CHARLOTTE, N.C., May 7, 2014 /PRNewswire/ -- LendingTree, the nation's leading online source for competitive loan offers, today announced the launch of its new mobile app which allows borrowers to comparison shop for mortgages in seconds.
The new mobile app was designed from the ground-up to optimize the shopping process for a mobile consumer and leverage cloud computing technologies. In just a few seconds, consumers can access LendingTree's marketplace of real-time offers and receive personalized offers from LendingTree's network of over 300 Lenders. Additionally, the custom-built tools allow consumers to compare offers they may already have with what they might find across the LendingTree Network.
"With the success we've seen through our improved mobile experience and with more than 50% of our traffic coming from mobile devices, we wanted to further enhance mobile functionality in LendingTree's mobile app," said Doug Lebda, founder and CEO of LendingTree. "Borrowers can easily compare loan offers in seconds, connect with lenders and calculate mortgage payments, providing confidence during the mortgage shopping experience."
The easy-to-use app provides a variety of helpful loan-related tools, including the ability to compare current loan offers and to contact lenders on the Lending Tree Network. In this personalized mobile experience, users can submit data found in the Good Faith Estimate (GFE) of a current loan offer and then analyze the interest rate, origination fees and monthly payments to identify possible areas for improvement. Interactive charts show how one's loan offer to what is currently available in LendingTree's market place for your scenario. Based on the information provided, the app points out areas of improvement and provides negotiating tips to improve the offer. If interested, users are presented with several offers from network lenders which allow the user to potentially spot a better deal, complete with contact details, customer ratings and reviews.