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Article: E*TRADE Global Asset Management Optimizes Sale of Approximately $1 Billion In Mortgage Loans for E*TRADE Bank; Portfolio Transaction Diversifies Revenue, Widens Interest-Rate Spreads And Creates New Investment Opportunities.
- Article from:
- PR Newswire
- Article date:
- December 24, 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 Bank, a wholly-owned subsidiary of E*TRADE Group, Inc. , and the nation's largest pure-play branchless bank, today announced that it recently sold more than $922 million of mortgage loans from its portfolio through E*TRADE Global Asset Management, Inc. (ETGAM) as it continues to advance its strategy of diversifying revenue and maximizing profitability. These transactions represent the continued evolution of ETGAM as an asset manager and distributor of fixed income securities to a global institutional customer base.
ETGAM structured and negotiated the terms of the sales on behalf of E*TRADE Bank with both United Bank of Switzerland (UBS) ...
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