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 Launches Mortgage Business in Continued Expansion

By Kristin Jones Discover Financial Services (DFS) launched its home-loan origination business as the lender continues its push beyond credit cards. Discover first disclosed its plans last year to originate mortgages when it said that it was buying assets from Tree.com Inc. (TREE), an online lending program. Discover, best known for its credit cards, had laid out plans to originate mortgages that conform to Freddie Mac (FMCC) and Fannie Mae (FNMA) standards and sell the loans in the secondary market. In March, the company said it planned to launch its online mortgage business by mid-year. "Home loans are a product our customers have been asking for, and our approach offers the simplicity, transparency and personalized service for which Discover is known," Carlos Minetti, president of consumer banking and operations, said on Tuesday. The company will offer prime variable- and fixed-rate loans, and web access to documents and loan status will be provided on www.discoverhomeloans.com. The move into mortgages is in line with the lender's moves to diversify its business, which is heavily dependent on credit-card loans. Discover has also begun offering private student loans and personal loans. Discover has also pushed to become a full-service online bank, with a wide array of financial products. Shares closed Monday at $32.40 and were inactive premarket. The stock is up 35% so far this year. Write to Kristin Jones at kristin.jones@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