LendingTree Reaches New Milestone: 20 Million Customer Loan Requests
CHARLOTTE, N.C., September 5, 2006 – LendingTree.com hit a new milestone on August 28, when its 20 millionth customer came through the “virtual doors” for help with finding a loan.
Said LendingTree CEO Tom Reddin, “This is a terrific accomplishment and evidence of the power of offering choice, convenience and competition to consumers during the loan process. With more than 20 million borrowers served, it’s clear that LendingTree.com has created something special, and we look forward to serving our next 20 million customers.”
The LendingTree.com Web site, which currently enjoys 84% national brand recognition, is an online marketplace that connects borrowers with multiple lenders that compete for their business. Borrowers fill out a simple form, whether online or via 800-555-TREE, and within minutes they can compare and evaluate loan offers. The marketplace serves borrowers seeking mortgage, refinance, home equity, auto, student, credit card and personal loans. Since its inception in 1998, it has facilitated more than $152 billion in closed loan transactions.
Added Bob Harris, LendingTree chief marketing officer, “As part of our ongoing mission to empower borrowers, we’re always looking for new and innovative ways to help consumers ‘win’ throughout the lending process. For instance, we’ve made a critical commitment to borrower education through a multi-year consumer advocacy program that will educate and inspire them to make smarter borrowing decisions.”
Through the Smart Borrower initiative, LendingTree.com offers an extensive library of articles, information, interactive tools, calculators and expert advice, all of which assist borrowers in making informed decisions about managing their debt. In addition, a free resource called The LendingTree Guide to Smart Borrowing: How to Use Credit Wisely Throughout Your Life — can be ordered in hardcopy or downloaded electronically at: www.lendingtree.com/livingwithdebt. The company also offers a monthly educational newsletter and a series of comprehensive loan product guides designed to help borrowers understand and compare loan products and offers.
About LendingTree, LLC
Founded in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC is part of IAC Financial Services and Real Estate, an operating business of IAC/InterActiveCorp (NASDAQ: IACI), which also owns or operates LendingTree Loans, LendingTree Settlement Services, LLC, GetSmart®, RealEstate.com®, Domania®, and iNest®.