LendingTree Buys Online Mortgage Lender

LendingTree Inc., Charlotte, N.C., has acquired HomeLoanCenter.com, an Internet direct mortgage lender based in Irvine, Calif.The terms of the deal were not disclosed. The transaction is expected to close within 90 to 120 days. "This acquisition will help us increase our profit per customer, have greater input over the consumer experience, more efficiently cross-sell our offering, and gain market share," said LendingTree founder and chief executive officer Doug Lebda. HLC founder and CEO Anthony Hsieh called the deal "a win for consumers" and, along with company president Tomo Yebisu, he will remain with the company. LendingTree can be found on the Web at http://www.lendingtree.com.