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  I have been in the bank
  i want management level
  i am Foreign Qualified
  Being a fresher, I woul
  Mortgage Leadn Processi

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mortgage.com Offers Home Buyers LIBOR and Interest-Only Loans

ABN AMRO Mortgage Group, Inc., one of the nation's leading mortgage lenders, recently successfully completed the roll-out of two new retail lending products through mortgage.com. The new, consumer-friendly products are interest-only and LIBOR (London Inter-Bank Offer Rate) adjustable rate mortgage (ARM) loans.


"These new loan products available through mortgage.com assist consumers by lowering their monthly payments, freeing their money for other uses," said Mike Maher, group senior vice president, ABN AMRO Mortgage Group. "In this current economy, many families are finding that they do not have extra money to either save or invest and many more families are having trouble making ends meet each month. The extra 'cash-in-hand' provided by mortgage.com's interest-only and LIBOR ARM mortgage loans enable home owners to pay off other debt, invest or save."


Consumers benefit from mortgage.com's new adjustable-rate interest-only mortgage by either affording a larger house with a lower monthly payment or substantially reducing monthly payments on their current home. With mortgage.com's new interest-only loan product, the interest rate remains fixed and home owners pay only on the mortgage loan's interest for the first 3, 5, 7 or 10-years of a 30-year term.


The new LIBOR ARM available at mortgage.com offers consumers lower initial interest rates and monthly payments than a conventional fixed-rate loan product. Periodic and lifetime rate caps determine the maximum allowable increases in the interest rate, providing consumers with stability. mortgage.com offers 1, 3, 5, 7 and 10-year LIBOR ARM programs.


Consumers who obtain either of mortgage.com's new products benefit from ABN AMRO Mortgage Group's industry leading OneFee(SM) mortgage. mortgage.com's interest-only and LIBOR loans both offer consumers the simplicity and certainty of OneFee. A departure from the traditional mortgage loan process, OneFee guarantees the loan's lender-related closing costs at the time its interest rate is locked.


About ABN AMRO Mortgage Group, Inc.


ABN AMRO Mortgage Group is one of the largest loan originators and loan servicers in the United States. ABN AMRO Mortgage Group produces mortgage loans and provides related services through its various divisions. ABN AMRO Mortgage Group has approximately 3,000 employees located throughout the United States.


About ABN AMRO


ABN AMRO is a prominent international bank, its origins going back to 1824. ABN AMRO ranks 11th in Europe and 20th in the world based on tier 1 capital, with over 3,000 branches in more than 60 countries, a staff of about 107,000 full-time equivalents and total assets of EUR 632.8 billion (as of June 30, 2004). ABN AMRO is listed on the Euronext, London and New York stock exchanges.


Source: 10/14/2004 MMag 410_011
Company: ABN AMRO Mortgage Group
Contact: Jennifer Cornell , jenn@eilerpr.com , Phone: (734) 761-3399 , Fax: (734) 761-3724


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