Friday, 23 March 2018

About Lending Tree

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In 1996, a young accountant named Doug Lebda wanted to buy his first home. It turned out that finding the perfect townhouse was easy, but finding the perfect mortgage to pay for it wasn’t. Bank-by-bank, offer-by-offer, it was time-consuming, complicated and tedious – even for a financially savvy accountant. Doug thought consumers could be better served, and he asked himself, “Why not create a way for banks to compete for their customers’ business instead of customers having to do all the legwork to find the best deals?” And thus, a great Internet idea was born. Doug founded LendingTree in 1996, and launched it nationally in 1998, which has put the power back into the hands of the consumers by giving them a centralized location to receive multiple loan offers by filling out one simple form. Doug doesn’t own that townhouse anymore, but today Doug has created a team whose core mission is to empower consumers so they don’t have to go through the hassle and uncertainty he went through years ago. The creation of LendingTree was a win-win solution for borrowers and lenders. “When we launched the site in 1998, we were able to empower consumers with choice, convenience and value,” Doug says. “And lenders could target consumers whose needs they were best prepared to meet.” In 2003, LendingTree, LLC caught the eye of media mogul Barry Diller and was acquired by his company IAC/InterActiveCorp that May. As a result, LendingTree, LLC joined a number of great businesses also recognized as leaders in their own industries including Ticketmaster, Ask.com, Home Shopping Network (HSN), and Match.com. After a few years, LendingTree spun-off from IAC in 2008 to join newly established Tree.com, Inc. which included a portfolio of various financial matchmaking services the company could offer consumers (NASDAQ: TREE). In 2014, Tree.com rebranded itself back under its LendingTree flagship name with its multi-product loan matching services under the LendingTree brand and its additional search services as: LendingTree Autos LendingTree HomePros LendingTree Education Today, many of the nation’s largest lending institutions, including a wealth of regional and local lenders, and alternative lenders, have joined the LendingTree marketplace. This diverse network allows LendingTree to offer a way for consumers to shop for a variety of financing products, including purchase mortgages, refinance loans, home equity loans and lines of credit, auto loans, personal loans, business loans, credit cards, as well student loans and commercial lending products. What is LendingTree? LendingTree is a leading online loan marketplace with one of the largest networks of lenders in the nation. Our service provides consumers a way to connect with multiple lenders for a number of financial borrowing needs. From the comfort of their homes, consumers can fill out one simple form and are able to shop, compare, and save on the loans they need. By creating a My LendingTree account, consumers are able to track their credit score – updated monthly with insights into which factors are negatively impacting their score, review all loan and credit card accounts and are even notified when LendingTree identifies a savings opportunity based on real-time loan offer data. And the best part? It’s free. LendingTree also offers a variety of informational resources and tools for borrowers to help manage their finances and have an informed experience. With our financial calculators, interactive loan coaching tools, monthly newsletters, and lender ratings and reviews, we’re able to empower customers to make the best financial decisions. How do I use LendingTree? Fill out one simple online form Customers interested in a loan complete a simple application online. Feel free to call us along the way at 1-800-813-4620 if you have any questions. Receive multiple offers We connect you with multiple lenders who provide several, customized loan offers based on your credit profile. Qualified applicants can receive up to five offers in just minutes. Customers can use LendingTree and evaluate loan options with no impact to their credit score. Pick the best deal for you You just pick the loan offer you like best and work with a real, live person to help finalize the details. How does LendingTree make money? Lenders pay us for the chance to compete for your business. We pass your profile to up to five lenders who then provide you a customized loan offer based on your request. LendingTree is completely free to use, but of course if you decide to take out a loan you will be responsible for any processing fees, closing costs, or other fees as normally required by the lender.
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