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LendingTree Debuts New LoanExplorer-Powered Mobile App

LendingTree Debuts New LoanExplorer-Powered Mobile App
lendingtree_hi_res_FS2014

This post is part of our live coverage of FinovateSpring 2014.

Making their way to the Finovate stage now is the team from LendingTree. The company has facilitated more than 30 million loan request and $214 billion in closed-loan transactions.

“LendingTree’s new mobile app empowers consumers to find the best deal on a home loan. Through LendingTree’s Loan Explorer platform, which tracks real-time loan offers, the mobile app analyzes a user’s current loan offer and compares it to real-time offers being made by lenders on the LendingTree network based on available interest rates, fees, charges, and monthly payments.
The easy-to-use app allows users to submit data found in the Good Faith Estimate (GFE) of a consumer’s current loan offer. The tool then analyzes the interest rate, origination fees, and monthly payments to identify possible areas for improvement. Using interactive charts, consumers can see where and how their current offer might be improved and receive negotiating tips for getting a better deal. Additionally, the app displays several real-time offers from lenders that may be able to provide a better deal, compete with contact details and customer ratings and reviews.”
Presenting: Doug Lebda (CEO & Founder) and Nikul Patel (Chief Product Officer)

Product Launch: April 2014
Metrics: Employees: 204; Full Year 2013 Revenue: $136.24 million; unique visitors: approximately 3 million per month; NASDAQ: TREE; Market Cap: $376.4 million
Product distribution strategy: Direct to Consumer (B2C)
HQ: Charlotte, North Carolina
Founded: June 1996
Twitter: @LendingTree