Mortgage Daily Logo
mortgage news from industry experts

Lenders Added to Financial Indexes

Lenders Added to Financial Indexes

E-LOAN, Delta now members of Russell 3000, 2000 & Microcap indexes

June 27, 2005


An Internet originator and a small subprime lender are now included in a trio of small cap indexes.

E-LOAN said it became a member of the Russell Investment Group’s family of U.S. indexes, which are used by investment managers and institutional investors to index funds and as benchmarks for both passive and active investment strategies. The online direct lender reported it would be incorporated into the Russell 3000 Index, the Russell 2000 Index and the new Russell Microcap Index.

Russell determines membership for its equity indexes primarily by objective, market capitalization rankings and style attributes.

“We are very pleased that our market capitalization has grown to meet the size requirement for inclusion in the Russell indexes,” said Pleasanton, Calif.-based E-LOAN CEO Mark Lefanowicz in the announcement. “We believe this higher level of visibility is an important turning point for E-LOAN and our shareholders.”

New York-based Delta Financial Corp. also has been integrated into the same Russell lists, the nonprime originator announced Monday.

“We believe the company’s inclusion in these highly visible, nationwide indices will bring Delta’s story to a significantly broader range of investors who rely on the Russell indices as a key part of their investment strategy,” said Delta CEO and President Hugh Miller in a written statement.

Membership in the Russell 3000 remains in place for one year, offers investors a “comprehensive, unbiased, and stable barometer of the broad [equities] market” and represents 98% of the U.S. market. Companies included in the Russell 3000 are automatically included in the large-cap Russell 1000, which lists the largest 1000 securities within the 3000 and represent about 92 percent of the market, or are placed in the small-cap Russell 2000, which represents the smallest 2000 securities, according to the index provider company.

The Russell Microcap Index will be comprised of the smallest 1,000 securities in the small-cap Russell 2000 plus the next 1,000 companies based on a ranking of all U.S. equities by market capitalization, Russell Investment said.

Final membership in the Russell indexes will reportedly be published on July 1.

Coco Salazar is an assistant editor and staff writer for

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts