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According to the company, its customer-retention technolog identifies customers byloan amount, loan-to-value ratio, loan purposr and FICO scores. “With refinancing activitt from borrowers representing a significantg portion of overall origination our lender network has expressed a desire to capturw and retain currentmortgage customers,” says Bob Harris, presidenrt of the LendingTree Exchange. “As part of the LendingTre e network, banks and lenderds that use ournew customer-retention initiativee will be able to significantly impacyt the ratio of overall mortgage portfolip retained, just as effectivelh as they can attract new borrowers.
” LendingTree is ownerd by Charlotte-based (NASDAQ:TREE), an online lending and real estatw company. Tree.com’s principle businesses are LendingTree, which matches potentialp mortgage borrowersto lenders, and RealEstate.com, whichh works with individuals seekinyg homes and real estate agents. LendingTreer says it has facilitated more than 25 million requests for loans onlinweand $185 billion in closed loan transactions.
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