Lending tree and eloan
LendingTree
LendingTree, LLC is an online lending exchange, providing a marketplace that connects consumers with lenders that compete for their business. LendingTree is a web-based company (LendingTree.com), operating a lead-generation business. A "lead" is a collection of information about a consumer interested in getting a loan. Lenders pay for these leads, and LendingTree is a source for them. The prospective borrower fills out a questionnaire on LendingTree.com detailing the loan request, property, personal finances, and contact information. They use this information to select the lenders to whom the information is sold. Lenders prepare an offer to the borrower based on the same information.
LendingTree customers are the lenders and mortgage brokers who can afford to buy these leads. They pay LendingTree for mortgage-loan leads to get this information on potential customers. These leads are sold to the highest bidder depending how good the information and credit standing is for each lead.
LendingTree has facilitated more than 20 million loan requests and $152 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, online high yield savings accounts, and credit cards.
Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree is part of IAC Financial Services and Real Estate, an operating company of IAC (NASDAQ: IACI), which also owns or operates LendingTree Loans, LendingTree Settlement Services, GetSmart, RealEstate.com, Domania, and iNest Realty.
E-Loan, Inc. is a financial services company that offers home mortgage, home equity, and auto loans, along with online high yield savings and certificates of deposit (CDs).
E-LOAN is currently headquartered in
Founded in 1997 by Janina Pawlowski and Chris Larsen, E-Loan, Inc. was established to provide customers with access to mortgage loans over the Internet.
As the company continued to evolve, more products and enhancements were introduced. In 1998, E-LOAN launched E-Track, a proprietary system that allows borrowers to securely check the status of their loans online. On September 2, 1998, E-LOAN received venture capital funding from Sequoia Capital. [1]
In 2000, E-LOAN became the first company to provide consumers with free access to their credit scores, allowing customers to check for possible incidents of identity theft or erroneous entries of credit debt. This was introduced at a time when many financial companies were reluctant to release this information.
Buoyed by this success, but still determined to improve public credit disclosures throughout the nation, Larsen helped form “Californians for Privacy Now” to lead the fight for stricter financial privacy protection. After collecting over 600,000 signatures, the measure was placed on the
Ownership of the company changed in 2005 when Popular, Inc. acquired E-Loan, Inc.
In 2006, E-LOAN branched out into online savings accounts and CDs, promising their CD rates would be among the highest in the nation.
At E-LOAN, "Radically Simple" says it all. We're dedicated to providing the best lending and savings service possible. We offer reduced paperwork; personalized service; the industry's strictest privacy policy; and no hidden costs.
Since our 1997 launch, E-LOAN has led the charge to protect consumers' financial privacy. We've lobbied Congress; we've helped change laws for the better. We've also assisted many in securing the loans they need. From its inception, E-LOAN has originated over $32 billion in consumer loans.
Two independent studies further tell the story. One, conducted by TRUSTe and The Ponemon Institute, ranked E-LOAN as one of the Top 20 most trusted companies for privacy in
