Tree.com has obtained a $100 million warehouse line of credit from Credit Suisse First Boston Mortgage Capital LLC, the second $100 million line the company has obtained in the past 90 days, said its chairman and chief executive Doug Lebda.
The line expires on Jan. 4, 2013 or 45 days following the closing of the sale of LendingTree Loans, which does business as Home Loan Center. Other terms of the transaction were not disclosed.
According to a Securities and Exchange Commission filing, HLC is required to maintain warehouse capacity from other providers in an aggregate amount of at least $100 million.
Borrowings under the facility are guaranteed by Tree.com, LendingTree Holdings Corp. and LendingTree LLC.
Back in October, Tree.com got a $100 million warehouse line from Citibank NA which had been contracted to expire on Dec. 13, 2011. That line is now scheduled to terminate on Jan. 20, following an extension reached in December, a separate SEC filing reported.
HLC is in the process of being sold by Tree.com to Discover Bank.
