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.”