eTrade 2005 Annual Report Download - page 144

Table of Contents
The following table shows the percentage of adjustable and fixed-rate loans in the Company’s portfolio (dollars in thousands):
December31, 2005
December31, 2004
$Amount
%ofTotal
$ Amount
%ofTotal
Adjustable rate loans:
Real estate
$
10,972,028
57.0
%
$
6,839,796
58.8
%
Credit card and other
277,597
1.4
206,039
1.8
Total adjustable rate loans
11,249,625
58.4
7,045,835
60.6
Fixed rate loans
8,002,290
41.6
4,588,254
39.4
Total loans
$
19,251,915
100.0
%
$
11,634,089
100.0
%
The weighted-average remaining maturity of mortgage loans secured by one- to four-family residences was 341 and 340 months at
December31, 2005 and 2004, respectively. Additionally, all mortgage loans outstanding at December31, 2005 and 2004 in the
held-for-investment portfolio were serviced by other companies
.
The Company actively sells its originated loans and loans originated by correspondents. The Company may sell loans that it originally
purchased from others. A summary of these activities is presented below (in thousands):
Year Ended December31,
2005
2004
2003
Loans sold:
Originated
$
2,728,094
$
4,339,901
$
9,401,248
Purchased
1,028,747
2,395,886
4,114,563
Total loans sold
$
3,756,841
$
6,735,787
$
13,515,811
Gain on sales of loans:
Originated
$
54,847
$
82,716
$
150,393
Purchased
(1,208
)
(3,447
)
186
Total gain on sale of loans
$
53,639
$
79,269
$
150,579
Activity in the allowance for loan losses is summarized as follows (in thousands):
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