$1.6 billion August production
By MortgageDaily.com staff
9/8/2005

American Mortgage Network's production edged up in August and stands significantly above last year.

The subsidiary of AmNet Mortgage Inc. announced today that it funded $1.6 billion in mortgage loans last month, up slightly from $1.5 billion in July and way above the $741 million in August 2004.

Alt-A loans reportedly represented 31% of the latest volume, while subprime, home equity and second mortgage originations aggregated another 9%.

The San Diego-based mortgage banker appears well on its way to a quarterly production increase as the pipeline of applications, reportedly at $2.5 billion in August, was higher than in July.

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