Welcome to our dedicated page for Lendingtree news (Ticker: TREE), a resource for investors and traders seeking the latest updates and insights on Lendingtree stock.
LendingTree, Inc. operates LendingTree.com, an online financial services marketplace that connects U.S. consumers with offers for loans, credit cards, insurance and related financial products through a network of financial partners. Its business is reported through Home, Consumer and Insurance segments, with revenue tied to marketplace referrals, partner demand and completed financial-product transactions.
Company news commonly covers quarterly results, variable marketing margin, adjusted EBITDA, segment performance and the role of the Insurance marketplace in revenue growth. Updates also address mortgage and housing policy, consumer-permissioned lead generation, home equity activity, credit-product demand, leadership appointments and governance changes affecting the company’s marketplace operations.
LendingTree, the leading online loan marketplace based in Charlotte, NC, announced new features for the My LendingTree app on September 29, 2020. Users can now connect checking and savings accounts from over 11,000 financial institutions through Plaid, enabling a comprehensive view of their financial profile. This integration allows for cash flow analysis, budgeting tools, and transaction history management in one platform, enhancing consumer financial management. Key offerings include budget tracking, monthly spending comparisons, and expense summaries.
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According to a recent ValuePenguin survey, 60% of Americans postponed medical appointments during the COVID-19 pandemic, primarily to avoid virus exposure. Additionally, 50% reported going a day or more without necessary medications, with 30.1% citing stock shortages and 21% due to mail delays. Concerns over healthcare access surged, with 31% worried about long wait times. The survey, conducted from Sept. 11-14, 2020, included 1,028 respondents, revealing significant impacts of the pandemic on health behaviors.
On Sept. 22, 2020, QuoteWizard, a LendingTree company, released a report detailing the significant impact of the COVID-19 pandemic on healthcare spending. The report highlights a staggering 43% drop in hospital spending and 37% decline for physician offices in April. Furthermore, the American Hospital Association projects a total loss of $323.1 billion for 2020. As a result, rural hospitals face increased closure risks, with 12 closures already reported in the first half of the year. Overall, the pandemic has compounded financial challenges for healthcare providers.
According to a recent survey by CompareCards, only 33% of Americans checked their credit reports in the past year, down from 39% in 2019 and 37% in 2018. Alarmingly, just 20% of individuals aged 75 and older reviewed their credit reports, increasing their vulnerability to fraud. Although consumers report heightened concern about identity theft, actions to mitigate risks have decreased. 47% of cardholders faced data breaches, with many unprepared despite available resources for credit monitoring. The survey indicates that pandemic-related distractions may contribute to reduced vigilance in protecting personal information.
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QuoteWizard, a LendingTree company, released a report detailing how top health insurers have reported record profits during the COVID-19 pandemic. Companies like UnitedHealth Group, Humana, and Anthem experienced billion-dollar profits in Q2 2020, doubling year-over-year. Despite rising unemployment and healthcare challenges, these insurers thrived, with United Healthcare reporting a medical loss ratio of 70.2%. The report also highlights significant increases in employer health care premiums, which rose by 57% since 2009, averaging $7,459 annually.
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According to a survey by ValuePenguin.com, part of LendingTree (NASDAQ: TREE), 30% of Americans with vehicles have halted their commutes due to COVID-19, with 19% working from home and 10% laid off. As of August 2020, 26% have resumed daily commutes. The survey indicates a significant drop in weekly gas purchases, down 26%. Moreover, over a quarter of drivers adjusted their auto insurance to save costs. Notably, 16% of respondents ceased rideshare usage entirely. The survey, conducted on 1,105 Americans, reflects changing driving habits in response to the pandemic.