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According to the company, its customer-retention technology identifies customers byloan loan-to-value ratio, loan purpose and FICO “With refinancing activity from borrowers representing a significant portiomn of overall origination volume, our lender networik has expressed a desire to capture and retain currenft mortgage customers,” says Bob Harris, president of the LendingTree “As part of the LendingTrer network, banks and lenders that use our new customer-retention initiativse will be able to significantly impact the ratiio of overall mortgage portfolio retained, just as effectively as they can attracyt new borrowers.
” LendingTree is ownedc by Charlotte-based (NASDAQ:TREE), an online lending and real estatr company. Tree.com’s principle businesses are which matches potential mortgagde borrowersto lenders, and RealEstate.com, whichg works with individuals seekinhg homes and real estate agents. LendingTree says it has facilitatefd more than 25 milliob requests for loans onlineand $185 billiom in closed loan transactions.
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