Discovery
04-06-2009, 08:13 PM
So I always thought LendingTree had a great slogan and model.
Consumers fill out one app for a loan and they get multiple offers from lenders competing with the best rates and terms.
Their T.V. commercials are very clever as well, like the "kid goes to college (http://www.youtube.com/watch?v=D8T5CS42MMY)" one.
So their big proposition is that they have a bunch of banks compete for your business. They are the trusted place to give your loan app and then arbitrarily companies compete.
I just read their website disclosure (http://www.lendingtree.com/legal/license-disclosures/). and Check this out. Seems that Lending Tree is also the lender competing, and in some cases THEY ARE THE ONLY LENDER.
About LendingTree Loans
Your loan request may be matched with Home Loan Center, Inc., which also does business under the names LendingTree Loans, Home Loan Center, Inc. dba LT Loans, Home Loan Center USA, Inc. and Loan Center, Inc., LT Loans or Online Home Center (depending on the state), a wholly owned subsidiary of LendingTree, LLC. Home Loan Center/LendingTree Loans is a licensed mortgage lender/broker authorized to do business in every state. Home Loan Center/LendingTree Loans specializes in certain types of consumer loan requests. Home Loan Center/LendingTree Loans makes loans and earns fees for its services separate from LendingTree, LLC. You may be matched with Home Loan Center as one of your competing lenders or LendingTree Loans as your only lender.
After this whole mortgage fiasco, LendingTree still has the Crabapples to pull this kind of charade on the consumer.
Sometimes I'm embarrassed to be called a marketer.
Consumers fill out one app for a loan and they get multiple offers from lenders competing with the best rates and terms.
Their T.V. commercials are very clever as well, like the "kid goes to college (http://www.youtube.com/watch?v=D8T5CS42MMY)" one.
So their big proposition is that they have a bunch of banks compete for your business. They are the trusted place to give your loan app and then arbitrarily companies compete.
I just read their website disclosure (http://www.lendingtree.com/legal/license-disclosures/). and Check this out. Seems that Lending Tree is also the lender competing, and in some cases THEY ARE THE ONLY LENDER.
About LendingTree Loans
Your loan request may be matched with Home Loan Center, Inc., which also does business under the names LendingTree Loans, Home Loan Center, Inc. dba LT Loans, Home Loan Center USA, Inc. and Loan Center, Inc., LT Loans or Online Home Center (depending on the state), a wholly owned subsidiary of LendingTree, LLC. Home Loan Center/LendingTree Loans is a licensed mortgage lender/broker authorized to do business in every state. Home Loan Center/LendingTree Loans specializes in certain types of consumer loan requests. Home Loan Center/LendingTree Loans makes loans and earns fees for its services separate from LendingTree, LLC. You may be matched with Home Loan Center as one of your competing lenders or LendingTree Loans as your only lender.
After this whole mortgage fiasco, LendingTree still has the Crabapples to pull this kind of charade on the consumer.
Sometimes I'm embarrassed to be called a marketer.