E-LOAN to Offer FHA Loans to Help Millions of Consumers in Tightening Credit Market

Business Wire, March 27, 2008

Down payments as low as 3% and competitive, fixed loan rates make FHA loans ideal for many first time homebuyers

PLEASANTON, Calif. -- E-LOAN([R]), a nationwide financial services company and privacy advocate, today announced that it will offer federally insured Federal Housing Administration (FHA) loans to consumers as part of a response to the tightening credit market.

"Unfortunately, we are seeing an unprecedented number of homeowners being forced to foreclose on their homes because they cannot afford their newly adjusted mortgage interest rates," said Mr. Lefanowicz. "For many, the flexible guidelines and competitive rates of these FHA mortgage loans will mean the difference between losing their homes and being able to keep their piece of the American dream fully alive."

With home values declining across the country and access to credit increasingly difficult to come by, many Americans are finding FHA home loans to be the perfect loan option for the following reasons:

* Down payments can be as low as 3% - perfect for someone who can afford a monthly payment but who doesn't have a large initial payment

* Down payments can be gifted from a relative

* Allows borrowers to refinance out of their higher adjustable rate loans and lock into a much lower fixed rate loan

* Loans are federally insured

* Suitable for borrowers across all credit spectrums, especially many first time borrowers who do not have a lengthy credit history

"This is a great loan product for the millions of buyers out there struggling to find a way to buy their first home - especially in today's ever-tightening credit markets," said Mr. Lefanowicz. "It is also ideal for borrowers with adjustable rate mortgages that are getting ready to reset into a higher rate."

For more information on an E-LOAN FHA loan go to www.eloan.com/fha.> About E-LOAN([R])

E-LOAN is a nationwide financial services company 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 that charges consumers higher rates and giving consumers free access to credit scores, 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. Since it started its operations, E-LOAN has funded over $32 billion in mortgage and consumer loans.

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 operations in Puerto Rico, the United States, the Caribbean and Latin America. E-Loan's 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.