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Press release from Business Wire

Discover Launches Home Loans Business

<p class='bwalignc'> <i><b>Getting a Loan or Refinancing a Mortgage through Discover Will Mean Personalized Customer Attention, Competitive Rates and Fees, Helpful Online Resources</b></i> </p>

Tuesday, June 12, 2012

Discover Launches Home Loans Business07:15 EDT Tuesday, June 12, 2012 RIVERWOODS, Ill. (Business Wire) -- Discover begins originating mortgages today with its launch of Discover Home Loans, a new source for consumers seeking prime variable- and fixed-rate conventional and FHA loans from a trusted name in the financial services industry. The launch marks Discover's entry into the mortgage origination business with a product to complement the company's line of savings, lending and other direct-banking products. At a time when consumers need a trusted, responsible financial partner, Discover brings more than two decades of customer service expertise to the process of getting a home loan. “We are committed to setting a new standard of excellence in the market for home loans – just as we have done in credit cards, deposit products, private student loans and personal loans,” said Carlos Minetti, president of consumer banking and operations for Discover. “Home loans are a product our customers have been asking for, and our approach offers the simplicity, transparency and personalized service for which Discover is known.” Discover Home Loans offers: A streamlined application process Dedicated, licensed mortgage officers who stay with a customer from start to finish 24/7 website access to securely upload documents and check the status of a loan Our website – http://www.discoverhomeloans.com – with online guidebooks, calculators and helpful resources for refinancers as well as first-time home buyers A Welcome Back Bonus credit of up to $2,000 toward closing costs for return customers who choose Discover for future home-buying and refinancing needs A close-on-time commitment that we'll be ready to close a loan as scheduled or we'll give a credit of up to a $1,000 toward closing costs In addition to credit cards, Discover also offers direct banking products such as savings accounts, certificates of deposit, IRA CDs, money market accounts and personal loans. On top of that, Discover Bank is one of the largest originators of private student loans in the United States. For more information on refinancing your current mortgage or getting a new loan, visit www.DiscoverHomeLoans.com or call 1-888-866-1212. All mortgage loans will be offered by Discover Home Loans, Inc., an Equal Housing Lender, NMLS ID # 837915. For a complete list of Discover Home Loans' state lending licenses, see https://www.discover.com/home-loans/statelicenses/. About Discover Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers home loans, private student loans, personal loans, online savings accounts, certificates of deposit and money market accounts through its direct banking business. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discoverfinancial.com. DiscoverJon Drummond, 224-405-1888jondrummond@discover.com