01 Sep 09 Mortech Responding to LendingTree with Legal Challenge
Mortgage technology software provider Mortech, Lincoln, Nebraska, said it has plans to address a legal challenge by Lending Tree, Charlotte, N.C. Mortech said in an e-mailed statement that it would deal with the issue in a “timely fashion,” and noted it has a good track record and reputation when it comes to its dealings with industry partners and customers.
According to a New York Times press report, the suit alleges that Lending Tree feels that Mortech, as its business partner, is in violation of its contract because it is planning to make its pricing engine services available for another online provider’s use Google and those services would compete with Lending Tree’s lead generation system that promotes mortgage loan shopping for consumers online.
