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Mortgages Weigh On E*Trade Sale

Mortgages Weigh On E*Trade Sale
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As E*Trade Financial Corp. moves closer to being sold, prospective suitors for the company are haggling over the value of its deteriorating mortgage portfolio, people familiar with the discussions say.

E*Trade, while best known for its discount brokerage operations, has made a big move into home mortgages, lines of credit and mortgages securities in recent years. As the housing market has declined, the value of mortgage securities has plummeted, forcing E*Trade to seek a buyer or an infusion of capital.

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