E-LOAN Achieves Record Auto Loan Volume; Fourth Quarter Auto Loan Volume Up 190% Over Fourth Quarter 1999
10 January 2001
E-LOAN Achieves Record Auto Loan Volume; Fourth Quarter Auto Loan Volume Up 190% Over Fourth Quarter 1999
DUBLIN, Calif.--Jan. 10, 2001--E-LOAN, Inc. , (www.eloan.com), a leading online lending company, today announced it achieved record auto loan volume in the fourth quarter of 2000. In the quarter, E-LOAN originated 15,671 auto loans, totaling $320 million, an increase of 190 percent over the fourth quarter in 1999 and an increase of 70% percent over the third quarter in 2000."We're pleased to see such an increase in a quarter that saw overall auto industry volumes decline," said Steve Herz, E-LOAN's head of auto operations. "The performance of our auto loan business in the fourth quarter is evidence that consumers are seeing great value in E-LOAN's no-hassle process and lower rates."
About E-LOAN, Inc.
E-LOAN, Inc., a leading online lending company, offers consumer loans and debt management services online at www.eloan.com. E-LOAN has reinvented the consumer loan process by offering a broad choice of products from many lenders for mortgages, home equity loans, auto loans, credit cards and small business loans in a secure online environment, combined with comprehensive personal service from dedicated loan consultants. Through the third quarter of 2000, E-LOAN originated over $3.1 billion in consumer loans. The company's loan processing centers are located in Dublin, Calif. and Jacksonville, Fla. E-LOAN, Inc. is publicly traded on the Nasdaq system under the symbol EELN.
This news release contains forward-looking statements based on current expectations that involve risks and uncertainties. E-LOAN actual results may differ from the results described in the forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, general conditions in the mortgage and auto industries, interest rate fluctuations, and the impact of competitive products. These and other risk factors are detailed in E-LOAN's periodic filings with the Securities and Exchange Commission.