E-Loans

Part of a series The Great American Write-Down

E-Loans is the mortgage division of E-Trade (ETFC) wrote $197 million off their books this month and made no forecasts for what is going to happen in the near future. The rumor mill has it that the problem may be significant enough to bring down the entire company. Only time will answer that one but their survival is not going to be painless.

Articles:
UPDATE 1-E*Trade CEO rules out bankruptcy-CNBC
Shares of E-Trade Fall on Plans for Mortgage-Related Writedowns in the Fourth Quarter