc.; as well as Chicago's LaSalle Bank N.A., LaSalle Bank FSB (FrontSide Bus) See system bus. FSB - front side bus , Standard Federal Bank in Michigan, and European American Bank (EAB EAB Emerald Ash Borer (insect) EAB Environmental Appeals Board (EPA) EAB Educational Activities Board (IEEE) EAB Environmental Advisory Board EAB Egyptian American Bank ) in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . As of Nov. 30, 1999, AAMG was the 12th largest servicer in the nation servicing approximately 669,000 loans for over $71.8 billion. The majority (71%) of the servicing portfolio is comprised of Fannie Mae, Freddie Mac, and Ginnie Mae servicing. AAMG entered the jumbo servicing market three years ago and currently services approximately $4 billion jumbo loans. In Nov. 1999, AAMG's parent company, ABN AMRO North America, Inc., also purchased Atlantic Mortgage and Investment Corp., Jacksonville, FL. With this acquisition, AAMG became the 10th largest servicer of residential product in the U.S., servicing $91 billion. Fitch IBCA will continue to monitor the company's progress in maintaining consistent performance throughout completion of the consolidations and in the pursuit of its diversification and growth initiatives. Fitch IBCA rates residential mortgage primary, master, and special servicers on a scale of 1 to 5, with 1 being the highest rating. For more information on the review and rating process for servicers, see Fitch IBCA's Servicer Rating Criteria research report titled `Rating Residential Loan Servicers' dated Aug. 3, 1999, available on Fitch IBCA's web site at `www.fitchibca.com'. |
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