E-Trade Group Inc., an on-line investing service, is adding mortgages to its financial services offerings.
The company has inked an exclusive three-year pact allowing E-Loan Inc. to pitch home loans to E-Trade customers. E-Loan, also of Palo Alto, is a privately held company that offers mortgages from multiple lenders via the Internet.
E-Trade hopes to develop an on-line site where customers could conduct their personal financial business. Customers would be able to link to an E- Trade/E-Loan Web site where they could look at information on mortgages, shop for prices, and apply for loans.
Customers would also be able to answer questionnaires, receive quotes, compare a current mortgage to the market rate, pre-qualify for a mortgage, and compare loan rates nationally and locally.