LendingTree Mortgage Credit Accessibility Report Indicates Increased Credit
Availability in August
CHARLOTTE, N.C., Sept. 25, 2013
CHARLOTTE, N.C., Sept. 25, 2013 /PRNewswire/ -- LendingTree, the nation's
leading online source for competitive mortgage offers, today announced the
release of LendingTree's Credit Accessibility Report. This report, measured
monthly, measures the likelihood of borrowers gaining access to credit for
home loans based on LendingTree data.
According to the report, the average accessibility score for the US was 106 in
August, compared to 103 in July and 100 in June, indicating that borrowers had
an easier time accessing mortgage credit in August compared to prior months.
The Credit Accessibility score is benchmarked at 100, using data from the full
year of 2012.
"Over the past few years, potential borrowers may have found it difficult to
get approved for a loan. But as home prices rise, refinance activity slows
and government programs change, potential borrowers are finding it easier to
gain access to credit," said Doug Lebda, founder and CEO of LendingTree.
"Lenders are easing down payment and credit score requirements while still
adhering to conforming loan guidelines. And as the private securitization
market starts to bounce back, borrowers who didn't qualify in the past may now
have that opportunity."
About LendingTree, LLC
LendingTree, LLC is the nation's leading online source for competitive home
loan offers, empowering consumers during the mortgage, refinance or auto loan
process. LendingTree provides an online marketplace which connects consumers
with multiple lenders that compete for their business, as well as an array of
online tools and information to help consumers find the best loan. Since
inception, LendingTree has facilitated more than 30 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.
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