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LendingTree Launches New Loan Marketplace
Mar 15, 2011 (05:03 PM EDT)
LoanExplorer delivers interactive loan shopping experience; offers lenders advanced targeting capabilities.
CHARLOTTE, N.C., March 15, 2011 /PRNewswire/ -- LendingTree, LLC, the nation's number one online lending exchange, announced today at the LendingTree Partner Summit the introduction of an advanced second generation loan marketplace, called LoanExplorer. LoanExplorer is an all-in-one mortgage pricing solution designed specifically for consumers, lenders and publishers.
With LoanExplorer, consumers can access a real-time, informative mortgage shopping experience, by anonymously comparing loan product details, costs and rates based on their individual financial situation. Borrowers can then choose to connect with the lenders that match their needs electronically or by an 800# call.
For lender partners, LoanExplorer will deliver informed and motivated borrowers, thereby enhancing conversion rates. Lenders will be able to display their brand, products and services along with rates and fees that are relevant to the consumer's requirements. LoanExplorer will also offer lenders multi-channel media exposure for broad consumer reach and advanced offer targeting.
"This tool will dramatically improve customer acquisition economics for lenders," said Bruce Cook, Vice President of Business Development for LendingTree. "What's more, media partners and publishers should dramatically improve the monetization of their site traffic with this content advertising. LoanExplorer will provide a superior comparative learning experience that we believe will result in higher visitor satisfaction, longer site visits and the highest revenue in the category. And the consumer will never leave the media partner's web site."
LoanExplorer is powered by a world-class automated loan pricing engine with comprehensive real-time product eligibility execution.
"Media is becoming personal," said Doug Lebda, CEO of LendingTree. "As the leading online lending exchange, we are committed to advertising that is more relevant to our core consumers and offers better distribution of our lender partner's products. Borrowers today are seeking a personalized loan shopping experience. LoanExplorer loan marketplace accomplishes this, putting control of the mortgage shopping process in consumers' hands while providing lenders and media partners with improved results."
For more information, please contact Bruce Cook at firstname.lastname@example.org.
About LendingTree, LLC
LendingTree, LLC is the nation's leading online lender exchange and personal finance resource, helping consumers take charge of all their financial decisions, from budgeting to money management to mortgages to credit cards and more. LendingTree provides a marketplace that connects consumers with multiple lenders that compete for their business, as well as an array of online tools to aid consumers in their financial decisions. Since inception, LendingTree has facilitated more than 28 million loan requests and $214 billion in closed loan transactions. LendingTree provides access to lenders offering mortgages and refinance loans, home equity loans/lines of credit, and more. LendingTree, LLC is a subsidiary of Tree.com, Inc. (Nasdaq: TREE). For more information go to www.lendingtree.com, dial 800-555-TREE, join our Facebook page and/or follow us on Twitter @LendingTree.