Industry NewsMortgage

Google eyes mortgage lending service

LendingTree sues vendor Mortech

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Google is planning to launch a service in late August or early September that would provide Web surfers with loan offers from mortgage lenders, according to a lawsuit by LendingTree that seeks to stop the project in its tracks.LendingTree filed suit Tuesday against Mortech Inc. -- the company that provides the "pricing engine" lenders use to generate loan offers through LendingTree -- saying the company is barred from providing the same services for other companies.In its complaint, LendingTree claims that Mortech agreed to make its pricing engine available for use for Google's loan aggregation service. Lending Tree said it had obtained screenshots of a trial version of the new service.Attorneys for Mortech have not yet responded to the lawsuit, filed in the U.S. District Court for the Western District of North Carolina.In a statement, Mortech did not deny working with Google, but said the company "has a proven track record of treating all industry partners and custome...