The online lending marketplace LendingTree, LLC has agreed to acquire the assets of Louisville, Kentucky-based SurePoint Lending, a traditional mortgage originator. The acquisition will give LendingTree, which operates exclusively online as a loan exchange for borrowers to shop different lenders, a branch network for the first time in company history.
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LendingTree has filed a lawsuit against the online real estate marketplace Zillow Inc. and three other competitors, which alleges the companies stole LendingTree's method for providing borrowers with a comparison shopping experience for home mortgage products. The North Carolina-based online lending exchange claims its four rivals all infringed on LendingTree's 2002- and 2003-patented formulas for competitively matching borrowers with lenders based upon a single loan application from the consumer.
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