What is loss mitigation?
Loss mitigation is an attorney based process where lenders work with homeowners to create a more feasible mortgage situation. The process of mitigation can include any of the following steps.
Loan Modification
Short-Refinance
Short Sale
Deed in Lieu
Cash For Keys
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Can I mail, email or fax in my loan request?
LendingTree is committed to sending information to Lenders quickly and accurately. Using mail, email or fax would introduce the possibility of transcription errors, unnecessary delays and additional costs - which would reduce the benefits of using LendingTree! That is why we only accept loan requests through our online forms or over the phone where we can confirm the information you provide.
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Can I negotiate directly with the Lenders?
Absolutely. You are under no obligation to accept a Lender's first offer. In fact, if you've received a better offer from another Lender, we give you the opportunity to tell the Lender about it through our Web site. In most cases, when you receive your loan offers, we will provide you with contact information for each Lender. Feel free to contact the Lender directly to discuss different loan programs. However, if you accept a loan offer from a Lender, be sure to send your response through LendingTree so that we can update our records.
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Can you delete my information?
We cannot delete your loan request because we must maintain a record of your inquiry to comply with state and federal record retention laws. However, we do not share your information except in accordance with our Privacy Policy. Should a state or federal regulator request records of consumers who completed loan requests, as a regulated entity, we must comply with that request to produce any such records.
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How can I check on the credibility of LendingTree?
We think the best endorsement comes from people who found a loan through LendingTree. We get letters and emails each day from happy borrowers who found a loan. We've shared some of their comments in Customer Feedback. LendingTree is also a member of the Better Business Bureau. Please feel free to call them at (704) 527-0012 to check up on us.
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Do you have Lenders who deal with less-than-perfect credit?
Yes! We have Lenders who work with borrowers with perfect credit and less-than-perfect credit. Although we can't guarantee that you'll get a loan offer, we will try to match your loan request with Lenders who are eager to work with you.
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Does having a co-borrower improve my chances of finding a loan?
Including a co-borrower on your loan request may or may not affect your chances of finding a loan. Lenders will consider the credit reports, income, assets, debts and other information about both borrowers. Before you decide whether or not to include a co-borrower on your loan request, consider your combined financial picture.
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Does LendingTree and/or each Lender pull my credit report?
LendingTree pulls your credit report when you complete a loan request. LendingTree's inquiry does not count towards your credit score nor does it show up on your credit report to anyone but you.
Each Lender has their own policy about pulling your credit. Some may pull your credit before they make you a loan offer; others may pull your credit after you have accepted their offer. In all cases, LendingTree pulls your credit report when you complete a loan request.
Presently Fair Isaac Corporation (the company that provides "FICO" credit scores) provides that for mortgage or auto loans it disregards those inquiries made in the prior 30 days. All inquiries on your credit report within a 14-day period will count as one inquiry if you are looking for a mortgage to purchase a home, a mortgage to refinance your home, a home equity loan or line of credit or an auto loan. If you are looking for a personal loan or credit card, however, each inquiry will be counted as a separate inquiry.
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Why does LendingTree need my credit score?
LendingTree receives your credit score to help Lenders determine if they want to compete for your business. Because LendingTree has your credit score, the Lenders on our network are better able to give you loan offers that are customized for you, rather than just providing you lowball rate quotes with no regard to your credit or financial profile.
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What if I’m not comfortable with LendingTree pulling my credit score?
If you are not comfortable with LendingTree using a soft inquiry to pull your credit, you can be matched with Lenders through our QuickMatch process. QuickMatch will match you with Lenders who meet your criteria, but without your credit score, Lenders won’t be able to make loan offers until they talk to you directly and get permission to pull your credit.
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Does LendingTree charge any "upfront fees"?
LendingTree does not charge any kind of fee for the service of matching borrowers with lenders. In addition, no lender that you are matched with through LendingTree will ask you for any upfront fees to "guarantee" or "insure" a loan. Beware if you are asked for a fee or "insurance" before completing an application with a loan officer. No legitimate lender does this.
If you receive calls, letters or emails from “lenders” who say that they are LendingTree or who tell you that they represent LendingTree, make sure you know the facts:
LendingTree only matches customers with lenders on our network, including Home Loan Center or LendingTree Loans. You will be notified of lenders you are matched with either through emails from LendingTree, by a LendingTree Loan Specialist or by a Home Loan Center Specialist through emails or over the phone. Click here to review a full list of LendingTree lenders.
LendingTree and our lenders will not ask you to pay any money for approving a loan, guaranteeing a loan or for "insuring" a loan.
LendingTree and our lenders will not ask you to send a copy of your driver’s license or social security card before you have submitted an application with a loan officer. Please note: If you complete a loan request through LendingTree, you have not completed a loan application. You must do this with the lenders with whom you are matched.
LendingTree and our lenders will never ask for your bank account information before you complete your loan application.
Legitimate lenders may ask for and charge an interest rate lock fee, application fee or appraisal fee once you begin working with a loan officer. LendingTree suggests that you use a credit card when paying any fee for your protection.
For additional information on this important issue, please see: http://www.ftc.gov/bcp/conline/pubs/tmarkg/loans.pdf
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How do I get started?
It’s simple. From the home page (www.LendingTree.com), select the loan type you want and complete an online loan request. It takes between 10 to 15 minutes to complete the form. If you need help, look for our calculators and tips to help you along the way. You can also contact LendingTree Customer Care at 1-888-272-1355 and complete a loan request over the phone.
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How can I change the information I submitted on my loan request?
In most cases, you will have to complete another loan request with the updated information. You can either do this online or by calling LendingTree Customer Care at 1-888-272-1355 where we can pre-fill much of your information using your initial loan request once you identify yourself.
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How can I learn more about the Lenders?
The LendingTree Lender Scorecard is a valuable resource you can use to gain additional information about the Lenders that may be competing for your business. After our customers close their loans, we ask them to rank their Lenders in a variety of customer satisfaction categories. Five stars is the highest possible rating. We hope our Lender Scorecard helps you select the Lender that's right for you. We look forward to your feedback after you close your loan.
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How can I update my email address?
Please contact our Customer Care Department at 1-888-272-1355 to correct or update your email address.
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How do I cancel my loan request?
We are sorry that you do not wish to continue with your loan request. As soon as you submit your request, we try to match it with Lenders on our network. If you have been matched with a lender, you must contact that lender directly to cancel your request. The lender's contact information is included in the details of your loan offer.
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I've accepted an offer. How do I close the loan?
After you accept an offer, you will need to communicate with the Lender directly (via mail, email or phone) to complete the loan process. You will need to verify the information you provided through our site through W-2 forms, pay stubs, house appraisals etc. You'll also need to sign the official application forms from the Lender and schedule a closing.
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Can I mail, email or fax in my loan request? 