"Lebda launched LendingTree, which was originally called CreditSource USA, in 1996, following his own frustrating experience navigating the mortgage process. The company pioneered online loan comparison shopping and now connects users with a network of 300 lenders for mortgages and personal loans. LendingTree doesn't offer loans directly, but it helps consumers compare rates. On September 26, a few weeks before his passing, he appeared on "The Deal Ranch,", a finance and real estate podcast hosted by Matt Lutz, to share his experiences as a founder."
"Lebda said that "wet feet" moments - instances of personal inconveniences - tend to spur entrepreneurial ideas. Lebda was working for PwC when he needed to visit the bank to obtain a mortgage for a condo. However, in the pre-Internet era, Lebda said his journey to obtain an ideal rate was difficult because he had to physically visit each bank to compare rates, and the rates were often not the same as advertised in the newspapers."
Doug Lebda died at 55 in an ATV accident. He founded LendingTree in 1996 as CreditSource USA after a frustrating mortgage experience. LendingTree pioneered online loan comparison shopping and now connects users with a network of 300 lenders for mortgages and personal loans. LendingTree does not originate loans but helps consumers compare rates. Lebda appeared on a finance and real estate podcast shortly before his death to share founding lessons. He emphasized maximizing 'wet feet' moments—personal inconveniences that reveal business opportunities—and described how manual mortgage shopping and automated commodity trading inspired the platform.
Read at Business Insider
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