The hot news in the air is Google’s emergence in mortgage market, as reported by New York Time. The news reports that LendingTree has recently learned that Google plans to launch a loan aggregation service in late August or early September this year that would compete with LendingTree. Further it found that Mortech intends to make its pricing engine services available for use with Google’s new service and will send information related to mortgage loan offers to be displayed to consumer on Google’s Web site.
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 declines to comment on the suit or on its product plans, and provides only this statement: “We’re constantly looking for new ways to help people find what they are looking for on the Internet. As part of that effort, we 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.”
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