Google to struggle on loan referrals  

Wednesday, August 26, 2009

GoogleLending Tree, which allows potential borrowers to get quick offers from several lenders, claims Google is about to get into the same business.

A Lending Tree court case against a separate technology provider claims that it has educated Google plans to launch such a service later this month or in early September. The lawsuit claims that Lending Tree has received screen shots i.e. pictures of a computer screen, it showing a trial version of Google's service that point out Google will give customers loan offers and contact information for lenders.

The company said that “We have numerous experiments going on at any one time, but we don't wonder on future product development”. Google has made several steps that guide it away from its core business of selling ads alongside Internet search results. Last month it changed its popular Google Maps page to emphasize its real estate search tools.

Other experiments have included an OS for mobile devices, and Google Voice, which gives public an additional phone number that is not tied to any one phone line. Earlier this year it revealed a PowerMeter that home owners can use to track energy use. An analyst said that Google's move into the lending referral business would be one more step away from its core business. It could symbolize a solid threat to Lending Tree and an interruption for Google.