LendingTree Says Google’s Getting Into Mortgage Quotes
The company that provides a mortgage product and pricing engine to LendingTree is ready to do the same thing for Google, according to a new lawsuit. Indeed, LendingTree claims to have screenshots proving that Google is about to get into the mortgage quote business.
It’s important to note that LendingTree isn’t suing Google; Mortech, the software maker, is the target (for allegedly violating a contract).
Still, Google’s pretty much the central figure in this dispute. As reported by Miguel Helft, LendingTree believes it’ll enter the loan aggregation business sometime in the next 20 or so days. Helft wrote, "LendingTree has obtained screen shots of a trial version of Google’s service that further indicate that it plans to ‘provide customers with conditional loan offers in addition to lenders’ contact information.’"
Google also semi-confirmed the move by admitting, "[W]e are currently working on a small ad unit test that will run against a limited number of mortgage-related search queries in the U.S."
And if you remember that Google’s tried to supply real estate listings for some time now, the potential development starts to really make sense.
The one tricky thing: it’s hard to imagine how wildly popular Google might become if it starts helping people save tens of thousands of dollars.