TITLE

Amro Exits Mortgage Outsourcing

AUTHOR(S)
Shenn, Jody
PUB. DATE
February 2006
SOURCE
American Banker;2/16/2006, Vol. 171 Issue 32, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article discusses ABN Amro Mortgage Group Inc.'s discontinuance of a business line in which it handles the back-office origination work on loans that community banks sell it. Bank of America Corp. has also decided to close a big mortgage outsourcer it had inherited from its purchase of MBNA Corp. Michael Griffith and Chuck Reed of ABN Amro said the failure of its outsourcing model stemmed from issues involving small and midsize banks.
ACCESSION #
19827152

 

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