LendingTree

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LendingTree, LLC

Type	LLC
Founded	Charlotte, North Carolina (1996)
Headquarters	Charlotte, North Carolina, USA
Key people	Doug Lebda, CEO/Founder
Employees	2,491 (2005)
Website	www.lendingtree.com

LendingTree, LLC is an online lending exchange, providing a marketplace that connects consumers with lenders that compete for their business. LendingTree is a web-based company (LendingTree.com), operating a lead-generation business. A "lead" is a collection of information about a consumer interested in getting a loan. Lenders pay for these leads, and LendingTree is a source for them. The prospective borrower fills out a questionnaire on LendingTree.com detailing the loan request, property, personal finances, and contact information. They use this information to select the lenders to whom the information is sold. Lenders prepare an offer to the borrower based on the same information.

LendingTree customers are the lenders and mortgage brokers who can afford to buy these leads. They pay LendingTree for mortgage-loan leads to get this information on potential customers. These leads are sold to the highest bidder depending how good the information and credit standing is for each lead.

LendingTree has facilitated more than 20 million loan requests and $152 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, online high yield savings accounts, and credit cards.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree is part of IAC Financial Services and Real Estate, an operating company of IAC (NASDAQ: IACI), which also owns or operates LendingTree Loans, LendingTree Settlement Services, GetSmart, RealEstate.com, Domania, and iNest Realty.