Citibank Joins The LendingTree Network to Target Web-Based Borrowers.CHARLOTTE, N.C.--(BUSINESS WIRE)--Dec. 3, 1998-- Growing List of Lenders More than Doubles with Citibank and Recent Additions Advanta and Altus LendingTree, the leading online loan center that quickly connects borrowers to a network of lenders who bid for their business, today announced that Citibank has joined its burgeoning network of lenders. The LendingTree Network has grown more than 100 percent since June 1998 to a total of 21 lenders. LendingTree's online loan center (www.lendingtree.com) has seen traffic increase by more than 40 percent in that period, demonstrating its ability to serve lenders and borrowers alike. "Borrowers know that our network includes top lending institutions Noun 1. lending institution - a financial institution that makes loans financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and invests them in such as Citibank and they know they will get the most competitive rates and best customer service from The LendingTree Network," said Doug Lebda Doug Lebda is the founder of Charlotte-based LendingTree.com. In December of 2005 he became president of IAC Interactive, the parent company of LendingTree.com [1]. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and founder of LendingTree. Citibank offers a full range of loan types, including personal, auto, mortgage, home equity, credit cards and debt consolidation. In addition to Citibank, Advanta Corporation, a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company that is one of the nation's largest sub-prime lenders, and Altus Mortgage Corporation have also joined The LendingTree Network to enter the growing online loan market and take advantage of the cost and time savings. Lenders in The LendingTree Network enjoy many benefits, including: access to more qualified borrowers tailored to fit lenders' criteria, the flexibility to direct requests to various divisions and subsidiaries, reduced loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. costs, the ability to test benefits of the Web without a major investment, and aggressive and targeted marketing programs aimed at potential borrowers. Unlike other online lending services, LendingTree features proprietary filtering software that enables the lender to profile out the borrower they want based on criteria ranging from geography to credit score and make an underwritten offer that matches the terms to the specific credit risk. This way, lenders only receive applications from borrowers who meet their lending criteria - saving time, money and manpower. About Citibank Citibank serves consumers and small businesses in the U.S. through a network of 430 branches in nine states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , as well as providing national credit card, mortgage, investment and electronic banking services. Citibank is a subsidiary of Citigroup which was formed on October 8, 1998 by the merger of Citicorp and Travelers Group Inc. Citigroup consists of businesses that produce a broad range of financial services - asset management, banking and consumer finance, credit and charge cards, insurance, investments, investment banking and trading - and use diverse channels to make them available to consumer and corporate customers around the world. Among its businesses are Citibank, Commercial Credit, Primerica Financial Services Primerica Financial Services, a wholly owned subsidiary of Citigroup, is a multi-level marketing[1] company headquartered in Duluth, Georgia. It is the largest financial services marketing organization in North America, with more than 100,000 licensed independent , Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , SSBC SSBC Stainless Steel Brakes Corporation (Clarence, New York) SSBC South Shore Baseball Club (Hingham, Massachusetts) SSBC Saint Stephen's Baptist Church (Temple Hills, Maryland) Asset Management Group, Travelers Life & Annuity, and Travelers Property Casualty. About LendingTree, Inc. LendingTree, Inc., founded by Doug Lebda in 1996 and based in Charlotte, N.C., is the online loan center that quickly connects borrowers to a network of lenders. Loan types include personal, auto, mortgage, home equity, credit cards and debt consolidation. The company is led by a management team comprised of industry veterans in the banking, financial services and information technology industries. LendingTree recently announced that Mitchell York, former CMP CMP (cytidine monophosphate): see cytosine. (1) (CMP Media LLC, Manhasset, NY, www.cmp.com) Part of United Business Media, CMP is a leading integrated media company that offers a wide variety of publications and services in the information Media Vice president, has joined the company as president and is responsible for LendingTree's overall internal operations and everyday direction of the company. In addition, LendingTree has formed strategic partnerships with priceline.com and Snap. LendingTree can be contacted by visiting its Web site at www.lendingtree.com or by phone at 704-541-5351. |
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