ADVFN - Advanced Financial Network.
HOME» NASDAQ » L » TREE Stock Price » TREE Stock News

Lendingtree Share News

 Tree.com (mm) Stock Price
TREE Stock Price
 Tree.com (mm) Stock Chart
TREE Stock Chart
 Tree.com (mm) Stock News
TREE Stock News
 Tree.com (mm) Company Information
TREE Company Information
 Tree.com (mm) Stock Trades
TREE Stock Trades

Discover To Pay $55.9 Million To Buy Tree.com's Mortgage Business

DOW JONES NEWSWIRES Discover Financial Services (DFS) agreed to pay about $55.9 million to acquire Tree.com Inc.'s (TREE) mortgage origination business, as the company aims to add a residential mortgage component to its direct-to-consumer banking business. The company, both a lender to cardholders and a processor of transactions, said it plans to originate eligible consumer mortgages to sell in secondary markets on a servicing-released basis. The unit--called Home Loan Center but operating as LendingTree Loans--originates and processes consumer mortgage loans. The deal is subject to the approval of regulators and Tree.com's stockholders, and is expected to close by the end of the year. For its part, Tree.com said the deal will allow it to focus on core businesses, and expects to use proceeds from the transaction for business investments. Separately, Tree.com reported its first-quarter loss widened as selling and marketing expenses jumped, and a 25% drop in revenue, to $33.4 million. Discover earns revenue on its credit card loans, as well as the fees it charges banks and merchants, such as grocery stores or gas stations, to process card payments. The company has been ramping up other businesses, such as private student and personal loans, as it seeks revenue growth. Discover's shares closed up 2 cents at $24.20 Thursday, while Tree.com's ended up 4.7% at $5.40. Both stocks were inactive after hours. -By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

Stock News for Lendingtree (TREE)
DateTimeHeadline
03/12/201315:47:26Discover Financial to Tap Home-Equity Market
12/20/201209:48:46Discover Shares Fall After Reporting Weaker-Than-Expected Earnings
06/12/201208:15:03Discover Launches Mortgage Business in Continued Expansion
05/21/201218:16:14Discover CFO: Interested In Private-Label Card Business
03/22/201214:04:46Discover Financial Targets Mortgage Market With Home-Loans Unit
02/24/201209:53:23Discover CEO Nelms' Compensation Rose 62% In Fiscal 2011
02/08/201210:19:33Discover To Accelerate Payments For Tree.com's Mortgage Business
05/13/201111:29:07Discover:Acquisition 'Low-Cost Low-Risk Way' To Enter Mortgages
05/12/201117:18:38Discover To Pay $55.9 Million To Buy Tree.com's Mortgage Business

Lendingtree and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad