LendingTree Launches New Tool to Connect Lenders with CRA-Eligible Borrowers
New lender tool supports CRA requirements by matching low- to moderate-income borrowers with lenders best suited to meet their financing needs
CHARLOTTE, N.C., June 27, 2016 /PRNewswire/ -- LendingTree®, the nation's leading online loan marketplace, today announced the launch of its CRA-eligibility tool, which enables banks and lending institutions subject to CRA evaluations to easily identify low- to moderate-income borrowers which meet CRA criteria, promoting access to credit within these traditionally underserved communities.
The Community Reinvestment Act (CRA), which was enacted in 1977, is designed to encourage banks to help rebuild and revitalize communities through sound lending and good business judgment that benefits the banks and the communities they serve.
"LendingTree's new matching capability offers more financing opportunities to borrowers who may otherwise find difficulty in securing loans due to income requirements," said Doug Lebda, founder and CEO of LendingTree. "We're focused on continuing to provide our lender network with solutions that create operating and marketing efficiencies while also benefiting consumers."
For lenders interested in LendingTree's new CRA eligibility program, please visit www.lendingtree.com/about/partner-with-us/register or contact [email protected].
About LendingTree
LendingTree (NASDAQ: TREE) is the nation's leading online loan marketplace, empowering consumers as they comparison-shop across a full suite of loan and credit-based offerings. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan. Since inception, LendingTree has facilitated more than 55 million loan requests. LendingTree provides free monthly credit scores through My LendingTree and access to its network of over 350 lenders offering home loans, personal loans, credit cards, student loans, business loans, home equity loans/lines of credit, auto loans and more. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.
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SOURCE LendingTree
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