After months of delay, Tree.com has set a date for the sale of its mortgage origination business to Discover Financial, the Charlotte company announced Thursday.
The deal, announced a year ago, is now set to close June 6.
Tree.com is the parent of LendingTree, a site that allows customers to get multiple offers on mortgage and other loans, and the company also owns a number of other lead generation businesses. The company launched its own mortgage originator, called the Home Loan Center, in 2002.
Under the terms of the deal renegotiated in February, Discover will pay $42.9 million at closing and $10 million on the first anniversary. It was already scheduled to pay $3 million on March 7.