Archive for 'Consumer'

Equifax Inc., (NYSE: EFX) Looks to Central America for New Acqusition

Equifax Inc., (NYSE: EFX) Looks to Central America for New Acqusition-Image via CrunchBase

Equifax Inc., (NYSE: EFX) a global information solutions provider, announced today that it has acquired Datum, the leading national credit reporting company in Costa Rica.  Financial details of the transactions were not disclosed.

Datum collects, synthesizes and provides consumer credit data to banks, telecommunications companies, retail and insurance businesses across Costa Rica.   The company is headquartered in San Jose.

“The acquisition of this innovative, market-leading company is an indication of our commitment to the rapidly growing Costa Rican market, and further confirmation of our strategy to grow our presence internationally,” said Paulino R. Barros, Equifax President – International.  “We will be able to offer Costa Rican businesses expanded products and services providing unprecedented financial insights to help them manage and grow their businesses.”

Equifax currently operates a global Shared Services Center in Costa Rica that provides IT, data processing and customer support.  In 2010, the company doubled the size of the Center, where it has more than 500 employees.

About Equifax

Equifax is a global leader in consumer and commercial information solutions, providing businesses of all sizes and consumers with information they can trust. We organize and assimilate data on more than 500 million consumers and 81 million businesses worldwide, and use advanced analytics and proprietary technology to create and deliver customized insights that enrich both the performance of businesses and the lives of consumers.

Headquartered in Atlanta, Equifax operates in four continents and 15 countries, is a member of Standard & Poor’s (S&P) 500® Index.  Its common stock is traded on the New York Stock Exchange under the symbol EFX. For more information, please visit www.equifax.com.

http://www.equifax.com

Credit Repair: How to Find the Real Deal

Cleaning up your credit report can cost you big if you are not careful. Gene Schwalen, CEO of S&S Private Capital and S.O.S. – Score Optimization Systems, wants consumers to be aware of a few red flags in order to avoid these scams.

Banks have tremendously tightened lending guidelines and increased credit score requirements, making it more and more difficult to qualify for a home loan and other financial solutions. With consumers looking for assistance in meeting the stricter loan requirements, many companies have jumped into the credit repair arena, taking advantage of those with poor credit scores. S&S Private Capital along with its Score Optimization Systems puts consumers in the “know” by giving them a few questions to ask and red flags to look for to avoid falling into credit repair traps.

Question #1: Does your company write letters on my behalf hoping information being disputed is not verified within 30 days?

Most credit repair companies will claim they can “legally” remove negative items from a consumers credit report, which is possible if done correctly! However, most companies utilize only one small piece of the Federal Fair Credit Reporting Act (FCRA) which states any information that is “unverifiable” information must be removed.

Therefore, these companies only write letters disputing the validity of the negative information in hopes the credit reporting agencies do not verify the information or the creditor does not respond within 30 days. This process is very unsuccessful, and even worse, the claims are fraudulent, putting consumers at risk since letters are written on behalf of the consumer as if the consumer had written the letters themselves. Additionally, any information that is removed is only removed temporarily in most cases. These type of dispute letters can also leave damaging consumer statements on a credit report that banks look upon unfavorably when making a decision on a loan application, which can lead to an automatic denial of your home loan.

Question #2: How much does your service cost?

A majority of credit repair companies will charge a one time “flat fee” for every client or a small initial investment and a monthly charge for their services. Though the price tag may seem very appealing, you definitely “get what you pay for”! Any company that charges every client the same exact fee, whether it is all up front or monthly, is only writing the type of letters described above. The very reason they are able to charge everyone the same fee is because there is no real cost to produce these letters, other than someone sitting at a computer copying and pasting template letters, and the price of a few stamps. Every consumer’s credit file is different. Therefore, the cost to do the job successfully will vary.

Question #3: What are the guarantees? If any…

Many companies throw out guarantees such as reaching a particular credit scores and delivering results in a very short period of time. Though a lot of these guarantees sound great, consumers need to be very careful. It is very difficult to guarantee any relatively short period of time to complete a client’s credit file. There are many factors and variables that credit repair companies cannot control. The credit repair process, if done correctly, will take time. Make sure all guarantees are in writing! For a Guaranteed Home Loan Approval, check out Score Optimization Systems and the Guaranteed Loan Approval Program provided, in writing, to each client.

Know Your Rights.

All credit repair companies are required to provide a services agreement which outlines the scope of work and expectations for services, a disclosure statement containing the consumer’s rights, and a cancellation notice allowing the consumer to cancel the contract for any reason within three business days from the date of the contract, for a full refund. If a company fails to provide an individual with all three documents, they are not following federal and state regulations.

S.O.S. will provide a free credit report analysis and consultation and help create the best plan of action necessary in order to accomplish your financial goals.

Equifax (NYSE: EFX) Upgrades Identity Protection Plan

Equifax (NYSE: EFX) Upgrades Identity Protection Plan-Image via CrunchBase

Equifax (NYSE: EFX), a leading provider of credit information and identity protection solutions announced the addition of lost wallet assistance to its consumer credit monitoring and identity protection product Equifax Complete Premier Plan™.  The new feature provides consumers with around-the-clock access to a team of identity theft specialists who can assist them with completing the necessary steps to restore the contents of their lost or stolen wallet, including canceling and reissuing driver’s licenses, passports, Social Security cards and credit cards.

Equifax Complete Premier empowers consumers with the confidence of credit monitoring and the peace of mind of identity protection and includes the most comprehensive line-up of consumer product features from Equifax—credit scores, three-bureau credit monitoring, the Automatic Fraud Alert feature, Internet scanning and identity theft insurance.  The addition of lost wallet assistance to the credit monitoring and identity protection essentials of the product gives consumers yet another hassle-free way to safeguard their identity.

For more information on how to protect your identity, visit the ID Theft Resources Tab on the Equifax Facebook page at www.facebook.com/Equifax.  For more details about lost wallet assistance and Equifax Complete Premier, visit www.equifax.com/complete.

About Equifax

Equifax is a global leader in consumer and commercial information solutions, providing businesses of all sizes and consumers with information they can trust. We organize and assimilate data on more than 500 million consumers and 81 million businesses worldwide, and use advanced analytics and proprietary technology to create and deliver customized insights that enrich both the performance of businesses and the lives of consumers.

Headquartered in Atlanta, Equifax operates in four continents and 15 countries, is a member of Standard & Poor’s (S&P) 500® Index.  Its common stock is traded on the New York Stock Exchange under the symbol EFX. For more information, please visit www.equifax.com.  Follow us on Facebook at http://www.facebook.com/Equifax.

*The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.

http://www.equifax.com

Credit Counseling Foundation Accepts New Member

InCharge Debt Solutions (InCharge) has become the newest member of the National Foundation for Credit Counseling (NFCC), joining the nearly 100 member agencies and more than 800 offices represented in the prestigious industry association.  The 60-year-old NFCC promotes a national agenda for financially responsible behavior, and builds capacity for its members to deliver the highest-quality financial education and counseling services.

“We are thrilled to become part of NFCC because it is widely recognized as a leader in working with agencies like InCharge to help consumers drive down their debt and take control of their finances,” said Etta Money, president of InCharge Debt Solutions.  “It is our goal to get very involved in NFCC and, among other things, benefit from their widely-respected agency accreditation and counselor certification.”

“InCharge Debt Solutions has an outstanding reputation for quality service and dedication to helping debt-stressed consumers,” said Susan C. Keating, president and CEO of NFCC.  “It is an honor to have InCharge in our membership and we look forward to working together to continue to enhance the delivery of credit counseling and financial literacy services to American consumers.”

InCharge Debt Solutions, a 501(c)(3) nonprofit organization, provides free credit counseling, bankruptcy and housing counseling services to consumers and service members in need of financial literacy education, money management guidance, and help finding the right debt solution for their specific situation.  The Sergeant Debt video series can be viewed on YouTube or InCharge’s MilitaryMoney.com, a website devoted to helping servicemembers with debt issues through financial literacy education and online resources.

For more information, contact InCharge Debt Solutions:

  • For credit counseling, call 877-486-4924.
  • For housing counseling services, call 877-251-1882.
  • For bankruptcy services, call 866-729-0049.
  • For servicemembers, call 877-258-9549
  • or visit us online at www.InCharge.org

 

About InCharge® Debt Solutions
InCharge® Debt Solutions is a 501(c)(3) non-profit organization specializing in personal finance education, housing counseling, bankruptcy services, and credit counseling. Founded in 1997, InCharge interacted with over 1.2 million consumers in 2010 alone.  InCharge is affiliated with InCharge® Education Foundation, Inc. (ICEF)which is dedicated to providing educational products, services and research supporting the personal financial literacy of consumers across America.  ICEF also provides financial literacy training to servicemembers and their families through MilitaryMoney.com.  InCharge is a member of the National Foundation for Credit Counseling (NFCC), the Association of Independent Consumer Credit Counseling Agencies (AICCCA), and is accredited by the Council on Accreditation (COA).

Contact: Media Relations
InCharge® Debt Solutions
(407) 532-5599
mediarelations@incharge.org

http://www.InCharge.org

Loan Fees Scam Alert

An online financial scam is using a similar name and the former address of a legitimate, licensed Pennsylvania company to solicit money from consumers under the guise of advance fees, the Department of Banking warned today.

The department has received complaints regarding the so-called Central Lending Group, which claims to offer low-interest, unsecured loans and solicits advance fees from consumers.  However, there is no company by this name licensed by the Department of Banking. Additionally, a company of this name is not located at the Yardley mailing address provided on their website.

The department does license a company called Central Lending Services, which was formerly located in Yardley and is now located in Fairless Hills. Central Lending Services is not accused of any wrongdoing.

In all reported cases, consumers were asked to send money otherwise known as advance fees to the illegitimate lender prior to receiving a loan. Advance fee loan scams typically target individuals with poor credit histories using promises of guaranteed approvals and no credit checks. After being “approved,” the victim is asked to pay a fee in order to receive their loans. Ultimately, the scammer pockets the fee and the victim receives nothing.

The scammer’s website, which is hosted in Canada, contains an electronic loan application that requires payment of an application fee and requests personal information, including bank account numbers, which can potentially be used to withdraw additional funds from a victim’s accounts.

Victims of these or any other advance fee loan scams are urged to notify the Pennsylvania Department of Banking at 1-800-PA-BANKS (1-800-722-2657).

The Department of Banking urges consumers to “do their homework” before entering into business with any financial company. Consumers can learn about companies licensed or chartered by the Department of Banking at www.banking.state.pa.us and 1-800-PA-BANKS (1-800-722-2657).

Media contact: Ed Novak, 717-783-4721

http://www.state.pa.us

Credit Card Rewards: Here’s the Best Deals

Credit Card Rewards

Credit Card Rewards-Image via Wikipedia

DailyMarkets.com, a leading consumer finance website that is based in New York, has released its guide to the best Credit Card Rewards for 2011.

“We often receive emails from US consumers seeking advice on finding the right rewards card for them,” says DailyMarkets.com founder and CEO, Grace Cheng. “As the economic climate improves in the US, credit card issuers have improved their deals and there is now a very wide selection of credit card rewards available to consumers.”

Rewards credit cards appeal to many people because they get rewarded simply for using their rewards card when they make ordinary purchases. Many credit cards also offer incentives like cash, air miles, free hotel nights, free air tickets or electronic products to get people to sign-up for the card.

DailyMarkets.com, with its access to a huge database of the latest credit card offers in the US, has compiled the best credit cards to suit different lifestyles and needs.

Here’s a list of the best credit card rewards sorted in different categories:

  • Cash back cards – While many cash back cards give a 1% cash back, DailyMarkets.com lists a few cards that offer 5% cash back in its Credit Card Rewards guide.
  • Travel rewards cards specific to certain airlines or hotels – DailyMarkets.com lists airline cards offering free round-trip air tickets as a signing incentive, and also hotel cards offering up to four free hotel nights for new sign-ups.
  • Non-specific travel rewards cards that let users earn reward points or miles whenever they spend on the card.
  • Rewards cards with long 0% balance transfers – For people who wish to have a rewards card with a long period of 0% introductory APR on balance transfers, DailyMarkets.com has found just the right card for that.
  • Business credit cards with rewards – Not only do business owners get rewards in return for their business spending, they also get useful tools which can help them manage their finances.
  • High-end rewards cards – DailyMarkets.com lists the world’s most exclusive credit cards for affluent consumers who have excellent credit.

To reap the full benefits of rewards credit cards, consumers should always pay off their card balance each month.

“If you have good to excellent credit, and can afford to pay off your balance in full every month, you should definitely get a rewards card to help you save even more money. Our Credit Card Rewards guide will show you which are the best rewards cards for different lifestyles, and when you click ‘Apply Now,’ we send you off to the official issuer’s website,” says Grace Cheng.

In its goal to become a number one source of information on credit cards, DailyMarkets.com also has a Credit Card Reviews section where consumers can read detailed reviews of any of the cards in the section, and also see how each card is rated.

About DailyMarkets.com

DailyMarkets.com is a consumer finance site founded in 2008 by Grace Cheng who was named as one of the ‘new kids in cyberspace’ by Financial Times in 2007. In addition to educating consumers about investing and trading, DailyMarkets.com is also dedicated to helping consumers understand more about credit cards and helping them find the best credit card for their needs. Its comprehensive credit card section is perfect for consumers to browse through the different categories of credit card offers. You can also check out DailyMarkets.com’s list of Best Credit Cards 2011. For more information, visit DailyMarkets.com.

CONTACT: Pedro Pla, +1-646-755-9754

Web Site: http://www.dailymarkets.com

Credit Card Rewards Guide Released

Credit Card Rewards Guide Released

Credit Card Rewards Guide Released-Image via Wikipedia

Credit card issuers are launching more and more credit card rewards promotions, but which are best for consumers? DailyMarkets.com reads the fine print and lets consumers know the pros and cons of each rewards credit card in its new rewards credit card guide.

DailyMarkets.com, a leading consumer finance website that is based in New York, has released its guide to the best Credit Card Rewards for 2011.

“We often receive emails from US consumers seeking advice on finding the right rewards card for them,” says DailyMarkets.com founder and CEO, Grace Cheng. “As the economic climate improves in the US, credit card issuers have improved their deals and there is now a very wide selection of credit card rewards available to consumers.”

Rewards credit cards appeal to many people because they get rewarded simply for using their rewards card when they make ordinary purchases, whether at the supermarket or just using their credit card to pay recurring utility bills. A rewards card may give you hundreds of dollars worth of freebies if you use your card. Many credit cards offer incentives like cash, air miles, free hotel nights, free air tickets or electronic products to get people to sign-up for the card. DailyMarkets.com, with its access to a huge database of the latest credit card offers in the US, has compiled the best credit cards to suit different lifestyles and needs.

Here’s a list of the best credit card rewards sorted in different categories:

  • Cash back cards – These are credit cards that will appeal to savvy shoppers as they give you back a certain percentage of what you’ve spent in the form of cash rebates, which in effect are discounts. While many cash back cards give a 1% cash back, DailyMarkets.com lists a few cards that offer 5% cash back in its Credit Card Rewards guide.
  • Travel rewards cards specific to certain airlines or hotels – These are credit cards co-branded with certain airlines and hotels offering travel-related rewards to people who use the card, even on everyday type of purchases. In the Credit Card Rewards guide, DailyMarkets.com lists certain airline cards offering free round-trip air tickets as a signing incentive, and also certain hotel cards offering up to four free hotel nights as a bonus for first-time cardmembers.
  • Non-specific travel rewards cards – These are credit cards not affiliated to any specific airline or hotel, offering travel rewards to users. Users get reward points or miles whenever they spend on the card and when they have enough points or miles, they can be redeemed for air tickets, hotel accommodation, car rentals or other non travel-related rewards such as gift cards, merchandise or even cash. DailyMarkets.com reveals the most flexible travel rewards card in the guide.
  • Rewards cards with long 0% balance transfers – For people who wish to have a rewards card with a long period of 0% introductory APR on balance transfers, DailyMarkets.com has found just the right card for that.
  • Business credit cards with rewards – Business owners should take advantage of business rewards cards because not only do they get rewards in return for their business spending, they also get useful tools included in business cards which can help them manage their expenses and finances in a more organized way.
  • Upscale rewards cards – These are cards targeted at affluent consumers who have excellent credit score. DailyMarkets.com lists the world’s most exclusive credit cards, along with the benefits each card has.

To reap the full benefits of rewards credit cards, consumers should always pay off their card balance each month so that they do not fall into the trap of having to pay interest on any owed balance.

One of the main reasons why credit card companies are so keen to sweeten the deal for consumers is that they are hoping more people will become their customers, and that many of them will fail to repay their balance in full every month, thus incurring interest, which translates into money in the pocket for the card issuers.

“If you have good to excellent credit, and can afford to pay off your balance in full every month, you should definitely get a rewards card to help you save even more money. Our Credit Card Rewards guide will show you which are the best rewards cards for different lifestyles, and when you click ‘Apply Now’, we send you off to the official issuer’s website,” says Grace Cheng.

In its goal to become a number one source of information on credit cards, DailyMarkets.com also has a Credit Card Reviews section where consumers can read detailed reviews of any of the cards in the section, and also see how each card is rated. Consumers can also make use of DailyMarkets.com’s smart Credit Card Search Wizard, which sorts through hundreds of the latest credit card offers in the US, to find the perfect card for their individual needs. To enhance users’ search experience, users can filter cards by the best rewards, lowest APR, lowest balance transfer costs or others, and a list of the latest credit card offers matching their search criteria will appear instantly.

About DailyMarkets.com
DailyMarkets.com is a consumer finance site founded in 2008 by Grace Cheng who was named as one of the ‘new kids in cyberspace’ by Financial Times in 2007. In addition to educating consumers about investing and trading, DailyMarkets.com is also dedicated to helping consumers understand more about credit cards and helping them find the best credit card for their needs. Its comprehensive credit card section is perfect for consumers to browse through the different categories of credit card offers such as 0% balance transfer cards, rewards credit cards, business credit cards, and many others – all of which are direct from banks and card issuers themselves. You can also check out DailyMarkets.com’s list of Best Credit Cards 2011. For more information, visit DailyMarkets.com.

Small Business Owners Get Coupon Widget Platform

Digital couponing has exploded over the past several years as consumers have gone back to more frugal shopping habits.

Rockfish (http://rockfi.sh) announced today the launch of CouponFactory, a turnkey couponing software platform that gives businesses the ability to easily create, customize and place their coupon widget wherever they choose.
CouponFactory is a simple, affordable digital couponing platform with a flexible interface that is a better solution for companies and consumers alike. For brands, retailers and small businesses, CouponFactory’s solution provides:

1.    Easy-to-use, turnkey web solution
2.    Customer data collection
3.    No set-up fees
4.    Detailed digital coupon analytics
5.    Coupon fraud control
6.    Mobile, web and social embed options

CouponFactory also provides a superior consumer experience including:

  • No 3rd party redirects
  • No downloading printing software
  • Simple, 2-click print

“Digital couponing has exploded over the past several years as consumers have gone back to more frugal shopping habits,” said Wade Allen, VP of Rockfish Retail. “Many CPGs, retailers, and small businesses have been unable to fully participate due to costs, fraud, and poor customer experience. CouponFactory was built specifically to resolve these issues for businesses and consumers alike.”

Premiering at the In-Store Marketing Summit in Chicago, CouponFactory has already been tested by leading national brands such as White Cloud to distribute offers through various forms of digital media.

“This breakthrough technology allows our Brand Advocate bloggers to embed a ‘widget’ into their blogs with very little effort, allowing their followers to print White Cloud coupons directly from their site without having to be redirected to a third-party site,” said John McPherson, White Cloud’s Director of Marketing.

For more information or to sign up, go to http://www.couponfactory.com/news

Health Care Reform Brings New Financial Opportunities

Health Care Reform Brings New Financial Opportunities-Image via Wikipedia

One year after health care reform becomes law, Deloitte uncovers multiple opportunities to expand products and services to help consumers and corporate clients manage rising health care costs

A new Deloitte study finds that as a consequence of hidden health care-related costs, consumers have significantly less discretionary spending power than previously thought, creating a potentially significant growth opportunity for financial institutions — if they sharpen their consumer and corporate-client strategies in this area.

Chief among the implications is how this increase will change consumers’ spending patterns, income and creditworthiness in the coming years. Consumers concerned about the cost of health care are already acting to avoid higher exposure to health care expense burdens, the study finds.

“The ability of the U.S. economy to recover will be affected in part by how much consumers have in their pockets to spend; the more spent on health, the less is available to boost other sectors, including financial services,” said Andrew Freeman, executive director of the Deloitte Center for Financial Services.

“For financial institutions searching for growth in any place they can find it, health care offers real potential to increase revenue,” said Freeman. “With greater insight into how and where consumers are spending their money, banks and insurers can consider product innovations, as well as savings and credit products, linked to different aspects of consumer trends in health care.”

The study finds – almost one year after health care reform was signed into law – that there is more than $363 billion in hidden health care costs than traditionally reported in official government accounts. These hidden costs are attributed to expenditures that fall outside of traditional areas such as doctors, drug prescriptions, hospitals and insurance coverage. This represents an additional 14.7 percent of health care spending that was not previously captured in the National Health Expenditure Accounts data. More than half of the additional spending is the result of the estimated value of supervisory care, or care given by unpaid relatives and friends.

The additional costs captured in the new Deloitte study support an increase in consumer discretionary spending on health care from 16.2 percent – for items traditionally reported by the government – to 19.9 percent, which surpasses housing and utility costs at 18.8 percent.

“The health care and financial services industries are more connected than many realize — if their fortunes are not joined at the hip, then they are certainly very close,” said Paul Keckley, Ph.D., executive director of the Deloitte Center for Health Solutions. “Banks and other payment processors are also vital parts of the system and face daunting competitive challenges as technology brings new methods for handling consumers’ medical records and new opportunities for non-banks to deliver mobile electronic payments at the point of service or sale.”

Additional implications for financial institutions include:

  • Maximizing Strategic Lending Opportunities into the Health Care Industry: The future costs associated with supervisory care in particular have the potential to be substantial, according to the study. In order to build successful lending pipelines, financial institutions may need a  better understanding of  the effects of these unforeseen costs on the 18 distinct health care sectors, as well as any associated revenue challenges that could come from annuity-like third-party payments such as Medicare, Medicaid, and commercial insurance in the future.
  • An Opportunity to Counsel Health Care Suppliers and New Entrants: Delving deeper into the $2.5 trillion spent annually for the health care system, an estimated one-third of total expenditures goes to suppliers to the health care industry, including manufacturers and retailers. A number of leading companies from other industries are also looking at making inroads into the industry. Each will likely need investment banking, cash management and line of credit services from banks in order to support new strategies and increasing costs.
  • New Strategies for Insurers: With this shift, insurers may have to work harder to educate consumers about the value of life insurance, disability and retirement products to overcome the perception that they are “discretionary” at a time when higher out-of-pocket medical costs are shrinking disposable income. In addition, insurers will likely have to be more innovative and flexible to sell non-mandatory products; for example, offering long-term care options to more traditional life insurance policies.
  • Growth via Cost Reduction: Disparate systems and a lack of technology standards are limiting the progress towards “electronification” of medical claims and payment processes. Banks should consider developing innovations and technologies to help organizations eliminate manual processes, improve disconnected systems/workflows for both payers and providers and how to speed up treasury services and the payment cycle. Related areas to consider include enhanced and alternative distribution channels and revised pricing models.

Among the study’s most significant findings:

  • In 2009, the country’s total health expenditure was $2.83 trillion.
  • Approximately 80 percent of supervisory care’s total costs ($161 billion) fell on people with family incomes of less than $50,000, the median household income in the U.S.
  • Seniors account for 36 percent ($1.01 trillion) of total health care expenditures, but are only 13 percent of the population.

The Deloitte report, “The Hidden Costs of U.S. Health Care for Consumers: A Comprehensive Analysis,” was conducted by Deloitte’s Center for Health Solutions and Center for Financial Services to gauge the total costs consumers actually spend on health care products and services, beyond what is typically paid by insurers and other government sources, such as Medicare and Medicaid. A copy of the overall study – including some of the financial services implications – is available on Deloitte’s website at www.deloitte.com/us/consumerhealthspending.

Methodology

In this study, the most recently available NHEA data (2008) was projected for 2009. Information drawn from a variety of sources was used to produce estimates of health expenditure in identified additional areas. Information from the Medical Expenditure Panel Survey (MEPS) was used to develop estimates of expenditure by family size and income. When combined, a dataset was produced which represented a broader picture of the health sector in 2009. This final dataset estimated total health expenditure by payment source, age group, family income and family size for each health service area.

As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

Contact: Chris Faile Liz Cheek
Public Relations Hill & Knowlton
Deloitte +1 212 885 0682
+1 212 436 5170 elizabeth.cheek@hillandknowlton.com
cfaile@deloitte.com

Web Site: http://www.deloitte.com/us/about

LoanExplorer delivers interactive loan shopping experience; offers lenders advanced targeting capabilities.

LendingTree, LLC, the nation’s number one online lending exchange, announced today at the LendingTree Partner Summit the introduction of an advanced second generation loan marketplace, called LoanExplorer. LoanExplorer is an all-in-one mortgage pricing solution designed specifically for consumers, lenders and publishers.

With LoanExplorer, consumers can access a real-time, informative mortgage shopping experience, by anonymously comparing loan product details, costs and rates based on their individual financial situation. Borrowers can then choose to connect with the lenders that match their needs electronically or by an 800# call.

For lender partners, LoanExplorer will deliver informed and motivated borrowers, thereby enhancing conversion rates. Lenders will be able to display their brand, products and services along with rates and fees that are relevant to the consumer’s requirements. LoanExplorer will also offer lenders multi-channel media exposure for broad consumer reach and advanced offer targeting.

“This tool will dramatically improve customer acquisition economics for lenders,” said Bruce Cook, Vice President of Business Development for LendingTree. “What’s more, media partners and publishers should dramatically improve the monetization of their site traffic with this content advertising. LoanExplorer will provide a superior comparative learning experience that we believe will result in higher visitor satisfaction, longer site visits and the highest revenue in the category. And the consumer will never leave the media partner’s web site.”

LoanExplorer is powered by a world-class automated loan pricing engine with comprehensive real-time product eligibility execution.

“Media is becoming personal,” said Doug Lebda, CEO of LendingTree. “As the leading online lending exchange, we are committed to advertising that is more relevant to our core consumers and offers better distribution of our lender partner’s products. Borrowers today are seeking a personalized loan shopping experience. LoanExplorer loan marketplace accomplishes this, putting control of the mortgage shopping process in consumers’ hands while providing lenders and media partners with improved results.”

For more information, please contact Bruce Cook at bruce.cook@lendingtree.com.

About LendingTree, LLC

LendingTree, LLC is the nation’s leading online lender exchange and personal finance resource, helping consumers take charge of all their financial decisions, from budgeting to money management to mortgages to credit cards and more. LendingTree provides a marketplace that connects consumers with multiple lenders that compete for their business, as well as an array of online tools to aid consumers in their financial decisions. Since inception, LendingTree has facilitated more than 28 million loan requests and $214 billion in closed loan transactions. LendingTree provides access to lenders offering mortgages and refinance loans, home equity loans/lines of credit, and more. LendingTree, LLC is a subsidiary of Tree.com, Inc. (Nasdaq: TREE). For more information go to www.lendingtree.com, dial 800-555-TREE, join our Facebook page and/or follow us on Twitter @LendingTree.

MEDIA CONTACT:
Nicole Hall
(704) 943-8463
Nicole.hall@tree.com

RELATED LINKShttp://www.lendingtree.com

 Page 1 of 2  1  2 »