Veteran Loan - Has Lending Tree Met its Match? Home Loan G...

Veteran Loan -
Has Lending Tree Met its Match? Home Loan G...

coms marketplace concept was created especially to let consumers countrywide choose one of up to four competitive http://www.lenderlocator.com [home loan] offers from major, national, regional, and local lenders.According to their website, Lending Tree does not charge the consumer any fees for their services; the lenders pay their bills for the opportunity to compete.The problem lies in that the winning lender who closes the consumers http://www.lenderlocator.com [home loan] must presumably charge the consumer higher rates and fees than they normally would in order to compensate for the up to $1,000 fee Lending Tree requires upon the closing of the loan, said Grant Prevor, President of Lender Locator. In essence, Lending Tree is earning a percentage of the amount the consumers borrow.The fee charged to the winning lender by Lending Tree is scaled according to the amount borrowed.Lender Locator was designed to eliminate the fundamental flaws of the Lending Tree home loan process.Their countrywide mortgage concept is simple: an individual can complete one short online application and receive http://www.lenderlocator.com [home loan] offers from up to four pre-screened mortgage lenders doing business in his or her area.Further improvements to the concept include not requiring a Social Security number to apply online, a common apprehension of consumers reluctant to apply for an online home loan.Applicants can also specify what time of da