eTrade 2009 Annual Report Download - page 67

The breakdown by current LTV/CLTV and FICO score of our two main loan portfolios, one-to four-family
and home equity, are as follows (dollars in millions):
One- to
Four-Family Home Equity
Current LTV/CLTV(1)
December 31,
2009
December 31,
2008
December 31,
2009
December 31,
2008
<=70% $ 2,095.3 $ 3,004.9 $1,379.6 $ 1,981.9
70% – 80% 1,148.2 1,662.4 507.6 749.0
80% – 90% 1,464.2 1,999.8 705.6 1,000.7
90% – 100% 1,500.9 1,891.2 885.9 1,291.9
>100% 4,358.5 4,421.5 4,291.0 4,993.7
Total real estate loans $10,567.1 $12,979.8 $7,769.7 $10,017.2
Average estimated current LTV/CLTV(2) 97.3% 90.1% 106.0% 99.7%
Average LTV/CLTV at loan origination(3) 70.1% 68.8% 79.5% 79.1%
(1) Current CLTV calculations for home equity are based on drawn balances. 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
Current FICO(1)
December 31,
2009
December 31,
2008
December 31,
2009
December 31,
2008
>=720 $ 6,313.2 $ 8,458.0 $4,154.4 $ 5,539.9
719 – 700 870.1 1,072.9 782.6 1,029.0
699 – 680 698.0 871.2 622.9 866.6
679 – 660 492.8 645.7 472.6 647.7
659 – 620 647.9 717.2 584.8 770.1
<620 1,545.1 1,214.8 1,152.4 1,163.9
Total real estate loans $10,567.1 $12,979.8 $7,769.7 $10,017.2
(1) FICO scores are updated on a quarterly basis; however, as of December 31, 2009, there were some loans for which the updated FICO
scores were not available. 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.
In addition to the factors described above, we monitor credit trends in loans by acquisition channel, vintage
and geographic location, which are summarized below as of December 31, 2009 and 2008 (dollars in millions):
One- to
Four-Family Home Equity
Acquisition Channel
December 31,
2009
December 31,
2008
December 31,
2009
December 31,
2008
Purchased from a third party $ 8,660.2 $10,646.3 $6,803.9 $ 8,873.2
Originated by the Company 1,906.9 2,333.5 965.8 1,144.0
Total real estate loans $10,567.1 $12,979.8 $7,769.7 $10,017.2
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