E TRADE Financial Corp (ETFC)

[suzyHomemaker]

E-Trade to exit retail mortgage origination business

By Wallace Witkowski
Last update: 4:57 p.m. EDT May 9, 2008

SAN FRANCISCO (MarketWatch) -- E-Trade Financial Corp. (ETFC 3.85, -0.07, -1.8%) said it decided in April to exit the retail mortgage origination business, its last remaining loan origination channel, according to a Securities and Exchange Commission filing late Friday. The company said it will partner with a third party company to provide customers access to real estate loans after it exits the business. E-Trade said in the filing it originated about $116 million in one- to four-family loans through the business during the three months ended March 31.