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LendingTree Goes Brick and Mortar

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LendingTree Goes Brick and Mortar

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LendingTree Goes Brick and Mortar

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November 16 2010 (Shirley Allen)

LendingTree LLC has agreed to buy a traditional mortgage originator with branches in Louisville, Nashville, Tampa, and Indianapolis. The $6 million deal for SurePoint Lending will be the first time since LendingTree was created that it has traditional brick and mortar branches.

LendingTree, whose core business is generating leads for sale to lenders, has had a direct lending operation since 2004, when it bought HomeLoanCenter.com, in Irvine, Calif., and renamed it LendingTree Loans. But it has always operated exclusively online.

SurePoint currently has nearly 500 employees, including more than 300 loan officers. The outfit has purchased leads from LendingTree for 11 years and has originated more than $10 billion of loans since it was founded in 1995. LendingTree currently has over 700 employees.

“This acquisition is a key component of our aggressive growth strategy for LendingTree Loans, which also includes expanding our team of loan officers headquartered in Irvine, Calif., increasing our marketing spend, and continuing to invest in process and technology to meet both regulatory requirements and our customers’ needs,” Doug Lebda, the chairman and chief executive of Tree.com Inc., LendingTree’s parent company in Charlotte, said in a press release issued Tuesday.

LendingTree Loans paid $6 million in cash for SurePoint, but the purchase may cost up to $17 million more depending on earnings over the next three years. The deal is expected to close in the first quarter of 2011.

FILL OUT THE FORM

It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.

WE VERIFY & TRANSMIT TO LENDERS

Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.

REVIEW YOUR OFFERS

With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.

CHOOSE YOUR LENDER

Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.

HOW
MORTGAGELOANRATEUPDATE
WORKS

Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.

ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE

FAST & EASY. DATA ENCRYPTED

Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.

NO OBLIGATION. NO HIDDEN FEES

Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.

NO SSN OR CREDIT CHECK

No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

Home Buying
Tips

Home Selling
Tips

About
Mortgages

Mortgage
Calculator

Mortgage
Rates

November 16 2010 (Shirley Allen)

LendingTree LLC has agreed to buy a traditional mortgage originator with branches in Louisville, Nashville, Tampa, and Indianapolis. The $6 million deal for SurePoint Lending will be the first time since LendingTree was created that it has traditional brick and mortar branches.

LendingTree, whose core business is generating leads for sale to lenders, has had a direct lending operation since 2004, when it bought HomeLoanCenter.com, in Irvine, Calif., and renamed it LendingTree Loans. But it has always operated exclusively online.

SurePoint currently has nearly 500 employees, including more than 300 loan officers. The outfit has purchased leads from LendingTree for 11 years and has originated more than $10 billion of loans since it was founded in 1995. LendingTree currently has over 700 employees.

“This acquisition is a key component of our aggressive growth strategy for LendingTree Loans, which also includes expanding our team of loan officers headquartered in Irvine, Calif., increasing our marketing spend, and continuing to invest in process and technology to meet both regulatory requirements and our customers’ needs,” Doug Lebda, the chairman and chief executive of Tree.com Inc., LendingTree’s parent company in Charlotte, said in a press release issued Tuesday.

LendingTree Loans paid $6 million in cash for SurePoint, but the purchase may cost up to $17 million more depending on earnings over the next three years. The deal is expected to close in the first quarter of 2011.

FILL OUT THE FORM

It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.

WE VERIFY & TRANSMIT TO LENDERS

Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.

REVIEW YOUR OFFERS

With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.

CHOOSE YOUR LENDER

Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.

HOW
MORTGAGELOANRATEUPDATE
WORKS

Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.

ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE

FAST & EASY. DATA ENCRYPTED

Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.

NO OBLIGATION. NO HIDDEN FEES

Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.

NO SSN OR CREDIT CHECK

No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

November 16 2010 (Shirley Allen)

LendingTree LLC has agreed to buy a traditional mortgage originator with branches in Louisville, Nashville, Tampa, and Indianapolis. The $6 million deal for SurePoint Lending will be the first time since LendingTree was created that it has traditional brick and mortar branches.

LendingTree, whose core business is generating leads for sale to lenders, has had a direct lending operation since 2004, when it bought HomeLoanCenter.com, in Irvine, Calif., and renamed it LendingTree Loans. But it has always operated exclusively online.

SurePoint currently has nearly 500 employees, including more than 300 loan officers. The outfit has purchased leads from LendingTree for 11 years and has originated more than $10 billion of loans since it was founded in 1995. LendingTree currently has over 700 employees.

“This acquisition is a key component of our aggressive growth strategy for LendingTree Loans, which also includes expanding our team of loan officers headquartered in Irvine, Calif., increasing our marketing spend, and continuing to invest in process and technology to meet both regulatory requirements and our customers’ needs,” Doug Lebda, the chairman and chief executive of Tree.com Inc., LendingTree’s parent company in Charlotte, said in a press release issued Tuesday.

LendingTree Loans paid $6 million in cash for SurePoint, but the purchase may cost up to $17 million more depending on earnings over the next three years. The deal is expected to close in the first quarter of 2011.

Home Buying Tips

Home Selling Tips

About
Mortgages

HOW
MORTGAGELOANRATEUPDATE
WORKS

FILL OUT THE FORM

It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.

WE VERIFY & TRANSMIT TO LENDERS

Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.

REVIEW YOUR OFFERS

With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.

CHOOSE YOUR LENDER

Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.

ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE

FAST & EASY. DATA ENCRYPTED

Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.

NO OBLIGATION. NO HIDDEN FEES

Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.

NO SSN OR CREDIT
CHECK

No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.