More details on what appears to be Google’s latest co-opetition dilemma
Google plans to begin offering loan quotes online as early as this month, a lawsuit filed in federal court this week claims. The suit was filed by LendingTree, which offers consumers mortgage quotes and conditional loan offers online, against Mortech, a company that provides some of the technology that powers the LendingTree service. Google is not a party to the case.
But according to the complaint, filed in United States District Court for the Western District of North Carolina, Mortech plans to make its technology available to Google, which, in turn, plans to release a service that competes with LendingTree. The complaint alleges that would be a violation of a contract between LendingTree and Mortech.