eTrade 2010 Annual Report Download - page 65
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The breakdowns by current LTV/CLTV, documentation type and FICO score of our two mortgage loan
portfolios, one- to four-family and home equity, are as follows (dollars in millions):
One- to
Four-Family Home Equity
December 31, December 31,
Current LTV/CLTV(1) 2010 2009 2010 2009
<=70% $1,380.3 $ 2,095.3 $1,084.9 $1,379.6
70% – 80% 852.9 1,148.2 400.0 507.6
80% – 90% 1,168.3 1,464.2 575.9 705.6
90% – 100% 1,161.2 1,500.9 727.0 885.9
>100% 3,607.6 4,358.5 3,622.5 4,291.0
Total mortgage loans receivable $8,170.3 $10,567.1 $6,410.3 $7,769.7
Average estimated current LTV/CLTV(2) 100.8% 97.3% 107.7% 106.0%
Average LTV/CLTV at loan origination(3) 70.6% 70.1% 79.3% 79.5%
(1) Current CLTV calculations for home equity loans are based on the maximum available line for home equity lines of credit and
outstanding principal balance for home equity installment loans. Current property values are updated on a quarterly basis using the most
recent property value data available to us. For properties in which we did not have an updated valuation, we utilized home price indices
to estimate the current property value.
(2) The average estimated current LTV ratio reflects the outstanding balance at the balance sheet date, divided by the estimated current
property value.
(3) Average LTV/CLTV at loan origination calculations are based on LTV/CLTV at time of purchase for one- to four-family purchased
loans and undrawn balances for home equity loans.
One- to
Four-Family Home Equity
December 31, December 31,
Documentation Type 2010 2009 2010 2009
Full documentation $3,556.5 $ 5,708.6 $3,201.4 $3,735.7
Low/no documentation 4,613.8 4,858.5 3,208.9 4,034.0
Total mortgage loans receivable $8,170.3 $10,567.1 $6,410.3 $7,769.7
One- to
Four-Family Home Equity
December 31, December 31,
Current FICO(1) 2010 2009 2010 2009
>=720 $4,438.4 $ 6,313.2 $3,101.8 $4,154.4
719 – 700 709.6 870.1 665.7 782.6
699 – 680 566.3 698.0 550.8 622.9
679 – 660 434.8 492.8 411.7 472.6
659 – 620 634.0 647.9 512.5 584.8
<620 1,387.2 1,545.1 1,167.8 1,152.4
Total mortgage loans receivable $8,170.3 $10,567.1 $6,410.3 $7,769.7
(1) FICO scores are updated on a quarterly basis; however, as of December 31, 2010 and December 31, 2009, there were some loans for
which the updated FICO scores were not available. The current FICO distribution as of December 31, 2010 included original FICO
scores for approximately $218 million and $168 million of one- to four-family and home equity loans, respectively. The current FICO
distribution as of December 31, 2009 included original FICO scores for approximately $365 million and $847 million of one- to four-
family and home equity loans, respectively.
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