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.
