Tree.com Extends PNC Bank Mortgage Warehouse Line
CHARLOTTE, N.C., Dec 28, 2009 (GlobeNewswire via COMTEX) -- By Staff
Tree.com, Inc. (Nasdaq:TREE) today announced that it has entered into a limited extension of its $50mm mortgage warehouse line at its LendingTree Loans operation in Irvine, CA. PNC Bank had previously announced that it was exiting the warehouse business and existing warehouse lines would expire at the end of their current terms. The facility had an original term running through December 29, 2009 and is now available for funding newly originated Agency and FHA loans through March 31, 2010.
Matt Packey, Tree.com's CFO, stated, "This brief extension, coupled with our two other warehouse lines, enables us to maintain flexibility as we evaluate our longer-term needs and options with respect to our warehouse capacity requirements."
About Tree.com, Inc.
Tree.com, Inc. (Nasdaq:TREE) is the parent of several brands and businesses in the financial services and real estate industries including LendingTree(R), LendingTree Loans(SM), GetSmart(R), Home Loan Center, RealEstate.com, InsuranceTree.com and LendingTree Autos. Together, they serve as an ally for consumers who are looking to comparison shop loans, real estate and other financial products from multiple businesses and professionals who compete for their business.
Tree.com, Inc. is headquartered in Charlotte, N.C. and maintains operations solely in the United States. For more information, please visit www.tree.com.
The Tree.com, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5367
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Tree.com, Inc.
CONTACT: Tree.com, Inc. Investor Relations 877-640-4856 tree.com-investor.relations@tree.com
Copyright (C) 2010 GlobeNewswire. All rights reserved
News Provided by COMTEX
Related terms: business, california, mortgage, nasdaq, real estate
