LendingTree reaches settlement in patent infringement suit

Charlotte-based LendingTree and its parent company Tree.com announced that a settlement has been reached in the company's patent infringement lawsuit against QuinStreet, Inc..

QuinStreet, which operates GuideToLenders.com and HSH.com, will now license LendingTree's technology and no longer question its patent, according to a news release.

LendingTree owns a patent it claims gives it the right to a system that allows people to fill out a single loan application online and have different mortgage companies bid on their business.

The company sued a number of other firms that later started similar loan-matching websites in 2010, and settled with Leadpoint last year. Suits are still pending against Zillow, Adchemy, and Nextag, which all operate similar systems. A trial is scheduled for 2014.

LendingTree has found itself on the other end of patent suits in recent years. In 2010, it paid Source Search Technologies LLC about $9.5 million to settle claims that LendingTree infringed on SST's online transaction patents.