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E*TRADE Reaches Latest Milestone in Securing Core Financial Relationship
With Consumers;
Maintains Its Leadership Position as One of the Largest Virtual Retail
Mortgage Lenders
ARLINGTON, Va., Nov. 12 /PRNewswire/ --
E*TRADE Bank, a wholly-owned subsidiary of E*TRADE Group, Inc. (NYSE: ET), and the nation's largest pure- play branchless bank, today announced its latest milestone: funding more than $4 billion in mortgage originations through E*TRADE Mortgage, one of the nation's largest online mortgage originators.
E*TRADE Mortgage continues to advance E*TRADE's revenue diversification strategy and enhance the company's fee-based annuity income stream. The financial integration of the E*TRADE Mortgage platform with the company's best-of-breed products and services provides a strong cross-selling opportunity to E*TRADE's customer base, further deepening the core financial relationship with E*TRADE's customer households.