Alphabet is officially in the mortgage business. This week, Google launched a mortgage shopping tool for California homebuyers. The company says that platforms will soon be available for buyers in other states as well.
What kind of disruptive impact will Google’s new platform have on marketplace mortgage lenders like LendingTree? According to BWS Financial analyst Hamed Khorsand, Google’s disruption might not be too bad, at least initially.
About The Product
Google’s mortgage comparison tool will provide a similar service to its existing auto insurance comparison tool. Google has announced that it will be partnering with LendingTree and Zillow Group, Inc. ZG 1.5% to pull data from the two lenders’ marketplaces.
Good News For LendingTree?
While it might seem counterintuitive that Google’s entry into the space could be good news for LendingTree, Khorsand argues…
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