Industry News

LendingTree buys mortgage lender

Enters purchase agreement with Web-based

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Online lending and real estate exchange LendingTree has agreed to acquire, an Internet-based direct mortgage lender. Terms of the deal were not disclosed. Irvine, Calif.-based is a branchless retail consumer-direct lender. The company has built on online loan origination platform that gives consumers access to a variety of loan products. LendingTree's online lending exchange includes more than 200 lenders, while its real estate services arm includes more than 700 real estate brokers and 10,000 real estate agents. The company draws traffic to through aggressive Web and television advertising, marked by the "When banks compete, you win" slogan. Despite the purchase of a direct lender, the company will continue to offer consumers multiple competing offers, according to LendingTree founder and CEO Doug Lebda. " has built an impressive online loan origination platform, and we believe its innovative and successfu...