eTrade 2004 Annual Report Download - page 18
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Table of Contents
Index to Financial Statements
The following table shows our loan purchase, sale and repayment activity, including loans acquired through business combinations (in
thousands):
We primarily purchase pools of loans on the secondary market using our correspondent network. The following table shows the number
of pools and the associated number of loans that we purchased:
12
Year Ended December 31,
2004
2003
2002
Loans, net
—
beginning of year
$
9,131,393
$
7,365,720
$
8,010,457
Loan purchases and originations:
One
-
to four
-
family variable
-
rate
3,584,603
4,035,699
3,565,449
One
-
to four
-
family fixed
-
rate
3,911,575
10,582,799
8,921,213
Consumer and other loans
5,636,045
4,528,864
2,756,830
Total loan purchases and originations
13,132,223
19,147,362
15,243,492
Loans sold, repurchased and repaid:
Sold
(6,735,787
)
(13,515,811
)
(12,011,864
)
Repurchased
4,408
1,418
—
Repaid
(3,723,136
)
(3,885,916
)
(3,948,424
)
Total loans sold, repurchased and repaid
(10,454,515
)
(17,400,309
)
(15,960,288
)
Net change in deferred discounts and loan fees
14,549
54,846
105,715
Net transfers to real estate owned and other repossessed assets
(28,781
)
(26,045
)
(25,864
)
Net change in allowance for loan losses
(9,834
)
(10,181
)
(7,792
)
Increase (decrease) in total loans
2,653,642
1,765,673
(644,737
)
Loans, net
—
end of year
$
11,785,035
$
9,131,393
$
7,365,720
Year Ended December 31,
2004
2003
2002
Number of pools
3,568
5,686
4,448
Number of loans
14,164
18,767
10,527