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Article: E*TRADE Bank Benefits From $1.4 Billion of Mortgage Originations In October and November; $278.6 Million of Direct Originations Increase Bank Spreads and Generate Cross-Sell Revenue.
- Article from:
- PR Newswire
- Article date:
- December 6, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ARLINGTON, Va. -- E*TRADE Group, Inc. , today announced that E*TRADE Bank has transferred to its portfolio $278.6 million in mortgage loans of the $1.4 billion originated by E*TRADE Mortgage in October and November. By placing high credit quality, direct-to-consumer mortgage loans into its asset portfolio, E*TRADE Bank is maximizing the strategic benefits of the acquisition of E*TRADE Mortgage.
"By directly originating through E*TRADE Mortgage, E*TRADE Bank is able to generate optimal yields on superior credit quality mortgages," said Mitchell Caplan, Chief Financial Products Officer and Managing Director, North America, E*TRADE Group, Inc. "Selectively ...