To the Management and Board of Directors of E-LOAN:

We have examined management's assertion, that E-LOAN, during the period November 1, 2000 through April 30,2001:

• Disclosed its key privacy practices for electronic commerce,
• Complied with such privacy practices, and
• Maintained effective controls to provide reasonable assurance that personally identifiable information obtained as a result of electronic commerce was protected in conformity with its disclosed privacy practices

based on American Institute of Certified Public Accountants (AICPA)/Canadian Institute of Chartered Accountants (CICA) WebTrust Privacy Criteria (http://www.cpawebtrust.org/privacy_fin.htm). These practices, disclosures, compliance and controls are the responsibility of E-LOAN's management. Our responsibility is to express an opinion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included (1) obtaining an understanding of E-LOAN's disclosed privacy practices for e-commerce transactions and the related controls over privacy, (2) testing compliance with its disclosed privacy practices, (3) testing and evaluating the operating effectiveness of the controls, and (4) performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion.

In our opinion, E-LOAN's management assertion referred to above is fairly stated, in all material respects, based upon the AICPA/CICA WebTrust Privacy Criteria.

Because of inherent limitations in controls, error or fraud may occur and not be detected. Furthermore, the projection of any conclusions, based on our findings, to future periods is subject to the risk that (1) changes made to the system or controls, (2) changes in processing requirements, (3) changes required because of the passage of time, or (4) the degree of compliance with the policies or procedures may alter the validity of such conclusions.

The WebTrust Seal of Assurance on E-LOAN's website, www.eloan.com, constitutes a symbolic representation of the contents of this report and is not intended, nor should it be construed, to update this report or provide any additional assurance.

PricewaterhouseCoopers LLP

May 21, 2001
San Francisco, California

During the period November 1, 2000 through April 30,2001, E-LOAN has:

• Disclosed its key privacy practices for electronic commerce,
• Complied with such privacy practices, and
• Maintained effective controls to provide reasonable assurance that personally identifiable information obtained as a result of electronic commerce was protected in conformity with its disclosed privacy practices.