Internet mortgage broker goodmortgage.com is partnering with LendingTree, an online lending and real estate exchange, by joining the more than 200 lenders on its network.
In addition to becoming a participant on the LendingTree exchange, goodmortgage.com will license LendingTree’s Lend-XSM Automated Decision Engine (ADE). This tool helps lenders lower their loan processing costs by using the Internet to provide an immediate response to mortgage loan requests.
“As a low cost Internet-based lender, we are well positioned to compete on the LendingTree Network. The implementation of LendingTree ADE technology is a win for goodmortgage.com and a win for our customers,” said Keith Luedeman, CEO of goodmortgage.com.
“We are now able to accept more consumer requests and process them more efficiently, leaving us with more time to spend with our customers to ensure that they receive great service, an instant and customized offer, and a timely close on their loan. We believe strongly that the consumer deserves an immediate response to their home loan request, so licensing ADE was an easy decision and a great technology fit.”
Officials at Charlotte-based LendingTree say that goodmortgage.com, also based in Charlotte, will benefit from the ADE technology, too.
“goodmortgage.com’s choice to license LendingTree’s Automated Decision Engine technology demonstrates our mutual commitment to providing consumers with competitive loan offers online,” said Lori Collins, senior vice president of LendingTree. “By incorporating our technology, goodmortgage.com will enjoy a more cost-effective, interactive tool that will allow it to service its consumers more efficiently.”