Randy Conte, who had been chief operating officer of AAMG
for several years, is now chief financial officer of Cole Taylor Bank and chief operating officer of Taylor Capital Group Inc.
In addition to the automated ordering and receipt of the CVI, AAMG
is also realizing significant improvements in turn around time and quality of its collateral evaluations.
wanted a solution that was conversational--one that would ask a customer a question, then provide benefits back.
But by the middle of 2002, Newman says, it was becoming a challenge for ABN AMRO to retain its market share as the rest of the mortgage market moved to high loan-to-value (LTV) ratio, no-income verification, alternative-A and subprime lending, all of which AAMG
One of the key points in Goldstein's playbook of turnarounds is an improvement in profitability--a tough objective in a competitive, declining market, yet it is one of the first goals AAMG
seems to have attained.
The unit provides support to AAMG
in its purchase program, diversifying product sources by including purchased loans serviced by others in AAMG
Additionally, Fitch assigns AAMG
an 'RMS3' residential master servicer rating.
Under the FHA program, AAMG
has direct endorsement authority to approve FHA-insured loans, allowing the company to underwrite loans and submit them to FHA for insurance endorsement.
Since Fitch's last review, AAMG
has reorganized its executive management team to drive the company's six sigma initiatives and process improvements that have become the impetus of organizational realignment and cultural change.
With an overall index score of 756 on a 1,000-point scale, AAMG
ranked highest in customer satisfaction with the sales experience, the survey noted.
), Ann Arbor, Michigan, and president of InterFirst Wholesale Mortgage Lending, Ann Arbor, a unit of AAMG
Fitch's review confirmed that AAMG
has an experienced management team, and successfully leverages its significant origination experience in the prime mortgage markets.