Thursday, August 27, 2009

LendingTree Suit Claims Google Is Getting Into Mortgages - Digits - WSJ

Interesting times…

A suit filed on Tuesday by online mortgage company LendingTree relies on a provocative premise: Google is getting into the loan aggregation business.

The suit, filed in a Charlotte federal court, is against a company called Mortech, which provides a technology that LendingTree uses to automate lender offer pricing. LendingTree says it has an exclusive contract with Mortech, but it recently discovered that the company was also working with Google — which LendingTree claims plans to launch a loan aggregation service in late August or early September.

Google declined to comment on the suit. As for its plans in the mortgage business, a spokesman said, “we are currently working on a small ad unit test that will run against a limited number of mortgage-related search queries in the U.S.”

LendingTree Suit Claims Google Is Getting Into Mortgages - Digits - WSJ

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