E-LOAN, Inc., Once Again Gives Consumers Credit Scores for Free

Consumers Can Use the Free Service to Help Them Optimize Their Credit Score

To Ultimately Lower Their Overall Cost of Borrowing and Take More Control Over

Their Debt



Apr 23, 2001, 01:00 ET from E-LOAN, Inc.

    DUBLIN, Calif., April 23 /PRNewswire Interactive News Release/ --
 E-LOAN, Inc. (Nasdaq:   EELN), (www.eloan.com), a leading online lending
 company, today launched a free service to provide consumers with a credit
 score and a credit score analysis that helps them identify and understand
 actions they can take to improve their score.  Consumers receive personalized
 guidance to help them interpret their score, including the factors that are
 most significantly impacting their score.  Armed with this knowledge,
 consumers can improve their score and ultimately lower their overall cost of
 borrowing and better manage their debt.  In addition to this free service,
 when the consumer applies for a loan they receive a more detailed report that
 recommends very specific actions they can take and the potential score
 increase associated with taking those actions. E-LOAN has partnered with
 CreditXpert, Inc., the leading provider of personalized consumer credit
 management tools and content, to make these credit scores and analyses
 available.
     "Credit scores are one of the most significant factors used by lenders to
 determine whether an applicant gets a loan and the interest rate they pay on a
 loan," said Chris Larsen, E-LOAN's Chairman and CEO.  "It's absolutely
 necessary for people to know their score, what it means, what factors
 influence it, and how they can improve it.  By providing people with access to
 the tools and advice they need to take control over their credit, we improve
 their ability to get lower loan rates and better loan terms."
     As a staunch advocate of full disclosure, including consumer access to
 credit scores, E-LOAN started providing FICOSM credit scores in February 2000
 free of charge to consumers via its website.  It was the first time consumers
 ever had ready access to these scores. More than 25,000 borrowers logged onto
 the site to access their scores before credit reporting agencies -- under
 intense pressure from the creator of the scores -- forced an end to the
 practice.
     Because credit scores have become so profoundly important in determining a
 consumer's participation in the credit markets, E-LOAN has actively lobbied
 and testified at the national and state level in favor of guaranteeing
 consumers' right to access credit scores used for lending, employment and
 insurance decisions.  While E-LOAN's efforts helped pass the Figueroa bill in
 California, the company continues to lobby for legislation at the national
 level.
     "Since last year there has been some good progress in opening the black
 box surrounding credit scores, but unless they live in California, consumers
 still won't have a guaranteed right to know their score even if they were
 turned down for a loan or job because of it," said Larsen.  "One reason often
 cited by the credit industry in refusing full disclosure of credit scores and
 the factors that comprise them is that once consumers know and better
 understand what impacts their score, consumers will 'game' the system by
 engaging in activities that result in better scores.  E-LOAN believes this is
 precisely why all credit scores and all the factors that go into them need to
 be readily disclosed:  so consumers can improve their financial health through
 knowledge and action.  We believe it's a matter of responsible borrowing and
 effective consumer debt management, not credit score gaming."
     By logging onto www.eloan.com, clicking on the "Free Credit Scores" link
 and answering a brief series of questions, consumers can access their credit
 score and credit score analysis online.  The confidentiality and security of
 all personal information is protected through advanced encryption technology,
 password protection, and E-LOAN's stringent privacy policy and practices,
 which are independently audited by PriceWaterhouse Coopers.  E-LOAN does not
 sell consumer data to any third parties and will not share consumer data with
 any third parties without their consent except for the express purpose of
 completing a loan transaction or obtaining credit score information.
 
     About E-LOAN, Inc.
     E-LOAN, Inc., a leading online lending company, offers consumer loans and
 debt management services online at www.eloan.com.  E-LOAN has reinvented the
 consumer loan process by offering a broad choice of products from many lenders
 for mortgages, home equity loans, auto loans, credit cards and small business
 loans in a secure online environment, combined with comprehensive personal
 service from dedicated loan consultants.  Through the fourth quarter of 2000,
 E-LOAN originated over $3.7 billion in consumer loans.  The company's loan
 processing centers are located in Dublin, CA and Jacksonville, FL. E-LOAN,
 Inc. is publicly traded on the Nasdaq system under the symbol EELN.
 
     About CreditXpert Inc.
     CreditXpert Inc. is the first provider of personalized credit analyses and
 credit scores that help consumers educate themselves about their
 creditworthiness and understand the credit decision process.  CreditXpert(TM)
 offers e-finance sites and lenders powerful new ways to attract, engage, and
 retain customers by creating a more interactive lending experience.  By
 powering their products and services with CreditXpert(TM), e-finance sites and
 lenders offer unique, personalized content and tools for consumer credit
 management, including the CreditXpert Credit Score(TM) and the CreditXpert
 Credit Analysis(TM), which are customized to meet the unique needs of
 CreditXpert Inc.'s B2B partners.  For more information, visit
 www.creditxpert.com.
     This news release contains forward-looking statements based on current
 expectations that involve risks and uncertainties. E-LOAN actual results may
 differ from the results described in the forward-looking statements.  Factors
 that could cause actual results to differ include, but are not limited to,
 general conditions in the mortgage and auto industries, interest rate
 fluctuations, and the impact of competitive products.  These and other risk
 factors are detailed in E-LOAN's periodic filings with the Securities and
 Exchange Commission.
 
     CONTACT:  Laurie Logan of Cosmo Public Relations, Inc., 415-652-3385, or
 laurie@cosmo-pr.com, for E-LOAN, Inc.; or Tiffany Kelley, Public Relations
 Manager of E-LOAN, Inc., 925-560-2614, or tiffanyk@eloan.com; or Jen Kellar,
 Account Executive of Weber Shandwick Worldwide, 410-558-2100, or
 jkellar@webershandwick.com, for CreditXpert Inc.; or William C. Warren, Jr.,
 Communications Manager of CreditXpert Inc., 410-239-9000, ext. 250, or
 wwarren@creditxpert.com.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X10714478
 
 

SOURCE E-LOAN, Inc.
    DUBLIN, Calif., April 23 /PRNewswire Interactive News Release/ --
 E-LOAN, Inc. (Nasdaq:   EELN), (www.eloan.com), a leading online lending
 company, today launched a free service to provide consumers with a credit
 score and a credit score analysis that helps them identify and understand
 actions they can take to improve their score.  Consumers receive personalized
 guidance to help them interpret their score, including the factors that are
 most significantly impacting their score.  Armed with this knowledge,
 consumers can improve their score and ultimately lower their overall cost of
 borrowing and better manage their debt.  In addition to this free service,
 when the consumer applies for a loan they receive a more detailed report that
 recommends very specific actions they can take and the potential score
 increase associated with taking those actions. E-LOAN has partnered with
 CreditXpert, Inc., the leading provider of personalized consumer credit
 management tools and content, to make these credit scores and analyses
 available.
     "Credit scores are one of the most significant factors used by lenders to
 determine whether an applicant gets a loan and the interest rate they pay on a
 loan," said Chris Larsen, E-LOAN's Chairman and CEO.  "It's absolutely
 necessary for people to know their score, what it means, what factors
 influence it, and how they can improve it.  By providing people with access to
 the tools and advice they need to take control over their credit, we improve
 their ability to get lower loan rates and better loan terms."
     As a staunch advocate of full disclosure, including consumer access to
 credit scores, E-LOAN started providing FICOSM credit scores in February 2000
 free of charge to consumers via its website.  It was the first time consumers
 ever had ready access to these scores. More than 25,000 borrowers logged onto
 the site to access their scores before credit reporting agencies -- under
 intense pressure from the creator of the scores -- forced an end to the
 practice.
     Because credit scores have become so profoundly important in determining a
 consumer's participation in the credit markets, E-LOAN has actively lobbied
 and testified at the national and state level in favor of guaranteeing
 consumers' right to access credit scores used for lending, employment and
 insurance decisions.  While E-LOAN's efforts helped pass the Figueroa bill in
 California, the company continues to lobby for legislation at the national
 level.
     "Since last year there has been some good progress in opening the black
 box surrounding credit scores, but unless they live in California, consumers
 still won't have a guaranteed right to know their score even if they were
 turned down for a loan or job because of it," said Larsen.  "One reason often
 cited by the credit industry in refusing full disclosure of credit scores and
 the factors that comprise them is that once consumers know and better
 understand what impacts their score, consumers will 'game' the system by
 engaging in activities that result in better scores.  E-LOAN believes this is
 precisely why all credit scores and all the factors that go into them need to
 be readily disclosed:  so consumers can improve their financial health through
 knowledge and action.  We believe it's a matter of responsible borrowing and
 effective consumer debt management, not credit score gaming."
     By logging onto www.eloan.com, clicking on the "Free Credit Scores" link
 and answering a brief series of questions, consumers can access their credit
 score and credit score analysis online.  The confidentiality and security of
 all personal information is protected through advanced encryption technology,
 password protection, and E-LOAN's stringent privacy policy and practices,
 which are independently audited by PriceWaterhouse Coopers.  E-LOAN does not
 sell consumer data to any third parties and will not share consumer data with
 any third parties without their consent except for the express purpose of
 completing a loan transaction or obtaining credit score information.
 
     About E-LOAN, Inc.
     E-LOAN, Inc., a leading online lending company, offers consumer loans and
 debt management services online at www.eloan.com.  E-LOAN has reinvented the
 consumer loan process by offering a broad choice of products from many lenders
 for mortgages, home equity loans, auto loans, credit cards and small business
 loans in a secure online environment, combined with comprehensive personal
 service from dedicated loan consultants.  Through the fourth quarter of 2000,
 E-LOAN originated over $3.7 billion in consumer loans.  The company's loan
 processing centers are located in Dublin, CA and Jacksonville, FL. E-LOAN,
 Inc. is publicly traded on the Nasdaq system under the symbol EELN.
 
     About CreditXpert Inc.
     CreditXpert Inc. is the first provider of personalized credit analyses and
 credit scores that help consumers educate themselves about their
 creditworthiness and understand the credit decision process.  CreditXpert(TM)
 offers e-finance sites and lenders powerful new ways to attract, engage, and
 retain customers by creating a more interactive lending experience.  By
 powering their products and services with CreditXpert(TM), e-finance sites and
 lenders offer unique, personalized content and tools for consumer credit
 management, including the CreditXpert Credit Score(TM) and the CreditXpert
 Credit Analysis(TM), which are customized to meet the unique needs of
 CreditXpert Inc.'s B2B partners.  For more information, visit
 www.creditxpert.com.
     This news release contains forward-looking statements based on current
 expectations that involve risks and uncertainties. E-LOAN actual results may
 differ from the results described in the forward-looking statements.  Factors
 that could cause actual results to differ include, but are not limited to,
 general conditions in the mortgage and auto industries, interest rate
 fluctuations, and the impact of competitive products.  These and other risk
 factors are detailed in E-LOAN's periodic filings with the Securities and
 Exchange Commission.
 
     CONTACT:  Laurie Logan of Cosmo Public Relations, Inc., 415-652-3385, or
 laurie@cosmo-pr.com, for E-LOAN, Inc.; or Tiffany Kelley, Public Relations
 Manager of E-LOAN, Inc., 925-560-2614, or tiffanyk@eloan.com; or Jen Kellar,
 Account Executive of Weber Shandwick Worldwide, 410-558-2100, or
 jkellar@webershandwick.com, for CreditXpert Inc.; or William C. Warren, Jr.,
 Communications Manager of CreditXpert Inc., 410-239-9000, ext. 250, or
 wwarren@creditxpert.com.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X10714478
 
 SOURCE  E-LOAN, Inc.