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Fly News Breaks for February 5, 2018
JPM, TREE
Feb 5, 2018 | 08:53 EDT
BWS Financial analyst Hamed Khorsand reports that LendingTree (TREE) has lost JPMorgan Chase (JPM) as a mortgage lending customer, calling it the company's second "high-profile" mortgage lender loss in about a quarter. The loss of JPMorgan matters both because of how many loans it originates but also due to the read-through that the loss has on the concept of LendingTree's calling center adding value for the lender, according to Khorsand, who keeps a Sell rating and $194 price target on LendingTree shares.
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