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Technology Stocks : E Loan Inc -EELN
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To: stockman_scott who wrote (515)8/4/1999 9:28:00 AM
From: Joe Donato  Read Replies (3) of 817
 
Yes, I completely understand their vision. I guess their potential is up for debate.

Here's the deal, ELOAN give you an opportunity to shop and apply for a loan on-line vs. over the phone or paper. BIG deal.

I'm sure they are growing - they'd better be growing giving the massive amount of money they spend on advertising.

With regards to the statistics that you have provided from H&Q, you should understand that there is very little significance to loan application numbers - it costs little or nothing to submit a loan app, and there is not commitments to close.

In addition, the analysis speaks to exactly what I predicted it would. See, you read this analysis and see that everything is good. I read it and I see that when interest rates moved up 70 b.p., they lost most of their refi business, thus showing that their purchase business is "a bigger part" of their portfolio. Purchase money is only bigger, because they are losing their refis!
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