LendingTree Infringed Mortgage Tech Patent: Jury

Law360, New York (January 24, 2006, 12:00 AM EST) -- Mortgage technology company IMX Inc. has prevailed in its patent infringement lawsuit against rival LendingTree LLC, which claims to have pioneered the marketplace for online mortgages.

IMX sued North Carolina-based LendingTree in November 2003 in the U.S. District Court for the District of Delaware, accusing the company of willfully infringing its patent for connecting borrowers with lenders over the Internet.

The jury agreed with IMX. Along with its verdict of willful infringement, the jury awarded IMX nearly $5.8 million in damages. There’s a great possibility the...
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