CHARLOTTE, N.C. -- LendingTree Inc. is expected to announce today that the $45 million financing package announced last week includes $2.5 million from Freddie Mac.
The investment adds to Freddie's strategic partnership with LendingTree, which was announced last July. The companies have integrated LendingTree's Lend-X loan exchange technology with Freddie Mac's Loan Prospector, its automated underwriting system.
"Freddie Mac's decision to join forces with the team of recent investors confirms their belief in LendingTree's business model, management team, and traction in the marketplace," Doug Lebda, chief executive and founder of LendingTree, said in a statement. "Freddie Mac's strategic and financial support acknowledges LendingTree's ability to deliver value to consumers, lenders and strategic partners."