Mortgage customers at California Federal Bank, Downey Financial Corp., and Great Western Financial Corp. can now earn frequent-flier miles for paying their loans on time.

The West Coast thrifts, along with Homeside Lending Inc. (formerly BancBoston Mortgage) and PHH Mortgage Services, which announced their participation this year, apparently will be the only members of an affinity program created by a unit of American Airlines.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.