LendingTree, Inc. - TREE STOCK NEWS

According to a recent LendingTree survey, Valentine's Day spending is set to rise by 44% this year, with couples planning to spend an average of $208. This increase follows a dip during the pandemic. Notably, spending peaks at $247 among couples together for one to two years. A significant portion of consumers (30%) anticipate incurring credit card debt due to this spending, with dining out gaining popularity—37% of couples opting for a special dinner out compared to 26% last year. The survey highlights a renewed enthusiasm for Valentine's Day celebrations.

LendingTree, a leading online financial services marketplace, has launched TreeQual, an automated pre-approval platform. This initiative aims to enhance consumer access to financial products by collaborating with founding partners Mercury Financial, Avant, and Ally Credit Card. TreeQual enables lenders to identify qualified members efficiently, allowing users to compare pre-approved offers confidently. The platform enhances the user experience while delivering high-quality consumers to partners. As a result, LendingTree reinforces its mission of advocating for consumers in financial services.

LendingTree released a study revealing 88% of Americans spend on items to boost happiness, with travel and food leading at 45%. Notably, 43% have incurred debt for happiness pursuits, and 33% believe money brings more happiness than love. However, 54% of respondents found that these purchases only offered temporary relief. Higher-income individuals are more likely to think money can buy happiness, especially post-pandemic, with 19% believing it fully buys happiness. The survey involved 2,102 U.S. consumers conducted by Qualtrics.

LendingTree (NASDAQ: TREE) announces the appointment of Shiv Singh as Chief Marketing & Customer Experience Officer, marking a significant leadership change. Singh joins from Expedia Group, where he enhanced brand loyalty. This transition follows the upcoming departure of Neil Salvage, LendingTree's President of Marketplace. J.D. Moriarty is set to replace him, while Jorge de Castro expands his role to enhance the My LendingTree platform. The reorganization aims to centralize operations and bolster the company’s digital marketing efforts, aligning with its goal of becoming a leading consumer-focused financial services marketplace.

LendingTree released a study identifying the best places to pay down debt in 2022, with Raleigh, North Carolina ranking first. The study examined 100 U.S. metropolitan areas based on five metrics, including average credit utilization and unemployment rates. Notably, North Carolina has three cities in the top 10, including Durham (4th) and Winston-Salem (6th). In contrast, Honolulu and five cities in California were identified as the worst locations for debt reduction. These findings aim to empower consumers in making informed financial decisions.

LendingTree, a leading online financial services marketplace, will host a virtual Analyst and Investor Event on February 02, 2022, at 10:00 a.m. ET. Senior management, including CEO Doug Lebda, will discuss the outlook for fiscal year 2022 and key strategic priorities. The event will be webcast live, with materials available on their Investor Relations website. LendingTree connects consumers to over 500 partners for various financial services, offering tools for better financial decision-making.

According to ValuePenguin's report published on January 5, 2022, auto insurance rates are projected to rise by 0.6% in 2022, with the average cost reaching $1,935 annually. 22 states will experience increases, with Nebraska (4.4%), Minnesota (2.5%), and Arizona (2.2%) seeing the highest raises. Unsafe drivers face up to 55% greater premiums, with Texas drivers facing a 142% hike for infractions. Despite these increases, rates remain below pre-pandemic levels, and 76% of consumers who shop around save money.

As reported by LendingTree, 36% of Americans incurred holiday debt this season, averaging $1,249, marking an increase from 31% in 2020. Interestingly, this year saw a decrease in the average amount of debt, down 10% from $1,381. Parents and millennials led in borrowing, at 54% and 50% respectively, with an average debt of $1,462. Additionally, nearly 40% used buy now, pay later financing, an increase from last year. Despite the incurred debt, 82% of borrowers do not expect to repay it within a month, indicating ongoing financial challenges.

olive.com, a leader in payment services and vehicle protection plans, has appointed Keith Moore as Executive Advisor to its Board of Directors. Moore, an experienced Insurtech executive, will guide the company's strategic initiatives and marketing efforts to support its expansion. Previously, he led CoverHound and contributed to LendingTree's diversification. His extensive industry background includes founding CyberPolicy and recognition as a Top 50 Insurtech Influencer. This appointment aims to enhance olive.com's customer service and technology-driven solutions.