Online mortgage broker E*TRADE Financial said on Wednesday it made "significant progress" on reducing risks related to its balance sheet, maintaining strong capital ratios and strengthening its leadership team.
E*TRADE confirmed it expects 2007 year-end tier I and risk-based bank capital to be equal of better than 5.9 percent and 11.1 percent respectively, as reported in November.
It said it completed the sale of an additional $3 billion worth of available-for-sale securities, including a combination of mortgage-backed securities and municipal bonds, at a loss of less than $5 million.
In November, E*TRADE sold $3 billion worth of asset-backed securities. Its shares were 0.2 percent up in pre-market trade.