Consumers v Lending Tree, Home Loan Center

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LendingTree Faces Class Action Lawsuit

Case ID: 4931

Category: Credit / Debt

Last Update: 10/12/2006

Country:

A class action lawsuit has been filed against LendingTree and its subsidiary, Home Loan Center Inc. It alleges that the companies engaged in unfair business practices and false advertising.

LendingTree's Web site touts the company as a loan-origination service that allows lenders to compete for borrowers' business. The lawsuit contends LendingTree diverts LendingTree.com leads to its subsidiary, which conducts business under the name LendingTree Loans without any competition.

There, the suit says, borrowers are sold loans at inflated prices based on the false representation that competition for the business has occurred among lenders.

The lawsuit was filed in Orange County Superior Court on behalf of consumers.

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