Thursday, August 27, 2009

Is Google Entering the Mortgage Quote Business? - Bits Blog -

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.

Is Google Entering the Mortgage Quote Business? - Bits Blog -

1 comment:

aryan said...

We have entered an Information Century and Google is someway ahead of the Information Curve with regard to all of us. They have access to data about us that the Mortgage Providers can only dream of and that makes the job of providing mortgage quotes not only a great deal easier but allows them to make better risk adjusted trades, I would have thought.Fixed Mortgage