LendingTree settles with vendor

LendingTree has reached a settlement with a vendor it alleged was working with Google to provide online offers from mortgage lenders, dropping a lawsuit that sought a temporary restraining order and preliminary injunction to halt the venture.

The settlement is confidential, and neither LendingTree nor the vendor it sued, Mortech Inc., is saying much about it.

LendingTree issued a press release saying the dispute had been resolved "to the mutual satisfaction of both parties" and the lawsuit dismissed. The company declined further comment.

A spokeswoman for Mortech said the company remains "committed to our customers, including those on the LendingTree network, and will continue to provide the absolute best service in the mortgage pricing engine, product eligibility and lead management space."

Attorneys for LendingTree filed notice that the company was dismissing its case "with prejudice" -- meaning it can raise the same issues again -- and that the U.S. District Court for the Western District of North Carolina "shall retain jurisdiction to enforce the confidential settlement agreement and release between the parties."

The case drew considerable attention because of LendingTree's claim that Google has already begun beta testing a loan aggregation service that, like LendingTree's, relies on Mortech's pricing engine (see story). ...CONTINUED

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