Google to compete with LendingTree soon?

LendingTree says they know that Google is about to launch a competing service that will allow you to get offers from lenders, directly from search results.

This information was revealed during a lawsuit between LendingTree and one of their partners. They say they have screen shots and pictures showing the competing Google service.

In response to this allegation, Google offered up a rare written statement which confirms they have been working on such a project to at least some degree.

Google Inc. issued a written statement Wednesday saying it is "working on a small ad unit test" involving a limited number of mortgage-related searches. AP

I don't think it's going to cause LendingTree as much trouble as they are making it sound -- but either way, competition is good.

The new service is said to be available later this month, or in early September -- so keep your eyes peeled.