LendingTree Closes! (upside, close, purchase, value)

[Former LTL]

Just to sum a few things up.

1)The title of this thread is wrong. LendingTree Loans and Home Loan Center, who's parent company is LendingTree have both basically closed.

2)The # for LendingTree Loans is (888) 866 1212, the # for Home Loan Center is (800) 756-0789. Try to reach a representative at either and you will get the message "all of our representatives are unable to assist you at this time."

3)This is not "LendingTree," as a parent companies, only layoff since the big one of 440 people back in May... ( LendingTree to Lay Off 440 Workers - News & Analysis - Technology - IACI - IACI ) There was a layoff of roughly 255 people September 28th that was kept largely hush hush...( [url=http://radar.planetizen.com/node/57196[/url] )

[pghquest]

Originally Posted by Former LTL

Again, you are calling LendingTree, not LendingTree Loans. the # for LTL is (888) 866-1212. Try to reach an operator...It says all representatives are unable to assist you at this time. LTL had operators available 24 hours a day, 7 days a week. I am sure you can still get a hold of people at LendingTree. The whole purpose of my original post was to establish the difference between LTL and its parent company LendingTree. LTL is basically a branch of Home Loan Center which was bought by LendingTree so that they could originate mortgage loans. Go back and re-read my original post on page 3 of this thread.

Excuse me while I point out a few facts
1) TOPIC of forum is LENDINGTREE CLOSES, it does not say LendingTree Loans
2) Home Loan Center Inc is actually the owner of LendingTree Loans, LTL, which runs under HomeLoanCenter.com, not the "lendingtree"
3) LendingTree corporate offices are in Charlotte
4) Home Loan Center Inc corporate heaquarters are in irvine Ca

LendingTree and LTL are not even related legally, even though they may share some office spaces.

If you were laid off by LTL or if LTL is closing down.. this has nothing to do with Lendingtree, they arent even owned by the same companies..

I would not have made a huge deal out of this had the topic been
"LendingTree LTL" closing down, I might even not have made a huge deal out of it, had the topic been Home Loan Center, closes divisions..

But LendingTree is not closing down even though they are being sold / liquidated by the parent owners by IPO.

[pghquest]

Originally Posted by Former LTL

Just to sum a few things up.

1)The title of this thread is wrong. LendingTree Loans and Home Loan Center, who's parent company is LendingTree have both basically closed.

2)The # for LendingTree Loans is (888) 866 1212, the # for Home Loan Center is (800) 756-0789. Try to reach a representative at either and you will get the message "all of our representatives are unable to assist you at this time."

3)This is not "LendingTree," as a parent companies, only layoff since the big one of 440 people back in May... ( LendingTree to Lay Off 440 Workers - News & Analysis - Technology - IACI - IACI ) There was a layoff of roughly 255 people September 28th that was kept largely hush hush...( [url=http://radar.planetizen.com/node/57196[/url] )

Thanks.. your posting just beat mine, but it appears that we both came to the same outcome. My only point was to clarify the issue because right now..

"lendingtree closes" is all over the internet, with this forum being #1 on the search engine.

http://www.google.com/search?hl=en&q=lendingtree+closes

I just wanted to confirm the facts, and clarify it because by Monday.. Lendingtree closes will be all over CNN, etc, and by Tuesday.. Lendingtree stock will nosedive, simply because a forum was mis-titled..

[pghquest]

Clarify one more issue..

Originally Posted by Former LTL

Just to sum a few things up.
1)The title of this thread is wrong. LendingTree Loans and Home Loan Center, who's parent company is LendingTree have both basically closed.

You mean LendingTree LTL has closed, not Lendingtree.. they are 2 seperate companies..

[Former LTL]

Yeah, we are on the same page. I didn't create the title of the forum. But the title is not correct as I said.

The ownership of LTL and HLC is a moot point. I simplified the ownership aspect in my original post to clarify that LendingTree did not close, that the mortgage loan origination companies that it owns (LTL and HLC) have closed or been entirely re-structured and its loan origination operations have ceased.

It seems LendingTree will now only be aggregating leads once more.

[Former LTL]

Thats what was saying there... LendingTree Loans and Home Loans Center have basically closed. The parent company of Home Loan Center, and therefor the parent company of LendingTree Loans...is LendingTree

Is that a better way of putting it? Sorry if it didn't make sense before.

Originally Posted by pghquest

Clarify one more issue..

You mean LendingTree LTL has closed, not Lendingtree.. they are 2 seperate companies..

[pghquest]

Originally Posted by Former LTL

Yeah, we are on the same page. I didn't create the title of the forum. But the title is not correct as I said.

The ownership of LTL and HLC is a moot point. I simplified the ownership aspect in my original post to clarify that LendingTree did not close, that the mortgage loan origination companies that it owns (LTL and HLC) have closed or been entirely re-structured and its loan origination operations have ceased.

It seems LendingTree will now only be aggregating leads once more.

So instead of LendingTree closing.. they are actually going to be doing the opposite by increasing business (adding aggregation leds again).

[pghquest]

One might assume, that since both companies work closely together that Lendingtree might be picking up the assets of HomeLoanCenter, and if I was to bet, a lot of this is to prepare to cut costs so that they can prepare the IPO. Right now, its not an attractive buy to anyone cause of the huge losses..

Banker.. sorry to go through all of this, but there is a huge difference between lendingtree closing, and lendingtree LTL closing.. especially when they are two seperate companies..

[Former LTL]

I wouldn't say that their business will be increasing. LendingTree has been aggregating leads all along. There are/were filters in place to determine which leads went to the "network" and which went to Home Loan Center and LendingTree Loans. The leads filtered to HLC and LTL were exclusive to these companies and not sold to the network as well. This is still a negative thing. A required, but still negative thing. I am not bitter, I understand that this venture of LendingTree's was failing and needed to be closed.

No matter how you look at it, LendingTree decided to try it's hand in the loan origination world and bought HLC which created LTL (don't think LendingTree as a parent company of HLC wasn't involved in the creation of LTL, and don't be naive by thinking it didn't share in the profits of both HLC and LTL). Both HLC and LTL have failed, largely in part to the volatile market the entire industry faces. But they are still failures. And LendingTree shares this failure as well.

Originally Posted by pghquest

So instead of LendingTree closing.. they are actually going to be doing the opposite by increasing business (adding aggregation leds again).

[Former LTL]

And yes, I am sure these closures are to prepare the IPO for the split from IAC. LendingTree's lead aggregation is still strong, and a LendingTree Lead is still the most respected in the industry.

But the loan origination is where LendingTree as a company will post most of their losses. So cutting that aspect of its business in this volatile market is a necessary thing.

I still personally believe this reflects negatively for LendingTree as a whole though it was necessary, and if the market reacts negatively on Monday it is doing so justly.

Originally Posted by pghquest

One might assume, that since both companies work closely together that Lendingtree might be picking up the assets of HomeLoanCenter, and if I was to bet, a lot of this is to prepare to cut costs so that they can prepare the IPO. Right now, its not an attractive buy to anyone cause of the huge losses..

Banker.. sorry to go through all of this, but there is a huge difference between lendingtree closing, and lendingtree LTL closing.. especially when they are two seperate companies..