Mortgage news

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Thursday, October 18, 2007

E*Trade Financial Corp. reports its first quartrly loss




October 18 2007 Bloomberg.com
The online brokerage reported its first quarterly loss in five years and slashed its forecasts for 2007 earnings after surging U.S. mortgage defaults led to higher costs for bad debt at its online bank. E*Trade shares declined 23 cents, or 1.8 percent, to $12.47 yesterday.

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