Citing Contract Violation, LendingTree Sues Mortech

Posted by Orb Staff on August 27, 2009 No Comments
Categories : Residential Mortgage

LendingTree has filed a lawsuit against Mortech Inc., a technology provider, for violating its contract with LendingTree, according to a LendingTree media statement.

According to the lawsuit, Mortech, whose technology helps automate lender offer pricing, violated its contractual covenants by partnering with Google to launch an online mortgage loan aggregator service similar to LendingTree.

LendingTree says it repeatedly tried to resolve the dispute outside of the courtroom, with no success. LendingTree has filed a motion for a temporary restraining order and preliminary injunction enjoining Mortech from assisting Google. A hearing has been scheduled for Sept. 2.

SOURCE: LendingTree

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