The PNC Financial Services Group, Inc. (NYSE: PNC), announced today that ABN AMRO Mortgage Group, Inc., has executed an origination servicing agreement with PNC Consumer Services, PNC's loan processing division, to provide loan origination and fulfillment services for ABN AMRO's Home Equity Division. ABN AMRO Mortgage Group is the fifth largest loan originator and the seventh largest loan servicer in the United States and is an indirect subsidiary of ABN AMRO Bank N.V.
"We look forward to leveraging PNC Consumer Services' considerable resources -- our leading technology, depth of operational experience and talented staff -- to provide ABN AMRO customers a first-class loan application experience," said James DeFoggia, senior vice president, PNC Consumer Services. "Customers can contact our nationally recognized call center to apply for a loan or consult with an experienced lending specialist 24 hours a day, seven days a week."
Through this arrangement, ABN AMRO Mortgage Group will market its home equity products to customers who are invited to apply by calling PNC's call center. PNC Consumer Services loan center staff process the applications, underwrite and decision the loans, create the loan documentation packages and coordinate the loan closing with applicants.
In addition to the ABN AMRO program, PNC Consumer Services has loan origination and/or servicing relationships with several national financial services companies, including American Express, Prudential Financial, E*Trade Bank, Discover Financial Services and IndyMac Bank.
PNC Consumer Services was established by PNC Bank, N.A., in 1999 to leverage the company's technology and operations infrastructure to originate, fulfill and service loans for financial services companies.
PNC Bank, N.A. is a member of The PNC Financial Services Group, Inc. PNC, headquartered in Pittsburgh, is one of the nation's largest diversified financial services organizations, providing regional community banking; wholesale banking, including corporate banking, real estate finance and asset- based lending; wealth management; asset management and global fund services.
Visit PNC Consumer Services on the Web at www.pncconsumerservices.com.
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SOURCE: The PNC Financial Services Group, Inc.
CONTACT: Maureen Brown of PNC, +1-412-768-2752,
maureen.brown@pncbank.com
Web site: http://www.pnc.com/
http://www.pncconsumerservices.com/
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http://www.prnewswire.com/gh/cnoc/comp/701257.html
