LendingTree Settlement Services Gains Momentum by Streamlining Another Segment of the Loan Process

Released  April 18, 2005
By Megan Greuling

Jacksonville, FL, April 18, 2005 – LendingTree Settlement Services, LLC (LTSS), which was created in 2004 through a joint venture between LendingTree, LLC and GreenLink, LLC, has gained considerable momentum in the four months since fulfilling its first order. LTSS provides real estate-secured settlement services that enable lenders and REALTORS® to offer consumers competitive prices on title, appraisal, flood, and closing services. This simplifies the process of closing loans by streamlining settlement activities and reducing last-minute closing emergencies.

To date, more than 40 lenders have begun offering LTSS to their customers, having surpassed more than 15,000 individual orders. Initial adopters include goodmortgage.com, National Bank of Kansas City, United Mortgage Lending, First Discount Mortgage, Pinnacle Mortgage, Magellan Capital and Integrity Home Funding.


Said David Anderson, senior vice president and general manager of LendingTree Settlement Services, "Our goal is to close the loop between all the parties in a mortgage transaction-the borrower, the lender, the real estate professional and the third-party service providers. Simplifying and streamlining the settlement services process for consumers is just good business, and helps to avoid surprises at the closing table. We place a heavy emphasis on using technology smartly, on offering terrific customer service, and doing it all with competitive pricing."

For consumers, using LTSS allows them to benefit from competitive pricing, speedier service, upfront disclosure, and a quicker processing time. They even have the convenience of closing their mortgage loans in the comfort of their own homes, and enjoy the added incentive of a $50 gift card bonus to The Home Depot® (where permitted) when they close with LTSS.

Added Keith Luedeman, founder and CEO of goodmortgage.com, "Consumers traditionally think of settlement services as the 'beginning of the end' of their home-buying process, when in fact, their lenders have had the wheels in motion for weeks. Our relationship with LTSS has enabled us to provide consumers with streamlined and competitively priced mortgage and closing services. With the ability to target the consumers that we are able to most effectively service, we save a considerable amount of time and personnel resources on this part of the mortgage process. And that translates into an overall savings to our company and our consumers."

About LendingTree Settlement Services, LLC LendingTree Settlement Services, LLC is a provider of real estate-secured settlement services, including title, appraisal, flood, and closing services. Combining world-class customer service, process automation, and a nationwide vendor network with more than 20,000 service providers, LendingTree Settlement Services gives lenders and REALTORS® the confidence that the transaction will be performed in the consumer's best interests. Borrowers benefit from speedier service and a quicker processing time, and even have the convenience of closing their mortgage loans in the comfort of their own homes.

Established in 2004 and headquartered in Jacksonville, Florida, LendingTree Settlement Services is a joint venture between LendingTree®, LLC and GreenLink, LLC, an affiliate of Wachovia Corporation. LendingTree Settlement Services is part of IAC Financial Services and Real Estate, an operating business of IAC/InterActiveCorp (NASDAQ: IACI), which also owns LendingTree, LLC, LendingTree Loans, GetSmart Lending®, RealEstate.com, Domania, iNest, and ServiceMagic Real Estate.

REALTOR® — A registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.

The Home Depot® is not affiliated with LendingTree, Inc. The Home Depot® is a registered trademark of Homer TLC, Inc.