home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

E-LOAN Expects to Report Record Mortgage and Home Equity Direct Margin In Third Quarter 2001

E-LOAN's Low-Cost Producer Strategy Is Paying Off

DUBLIN, Calif., Sept. 24 /PRNewswire/ -- E-LOAN, Inc. (Nasdaq: EELN), a leading online lending company, today announced it expects to report record mortgage and home equity direct margin in the third quarter of 2001. E-LOAN's direct operating margin is defined as revenue minus variable and fixed operations expense.

In the third quarter of 2001, E-LOAN expects mortgage direct margin to exceed 50 percent. This represents a significant improvement from the 41 percent direct margin reported in the second quarter of 2001.

Also in the third quarter of 2001, E-LOAN expects home equity direct margin to exceed 40 percent. This represents a significant improvement over the 21 percent direct margin reported in the second quarter of 2001. E-LOAN began funding home equity loans and enhanced its home equity product offering in December 2000.

``Clearly our low-cost producer strategy is paying off,'' said Matt Roberts, E-LOAN's Chief Financial Officer. ``We're enjoying very healthy margins while remaining extremely competitive on price. We now have a winning formula for attracting customers and ensuring a profitable, cash flow positive business.''

The following table is designed to help investors better understand E-LOAN's business model by providing an outline of the company's expected average per loan economics for both its mortgage and home equity businesses.


Per Loan Economics ($$)
                                                1st Mortgage       Home Equity





    Average Loan Size                              $222,000           $51,000





    Revenue excl. Int Income                         $3,200              $950


    Operations Expense excl. Int. Expense            $1,600              $570





    Direct Margin                                    $1,600              $380


       Direct Margin as a % of Revenue                  50%               40%








    Per Loan Economics (bps)


                                                 1st Mortgage      Home Equity





    Average Loan Size                               $222,000          $51,000





    Revenue excl. Int Income                         144 bps          186 bps


    Operations Expense excl. Int. Expense             72 bps          112 bps





    Direct Margin                                     72 bps           74 bps


       Direct Margin as a % of Revenue                   50%              40%
MortgageDaily.com
About E-LOAN, Inc.
E-LOAN, Inc., a leading online lending company, offers consumer loans and debt management services online at www.eloan.com. E-LOAN has reinvented the consumer loan process by offering a broad choice of products from many lenders for mortgages, home equity loans, auto loans, education loans, credit cards and small business loans in a secure online environment, combined with comprehensive personal service from dedicated loan consultants. Through the second quarter of 2001, E-LOAN originated over $5.5 billion in consumer loans. The company's loan processing centers are located in Dublin, CA and Jacksonville, FL. E-LOAN, Inc. is publicly traded on the Nasdaq system under the symbol EELN.

This news release contains forward-looking statements based on current expectations that involve risks and uncertainties. E-LOAN's actual results may differ from the results described in the forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, general conditions in the mortgage and auto industries, interest rate fluctuations, and the impact of competitive products. These and other risk factors are detailed in E-LOAN's periodic filings with the Securities and Exchange Commission.

E-LOAN Press Contact: E-LOAN Company Contact:
Laurie Logan Tiffany Kelley
Cosmo Public Relations Public & Investor Relations
415-652-3385 925-560-2614
[email protected] [email protected]

SOURCE: E-LOAN, Inc.
hosted by USANow.net

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders