As a mortgage lender I cannot agree with you more about Lending Tree. They
are simply a lead service. When they tell the consumer that they will be
contacted within hours by up to 4 lenders what they are actually saying is, "If
the first broker/lender we offer your lead to does not buy it as an exclusive
lead we will sell it to up to 3 more brokers/lenders."

Rather than finding a lender or broker that has mortgage program that fits
the consumer's unique needs Lending Tree randomly distributes the information
to brokers and lenders who may not have a meaningful program. So instead of
getting the best deal the consumer is stuck with dealing with one to
four companies that have paid a very high premium for getting their contact
information.

When Lending Tree approached us they wanted a $50,000 set up and feesper
lead that they are sent. There are other mortgage groups out there thatdo a
MUCH better job than Lending Tree--like the group I am affiliated with.

Our group has around 500 offices through out the country and have wholesale
relationships with just under 400 banks and mortgage investors withapprovals
pending at about 150 more. (Lending Tree has less than 300 "lenders"and most of
those are mortgage brokers who then shop the lead to the lenders theydeal
with). When we get a lead from a realtor we shop it among ALL of theavailable
lenders (including ALL of the major banks) and find the BEST programfor the
specific circumstances of the home buyer.

My advice to all the real estate professionals here is to run just asfast as
possible from Lending Tree...

Steve Ervin