How they describe themselves: LendingTree is the nation’s leading online source for competitive home loan offers empowering consumers during the mortgage, refinance, and auto loan processes. LendingTree provides an online marketplace, which connects consumers to multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan. Since inception, LendingTree has facilitated more than 30 million loan requests and $214 billion in closed-loan transactions. LendingTree provides access to lenders offering mortgages and refinance loans, home equity loans and lines of credit, credit cards, personal loans and more.
How they describe their product/innovation: LendingTree’s new mobile app empowers consumers to find the best deal on a home loan. Through LendingTree’s LoanExplorer 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, complete with contact details and customer ratings and reviews.
Product Distribution Strategy: Direct to Consumer (B2C)
Bus. Dev.: Bruce Cook, SVP Bus. Dev., email@example.com
Press: Megan Greuling, Sr. Communications Manager, firstname.lastname@example.org
Sales: Sam Mischner, SVP Sales & Lender Operations, email@example.com