Tree.com Inc. has entered into a limited extension of its $50 million mortgage warehouse line at its LendingTree Loans operation in Irvine, Calif. One of its warehouse line providers, PNC Bank, had previously said it was exiting the warehouse business and existing lines would expire at the end of their current terms. The Tree.com facility had an original term running through Dec. 29, 2009 and is now available for funding newly originated agency and FHA loans through March 31, 2010. Matt Packey, Tree.com's CFO, stated, "This brief extension, coupled with our two other warehouse lines, enables us to maintain flexibility as we evaluate our longer-term needs and options with respect to our warehouse capacity requirements."
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