E-LOAN Bucks National Trend by Continuing to Target Premium Jumbo Loan Borrowers

Business Wire, Sept 4, 2007

E-LOAN reduces rates to attract high quality borrowers as part of company's long-term growth strategy

PLEASANTON, Calif. -- E-LOAN([R]), an online consumer financial services company, today announced that it has substantially reduced the interest rate on its nonconforming loan product. E-LOAN has lowered the interest rate on its jumbo loan to 7.5 percent, with no points and no lender fees, for qualified borrowers with a FICO score of 740 or greater and a loan-to-value ratio of 75 percent or lower.

"While the mortgage market is forcing Wall Street and most other lenders to retreat from these premium jumbo loans, E-LOAN is leveraging its financial strength to aggressively pursue this valuable group of borrowers with highly competitive mortgage rates," said Mark Lefanowicz, president of E-LOAN. "This is consistent with E-LOAN's long-held strategy of offering the best priced loans to the most qualified borrowers. This is quite simply, smart lending."

While many other lenders have ceased offering loans over $417,000, severely restricted eligibility for those loans, or simply raised rates, E-LOAN is offering the interest rate on its 30-year fixed product at 7.5 percent with no lender fees or points. This rate will be available to qualified borrowers with a FICO score of 740 or greater and a loan-to-value ratio of 75 percent or lower.

Consumers can find additional information or an application for an E-LOAN jumbo loan at www.eloan.com.

About E-LOAN

E-LOAN is an online consumer direct lender dedicated to providing consumers with a simple, easy and open way to obtain mortgage, auto loans, home equity loans, and online savings and certificate of deposit accounts. Since its launch in 1997, E-LOAN has drawn upon its pro consumer values to improve the lending and online savings experience in revolutionary ways. By eliminating the traditional incentive structure to charge consumers higher rates, giving consumers free access to credit scores and eliminating lender fees, E-LOAN is providing a uniquely open, fair and honest process. Protecting consumers' financial privacy is also a paramount concern, leading E-LOAN to implement industry leading privacy practices and advocate strong consumer financial privacy protection laws. Consumers have recognized E-LOAN for its trustworthiness and respect for customers. Three independent studies conducted by TRUSTe and The Ponemon Institute ranked E-LOAN as one of the Top 20 Most Trusted Companies for Privacy in America. In another independent study conducted by The Customer Respect Group, E-LOAN received the overall highest rating in the Online Customer Respect Study of North America's largest financial services firms.

E-LOAN is a wholly-owned subsidiary of Banco Popular North America, a New York State-chartered bank, which in turn is a wholly-owned subsidiary of Popular, Inc., a full service financial services provider with more than $45 billion in assets and operations in Puerto Rico, the United States, the Caribbean and Latin America. E-LOAN deposit products are insured with the FDIC through Banco Popular North America. To find out more about E-LOAN and its products and services, logon to http://www.eloan.com or call 1-888-533-5333.