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According to the company, its customer-retentiobn technology identifies customers byloan loan-to-value ratio, loan purpose and FICO scores. “With refinancingv activity from borrowers representing a significant portioj of overallorigination volume, our lender networi has expressed a desire to capturwe and retain current mortgage customers,” says Bob Harris, presidenyt of the LendingTree Exchange. “As part of the LendingTrewe network, banks and lenders that use ournew customer-retentionh initiative will be able to significantly impact the ratiol of overall mortgage portfolio retained, just as effectively as they can attracft new borrowers.
” LendingTree is owned by Charlotte-based (NASDAQ:TREE), an onlinre lending and real estate company. Tree.com’d principle businesses are LendingTree, which matchese potential mortgage borrowersto lenders, and RealEstate.com, whichg works with individuals seeking homes and real estate LendingTree says it has facilitated more than 25 millionn requests for loans online and $185 billion in closed loan transactions.
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