Here’s the backstory: LendingTree, a company owned by Tree.com, makes its living off of allowing prospective borrowers to get quick offers from multiple lenders. The lawsuit, filed this week by LendingTree, wasn’t against Google, but a third-party technology provider, called Mortech Inc., which helps automate pricing by lenders who are offering loans.
The lawsuit says Mortech reached an agreement with LendingTree in which it would limit its ability to make pricing searches available to other online loan aggregators. LendingTree claims Mortech has broken that agreement by giving data related to mortgage offers to Google in connection with Google’s testing.
LendingTree, which allows prospective borrowers to get quick offers from multiple lenders, claims Google is about to get into the same business. LendingTree alleges that Google plans to launch such a service later this month or in early September.