ABN AMRO Mortgage Group's Mortgage.com to Offer "One Click Refinancings"
ANN ARBOR, Mi -- (September 6, 2001) -- ABN AMRO Mortgage Group, Inc., a subsidiary of ABN AMRO North America, Inc. and the nation's sixth largest mortgage lender, is offering its customers a new concept to ease refinancing to be available at its Mortgage.com Web site.
Mortgage.com's 'one click refinancing' capability enables the over 1 million existing customers of any ABN AMRO Mortgage Group (AAMG) division to simply provide their account number and click their computer's mouse to learn if refinancing their current home loan would save them money. 'One click refinancing' negates the long hold time some customers experience when calling their current lender, and is much easier for the consumer who traditionally has had to supply information and supporting documentation to take advantage of lower interest rates. The streamlined service provides immediate, customized savings analysis, an instant loan approval and online rate protection. Customers can even schedule their closing from the secure mortgage.com site.
Once the customer has entered their account number and 'clicked,' AAMG analyzes their existing loan terms, compares it to current rate information and recommends whether or not the customer would save money through refinancing. The recommendation includes the full rate and fees for the new loan, and a break-even analysis to let the customer know how long it would take to recoup the closing costs.
'One click refinancing' also indicates if the customer is qualified for streamlined documentation and how much money refinancing will save them monthly as well as over the lifetime of the loan. 'One click refinancing,' combined with ABN AMRO's OneFee concept, provides the friendliest process for consumers, with no surprises. "Once customers have decided to refinance using Mortgage.com's 'one click refinancing,' they won't have to re-enter any information to process the transaction," explains William Newman, ABN AMRO Mortgage Group executive vice president.
"The normal process of getting a rate quote, comparing closing cost options, figuring out your savings and locking your rate is now down to seconds, not days. One click of the mouse is truly all it takes to select their preferred loan program, proceed with online approval, schedule their closing and lock in the loan's rate." "We are, once again, leading our industry through the use of technology," Newman added. "We're certain our customers will enjoy the benefits of added efficiency and convenience 'one click' provides."
ABN AMRO Mortgage Group, Inc., is the sixth largest loan originator and ninth largest loan servicer in the United States. ABN AMRO Mortgage Group produces mortgage loans and provides related services through its various divisions including InterFirst Wholesale Mortgage Lending, LaSalle Home Mortgage, ABN AMRO Mortgage, ABN AMRO National Lending Center, ABN AMRO Apartment Lending and ABN AMRO Mortgage Capital Markets. ABN AMRO Mortgage Group has more than 2,400 employees located throughout the United States.
ABN AMRO Mortgage Group, Inc. is an indirect subsidiary of Netherlands- based ABN AMRO Bank N.V., one of the world's largest banks with total assets of EUR 543 billion and a presence in more than 3,500 locations in over 70 countries and territories. ABN AMRO is organized into three autonomous strategic business units responsible for managing wholesale clients; consumer and commercial clients; and private clients and asset management. In North America, ABN AMRO is headquartered in Chicago and has nearly $76 billion in assets. Subsidiaries include LaSalle Bank in Chicago, Michigan National Bank and Standard Federal Bank in Michigan.