Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2016	Oct. 24, 2016
Entity Information:
Entity Registrant Name	LendingTree, Inc.
Entity Central Index Key	0001434621
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		11,789,606
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q3

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue	$ 94,558	$ 69,804	$ 283,561	$ 175,875
Costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	3,392	2,436	10,329	6,402
Selling and marketing expense	62,819	48,901	192,416	118,615
General and administrative expense	9,008	7,069	26,820	21,336
Product development	3,718	2,675	11,384	7,238
Depreciation	1,286	764	3,458	2,135
Amortization of intangibles	166	25	263	124
Restructuring and severance	0	28	72	422
Litigation settlements and contingencies	19	133	109	(663)
Total costs and expenses	80,408	62,031	244,851	155,609
Operating income	14,150	7,773	38,710	20,266
Other income (expense):
Interest (expense) income	(141)	(1)	(424)	(63)
Income before income taxes	14,009	7,772	38,286	20,203
Income tax expense	(6,729)	(389)	(15,099)	(968)
Net income from continuing operations	7,280	7,383	23,187	19,235
Loss from discontinued operations, net of tax	(664)	(1,295)	(3,017)	(3,238)
Net income and comprehensive income	$ 6,616	$ 6,088	$ 20,170	$ 15,997
Weighted average shares outstanding:
Basic	11,754	11,445	11,827	11,378
Diluted	12,742	12,489	12,782	12,379
Income per share from continuing operations:
Basic (in dollars per share)	$ 0.62	$ 0.65	$ 1.96	$ 1.69
Diluted (in dollars per share)	0.57	0.59	1.81	1.55
Loss per share from discontinued operations:
Basic (in dollars per share)	(0.06)	(0.11)	(0.26)	(0.28)
Diluted (in dollars per share)	(0.05)	(0.10)	(0.24)	(0.26)
Income per share attributable to common shareholders:
Basic (in dollars per share)	0.56	0.53	1.71	1.41
Diluted (in dollars per share)	$ 0.52	$ 0.49	$ 1.58	$ 1.29

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
ASSETS:
Cash and cash equivalents	$ 176,925	$ 206,975
Restricted cash and cash equivalents	4,091	6,541
Accounts receivable (net of allowance of $1,026 and $606, respectively)	38,185	29,873
Prepaid and other current assets	3,925	2,085
Current assets of discontinued operations	0	110
Total current assets	223,126	245,584
Property and equipment, net	13,399	9,415
Goodwill	4,007	3,632
Intangible assets, net	15,229	10,992
Deferred income tax assets	16,341	20,977
Other non-current assets	855	1,039
Non-current assets of discontinued operations	4,142	4,142
Total assets	277,099	295,781
LIABILITIES:
Accounts payable, trade	2,815	5,741
Accrued expenses and other current liabilities	37,719	34,885
Current liabilities of discontinued operations	11,978	13,401
Total current liabilities	52,512	54,027
Other non-current liabilities	1,753	586
Non-current liabilities of discontinued operations	27	26
Total liabilities	54,292	54,639
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Preferred stock $.01 par value; 5,000,000 shares authorized; none issued or outstanding	0	0
Common stock $.01 par value; 50,000,000 shares authorized; 13,953,351 and 13,865,620 shares issued, respectively, and 11,789,606 and 12,392,093 shares outstanding, respectively	140	139
Additional paid-in capital	1,016,706	1,006,688
Accumulated deficit	(729,954)	(750,124)
Treasury stock 2,163,745 and 1,473,527 shares, respectively	(64,085)	(15,561)
Total shareholders' equity	222,807	241,142
Total liabilities and shareholders' equity	$ 277,099	$ 295,781

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Accounts receivable, allowance (in dollars)	$ 1,026	$ 606
Accumulated depreciation of property and equipment	$ 8,820	$ 6,940
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares	5,000,000	5,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares	50,000,000	50,000,000
Common stock, issued shares	13,953,351	13,865,620
Common stock, outstanding shares	11,789,606	12,392,093
Treasury stock, shares	2,163,745	1,473,527

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - 9 months ended Sep. 30, 2016 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock	Comprehensive Income (Loss)
Balance at Dec. 31, 2015	$ 241,142	$ 139	$ 1,006,688	$ (750,124)	$ (15,561)
Balance (in shares) at Dec. 31, 2015		13,866,000			1,474,000
Increase (Decrease) in Stockholders' Equity
Net income and comprehensive income	20,170			20,170		$ 20,170
Non-cash compensation	$ 7,410		7,410
Purchase of treasury stock (in shares)	690,218				690,000
Purchase of treasury stock	$ (48,524)				$ (48,524)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	(3,092)	$ 1	(3,093)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		87,000
Tax benefit from stock-based award activity	5,701		5,701
Balance at Sep. 30, 2016	$ 222,807	$ 140	$ 1,016,706	$ (729,954)	$ (64,085)
Balance (in shares) at Sep. 30, 2016		13,953,000			2,164,000

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities attributable to continuing operations:
Net income and comprehensive income	$ 20,170	$ 15,997
Less: Loss from discontinued operations, net of tax	3,017	3,238
Net income from continuing operations	23,187	19,235
Adjustments to reconcile income from continuing operations to net cash provided by operating activities attributable to continuing operations:
Loss on disposal of fixed assets	388	102
Amortization of intangibles	263	124
Depreciation	3,458	2,135
Non-cash compensation expense	7,410	6,371
Deferred income taxes	333	0
Excess tax benefit from stock-based award activity	(5,701)	(485)
Bad debt expense	378	236
Amortization of debt issuance costs	183	0
Changes in current assets and liabilities:
Accounts receivable	(8,565)	(11,805)
Prepaid and other current assets	(2,051)	(756)
Accounts payable, accrued expenses and other current liabilities	(5)	15,272
Income taxes payable	13,261	460
Other, net	(645)	(207)
Net cash provided by operating activities attributable to continuing operations	33,184	31,096
Cash flows from investing activities attributable to continuing operations:
Capital expenditures	(8,017)	(4,265)
Acquisition of a business	(4,500)	(37)
Decrease in restricted cash	2,450	95
Net cash used in investing activities attributable to continuing operations	(10,067)	(4,207)
Cash flows from financing activities attributable to continuing operations:
Payments related to net-share settlement of stock-based compensation, net of proceeds from exercise of stock options	(3,093)	(6,127)
Payment of equity offering costs	(23)	0
Payments of debt issuance costs	(8)	0
Excess tax benefit from stock-based award activity	5,701	485
Purchase of treasury stock	(48,524)	(218)
Dividends	0	(105)
Net cash used in financing activities attributable to continuing operations	(45,947)	(5,965)
Total cash (used in) provided by continuing operations	(22,830)	20,924
Net cash used in operating activities attributable to discontinued operations	(7,220)	(885)
Total cash used in discontinued operations	(7,220)	(885)
Net (decrease) increase in cash and cash equivalents	(30,050)	20,039
Cash and cash equivalents at beginning of period	206,975	86,212
Cash and cash equivalents at end of period	$ 176,925	$ 106,251

ORGANIZATION (Note)	9 Months Ended
ORGANIZATION (Note)	Sep. 30, 2016
ORGANIZATION
ORGANIZATION	ORGANIZATION Company Overview LendingTree, Inc. ("LendingTree" or the "Company"), is the parent of LendingTree, LLC and several companies owned by LendingTree, LLC. LendingTree operates what it believes to be the leading online marketplace for consumers seeking a broad array of loan types and other credit-based offerings. The Company offers consumers tools and resources, including free credit scores, that help them to comparison-shop for mortgage loans, home equity, reverse mortgage, auto loans, credit cards, personal loans, student loans and small business loans and other related offerings. The Company primarily seeks to match in-market consumers with multiple lenders on its marketplace who can provide them with competing quotes for the loans or credit-based offerings they are seeking. The Company also serves as a valued partner to lenders seeking an efficient, scalable and flexible source of customer acquisition with directly measurable benefits, by matching the consumer loan inquiries it generates with these lenders. The consolidated financial statements include the accounts of LendingTree and all its wholly-owned entities. Intercompany transactions and accounts have been eliminated. Discontinued Operations The LendingTree Loans business is presented as discontinued operations in the accompanying consolidated balance sheets, consolidated statements of operations and comprehensive income and consolidated cash flows for all periods presented. The notes accompanying these consolidated financial statements reflect the Company's continuing operations and, unless otherwise noted, exclude information related to the discontinued operations. See Note 14 —Discontinued Operations for additional information. Basis of Presentation The accompanying unaudited interim consolidated financial statements as of September 30, 2016 and for the three and nine months ended September 30, 2016 and 2015, respectively, have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). In the opinion of management, the unaudited interim consolidated financial statements have been prepared on the same basis as the audited financial statements, and include all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the Company's financial position for the periods presented. The results for the three and nine months ended September 30, 2016 are not necessarily indicative of the results to be expected for the year ending December 31, 2016, or any other period. The accompanying consolidated balance sheet as of December 31, 2015 was derived from audited financial statements included in the Company's annual report on Form 10-K for the year ended December 31, 2015 (the "2015 Annual Report"). The accompanying consolidated financial statements do not include all of the information and footnotes required by GAAP for annual financial statements. Accordingly, they should be read in conjunction with the audited financial statements and notes thereto included in the 2015 Annual Report.

SIGNIFICANT ACCOUNTING POLICIES (Note)	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Note)	Sep. 30, 2016
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Accounting Estimates Management is required to make certain estimates and assumptions during the preparation of the consolidated financial statements in accordance with GAAP. These estimates and assumptions impact the reported amount of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. They also impact the reported amount of net earnings during any period. Actual results could differ from those estimates. Significant estimates underlying the accompanying consolidated financial statements, including discontinued operations, include: loan loss obligations; the recoverability of long-lived assets, goodwill and intangible assets; the determination of income taxes payable and deferred income taxes, including related valuation allowances; various other allowances, reserves and accruals; and assumptions related to the determination of stock-based compensation. Certain Risks and Concentrations LendingTree's business is subject to certain risks and concentrations including dependence on third-party technology providers, exposure to risks associated with online commerce security and credit card fraud. Financial instruments, which potentially subject the Company to concentration of credit risk at September 30, 2016, consist primarily of cash and cash equivalents and accounts receivable, as disclosed in the consolidated balance sheet. Cash and cash equivalents are in excess of Federal Deposit Insurance Corporation insurance limits, but are maintained with quality financial institutions of high credit. The Company generally requires certain network lenders to maintain security deposits with the Company, which in the event of non-payment, would be applied against any accounts receivable outstanding. Due to the nature of the mortgage lending industry, interest rate fluctuations may negatively impact future revenue from the Company's lender marketplace. Lenders participating on the Company's marketplace can offer their products directly to consumers through brokers, mass marketing campaigns or through other traditional methods of credit distribution. These lenders can also offer their products online, either directly to prospective borrowers, through one or more online competitors, or both. If a significant number of potential consumers are able to obtain loans from participating lenders without utilizing the Company's services, its ability to generate revenue may be limited. Because the Company does not have exclusive relationships with the lenders whose loan offerings are offered on its online marketplace, consumers may obtain offers and loans from these lenders without using its service. The Company maintains operations solely in the United States. Litigation Settlements and Contingencies Litigation settlements and contingencies consists of expenses related to actual or anticipated litigation settlements, in addition to legal fees incurred in connection with various patent litigation claims the Company pursues against others. Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-15 which addresses eight cash flow classification issues, eliminating the diversity in practice. This ASU is effective for annual and interim reporting periods beginning after December 15, 2017, with early adoption permitted. The retrospective transition method, requiring adjustment to all comparative periods presented, is required unless it is impracticable for some of the amendments, in which case those amendments would be prospectively applied as of the earliest date practicable. The Company is evaluating the impact this ASU will have on its consolidated financial statements and whether to early adopt. In March 2016, the FASB issued ASU 2016-09 which simplifies various aspects related to how share-based payments are accounted for and presented in the financial statements, including the income tax consequences, classification of awards as either equity or liabilities, forfeitures and classification of excess tax benefits on the statement of cash flows. This ASU is effective for annual and interim reporting periods beginning after December 15, 2016, with early adoption permitted. Upon adoption, any adjustments are to be reflected as of the beginning of the fiscal year of adoption. The Company is evaluating the impact this ASU will have on its consolidated financial statements and whether to early adopt. In February 2016, the FASB issued ASU 2016-02 related to leases. This ASU requires the recognition of a right-of-use lease asset and a lease liability by lessees for all leases greater than one year in duration. This ASU is effective for annual and interim reporting periods beginning after December 15, 2018, with early adoption permitted. The guidance must be adopted using a modified retrospective transition. The Company is evaluating the impact this ASU will have on its consolidated financial statements and whether to early adopt. In May 2014, the FASB issued ASU 2014-09 related to revenue recognition. This ASU was initiated as a joint project between the FASB and the International Accounting Standards Board ("IASB") to clarify the principles for recognizing revenue and to develop a common revenue standard for GAAP and international financial reporting standards ("IFRS"). This guidance will supersede the existing revenue recognition requirements in Accounting Standards Codification ("ASC") Topic 605, Revenue Recognition and was set to be effective for annual reporting periods beginning after December 15, 2016. However, in July 2015, the FASB deferred the effective date by one year, such that the standard will be effective for annual reporting periods beginning after December 15, 2017. Early adoption is permitted as of the original effective date of December 15, 2016. The ASU can be applied (i) retrospectively to each prior period presented or (ii) retrospectively with the cumulative effect of initially adopting the ASU recognized at the date of initial application. In March 2016, the FASB issued ASU 2016-08, which clarifies the principal versus agent guidance under ASU 2014-09. In April 2016, the FASB issued ASU 2016-10, which clarifies the identification of distinct performance obligations in a contract. In May 2016, the FASB issued ASU 2016-12, which clarifies the guidance on assessing collectibility, presenting sales taxes, measuring noncash consideration and certain other transition matters. The clarification ASU's must be adopted concurrently with the adoption of ASU 2014-09. The Company is evaluating the impact these ASU's will have on its consolidated financial statements, whether to early adopt and which implementation method to apply.

RESTRICTED CASH (Note)

9 Months Ended

Sep. 30, 2016

Cash and Cash Equivalents [Abstract]

RESTRICTED CASH

Restricted cash and cash equivalents consists of the following (in thousands):



	September 30, 2016		December 31, 2015
Cash in escrow for surety bonds ^(a)	$	—	$	2,453
Cash in escrow from sale of LendingTree Loans ^(b)	4,032		4,028
Other	59		60
Total restricted cash and cash equivalents	$	4,091	$	6,541

(a)

State laws and regulations generally require businesses which engage in mortgage brokering activity to maintain a mortgage broker or similar license. Mortgage brokering activity is generally defined to include, among other things, receiving valuable consideration for offering assistance to a buyer in obtaining a residential mortgage or soliciting financial and mortgage information from the public and providing that information to an originator of residential mortgage loans. All states require that the Company maintain surety bonds for potential claims. In February 2016, $2.5 million in escrow for the surety bonds was released due to a reduction in collateral requirements.


(b)	Home Loan Center, Inc. ("HLC"), a subsidiary of the Company, continues to be liable for certain indemnification obligations, repurchase obligations and premium repayment obligations following the sale of substantially all of the operating assets of its LendingTree Loans business in the second quarter of 2012.

BUSINESS ACQUISITION (Note)

9 Months Ended

Sep. 30, 2016

Business Combinations [Abstract]

BUSINESS ACQUISITION

On May 31, 2016, the Company acquired certain assets of SimpleTuition, Inc. ("SimpleTuition"), a leading online marketing platform for student loans, for $5.0 million of cash consideration. Of the purchase price, $4.5 million was funded with available cash on hand and $0.5 million was held-back in satisfaction of any potential claims.

The acquisition has been accounted for as a business combination. During the quarter ended September 30, 2016, the Company completed its determination of the final allocation of the purchase price with respect to the acquired assets. The Company has recorded the $5.0 million paid to the tangible and identifiable intangible assets based on their fair value, with the residual recorded to goodwill in the Company's one reportable segment. No liabilities were assumed. Acquisition-related costs were $0.1 million for the nine months ended September 30, 2016 and are included in general and administrative expense on the consolidated statements of operations and comprehensive income. The allocation of the purchase price to the assets acquired is as follows (in thousands):



	Fair Value		Weighted Average Amortization Life
			(in years)
Accounts receivable	$	125	N/A
Total intangible assets with definite lives, net	$	4,500	9.2 years
Goodwill	$	375	N/A

The Company treated the purchase as an asset acquisition for income tax purposes and is deducting the recognized goodwill for income tax purposes.

The acquisition of SimpleTuition was not considered significant to the accompanying consolidated financial statements. Accordingly, the revenue and earnings of SimpleTuition for the current reporting period is not presented on a stand-alone basis herein.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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+ Details

PROPERTY AND EQUIPMENT (Note)

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

The balance of property and equipment, net is as follows (in thousands):



	September 30, 2016			December 31, 2015
Computer equipment and capitalized software	$	13,893		$	10,192
Leasehold improvements	3,052			2,096
Furniture and other equipment	848			432
Aircraft and automobile	1,988			23
Projects in progress	2,438			3,612
Total gross property and equipment	22,219			16,355
Accumulated depreciation	(8,820		)	(6,940		)
Total property and equipment, net	$	13,399		$	9,415

GOODWILL AND INTANGIBLE ASSETS (Note)

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

The balance of goodwill and intangible assets, net is as follows (in thousands):



	September 30, 2016			December 31, 2015
Goodwill	$	487,095		$	486,720
Accumulated impairment losses	(483,088		)	(483,088		)
Net goodwill	$	4,007		$	3,632

Intangible assets with indefinite lives	$	10,142		$	10,142
Intangible assets with definite lives, net	5,087			850
Total intangible assets, net	$	15,229		$	10,992

Goodwill and Indefinite-Lived Intangible Assets

The Company's goodwill is associated with its one reportable segment. Intangible assets with indefinite lives relate to the Company's trademarks.

Intangible Assets with Definite Lives

Intangible assets with definite lives relate to the following (in thousands):



	Cost		Accumulated Amortization			Net
Technology	$	400	$	(44	)	$	356
Customer lists	4,900		(356		)	4,544
Other	1,287		(1,100		)	187
Balance at September 30, 2016	$	6,587	$	(1,500	)	$	5,087



	Cost		Accumulated Amortization			Net
Customer lists	$	1,000	$	(150	)	$	850
Other	1,087		(1,087		)	—
Balance at December 31, 2015	$	2,087	$	(1,237	)	$	850

Amortization of intangible assets with definite lives is computed on a straight-line basis and, based on balances as of September 30, 2016, future amortization is estimated to be as follows (in thousands):



	Amortization Expense
Remainder of current year	$	166
Year ending December 31, 2017	664
Year ending December 31, 2018	664
Year ending December 31, 2019	586
Year ending December 31, 2020	530
Thereafter	2,477
Total intangible assets with definite lives, net	$	5,087

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

SHAREHOLDERS' EQUITY (Note)

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

SHAREHOLDERS' EQUITY

Basic and diluted income per share was determined based on the following share data (in thousands):



	Three Months Ended September 30,		Nine Months Ended September 30,
	2016	2015	2016	2015
Weighted average basic common shares	11,754	11,445	11,827	11,378
Effect of stock options	913	891	877	841
Effect of dilutive share awards	75	153	78	160
Weighted average diluted common shares	12,742	12,489	12,782	12,379

No shares related to potentially dilutive securities were excluded from the calculation of diluted income per share for the three and nine months ended September 30, 2016 and 2015.

Common Stock Repurchases

In each of January 2010, May 2014, January 2016 and February 2016, the board of directors authorized and the Company announced the repurchase of up to $10.0 million, $10.0 million, $50.0 million and $40.0 million, respectively, of LendingTree's common stock. During the nine months ended September 30, 2016 and 2015, the Company purchased 690,218 and 5,250 shares, respectively, of its common stock pursuant to this stock repurchase program. At September 30, 2016, approximately $48.7 million of the previous authorizations to repurchase common stock remain available for the Company to purchase its common stock.

STOCK-BASED COMPENSATION (Note)

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

STOCK-BASED COMPENSATION

Non-cash compensation related to equity awards is included in the following line items in the accompanying consolidated statements of operations and comprehensive income (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Cost of revenue	$	29	$	24	$	99	$	68
Selling and marketing expense	737		425		2,118		1,080
General and administrative expense	1,072		1,178		3,511		3,909
Product development	510		351		1,682		1,176
Restructuring and severance	—		—		—		138
Total non-cash compensation	$	2,348	$	1,978	$	7,410	$	6,371

Stock Options

A summary of changes in outstanding stock options is as follows:



	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value^(a)
			(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2016	1,918,182		$	18.85
Granted ^(b)	73,639		75.20
Exercised	(2,199	)	42.04
Forfeited	(6,329	)	74.48
Expired	—		—
Options outstanding at September 30, 2016	1,983,293		20.74		5.37	$	151,223
Options exercisable at September 30, 2016	973,407		$	9.75	2.90	$	84,906

(a)

The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price of $96.91 on the last trading day of the quarter ended September 30, 2016 and the exercise price, multiplied by the number of shares covered by in-the-money options) that would have been received by the option holders had all option holders exercised their options on September 30, 2016. The intrinsic value changes based on the market value of the Company's common stock.

(b)

During the nine months ended September 30, 2016, the Company granted stock options to certain employees and the board of directors with a weighted average grant date fair value per share of $37.75, calculated using the Black-Scholes option pricing model, which vesting periods include (a) three years from the grant date, (b) two years from the grant date, (c) 25% and 75% over a period of two years and three years, respectively and (d) five months from the grant date.

For purposes of determining stock-based compensation expense, the weighted average grant date fair value per share of the stock options was estimated using the Black-Scholes option pricing model, which requires the use of various key assumptions. The weighted average assumptions used are as follows:



Expected term ⁽¹⁾	5.22 - 6.38 years
Expected dividend ⁽²⁾	—
Expected volatility ⁽³⁾	48% - 53%
Risk-free interest rate ⁽⁴⁾	1.10% - 1.90%


(1)	The expected term of stock options granted was calculated using the 'Simplified Method', which utilizes the midpoint between the weighted average time of vesting and the end of the contractual term. This method was utilized for the stock options due to a lack of historical exercise behavior by the Company's employees.


(2)	For all stock options granted in 2016, no dividends are expected to be paid over the contractual term of the stock options, resulting in a zero expected dividend rate.


(3)	The expected volatility rate is based on the historical volatility of the Company's common stock.


(4)	The risk-free interest rate is specific to the date of grant. The risk-free interest rate is based on U.S. Treasury yields for notes with comparable expected terms as the awards, in effect at the grant date.

Restricted Stock Units and Restricted Stock

A summary of the changes in outstanding nonvested restricted stock units ("RSUs") and restricted stock is as follows:



	RSUs
	Number of Units		Weighted Average Grant Date Fair Value
			(per unit)
Nonvested at January 1, 2016	237,377		$	43.13
Granted	68,884		73.81
Vested	(133,255	)	33.17
Forfeited	(17,452	)	57.12
Nonvested at September 30, 2016	155,554		$	63.68



	Restricted Stock
	Number of Shares		Weighted Average Grant Date Fair Value
			(per share)
Nonvested at January 1, 2016	68,762		$	23.60
Granted	—		—
Vested	(35,297	)	20.62
Forfeited	—		—
Nonvested at September 30, 2016	33,465		$	26.73

Restricted Stock Units with Performance Conditions

During the nine months ended September 30, 2016, the Company granted RSUs with performance conditions to certain employees, of which vesting periods include: (a) 33.3% over a period of 0.33 years, 33.3% over a period of 1.33 years and 33.4% over a period of 2.33 years, each pending the attainment of certain performance targets set at the time of grant (b) 100% after 2.33 years from the grant date, pending the attainment of certain performance targets set at the time of grant and (c) 33.3% upon the completion of certain performance criteria, 33.3% on the first anniversary of the initial vesting and 33.4% on the second anniversary of the initial vesting.

A summary of the changes in outstanding nonvested RSUs with performance conditions is as follows:



	RSUs with Performance Conditions
	Number of Units	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at January 1, 2016	—	$	—
Granted	44,052	83.92
Vested	—	—
Forfeited	—	—
Nonvested at September 30, 2016	44,052	$	83.92

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

INCOME TAXES (Note)

9 Months Ended

Sep. 30, 2016

Income Tax Disclosure [Abstract]

INCOME TAXES



	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
	(in thousands, except percentages)
Income tax expense	$	(6,729	)	$	(389	)	$	(15,099	)	$	(968	)
Effective tax rate	48.0		%	5.0		%	39.4		%	4.8		%

For the three months ended September 30, 2016, the effective tax rate varied from the federal statutory rate of 35% primarily due to state taxes, including the impact of a reduction in North Carolina state income tax rates which reduced the value of its deferred tax assets.

For the nine months ended September 30, 2016, the effective tax rate varied from the federal statutory rate of 35% primarily due to the benefit derived from the federal research tax credit, partially offset by state taxes, including the impact of state tax reductions. The federal research tax credit benefit is the result of a study completed during the second quarter for the open tax years of 2011 through 2015, plus an estimate of the benefit from current research activities.

For the three and nine months ended September 30, 2015, the effective tax rate varied from the federal statutory rate of 35% primarily due to the existence of a valuation allowance that was previously provided to offset the Company's net deferred tax asset and state taxes. During the fourth quarter of 2015, the Company released the majority of the valuation allowance.

REVOLVING CREDIT FACILITY

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

REVOLVING CREDIT FACILITY

Senior Secured Revolving Credit Facility

On October 22, 2015, the Company's wholly-owned subsidiary, LendingTree, LLC, entered into a $125.0 million five-year senior secured revolving credit facility which matures on October 22, 2020 (the “Revolving Credit Facility”). The proceeds of the Revolving Credit Facility can be used to finance the working capital needs, capital expenditures and general corporate purposes, including to finance permitted acquisitions. As of September 30, 2016, the Company does not have any borrowings outstanding under the Revolving Credit Facility.

Up to $10.0 million of the Revolving Credit Facility will be available for short-term loans, referred to as swingline loans. Additionally, up to $10.0 million of the Revolving Credit Facility will be available for the issuance of letters of credit. Under certain conditions, the Company will be permitted to add one or more term loans and/or increase revolving commitments under the Revolving Credit Facility up to an aggregate amount of $50.0 million.

The Company’s borrowings under the Revolving Credit Facility bear interest at annual rates that, at the Company’s option, will be either:


•	a base rate generally defined as the sum of (i) the greater of (a) the prime rate of SunTrust Bank, (b) the federal funds effective rate plus 0.5% and (c) the LIBO rate (defined below) on a daily basis applicable for an interest period of one month plus 1.0% and (ii) an applicable percentage of 1.0% to 2.0% based on the funded debt to consolidated EBITDA ratio; or


•	a LIBO rate generally defined as the sum of (i) the rate for Eurodollar deposits in the applicable currency and (ii) an applicable percentage of 2.0% to 3.0% based on the funded debt to consolidated EBITDA ratio.

All swingline loans bear interest at the base rate defined above. Interest on the Company’s borrowings are payable quarterly in arrears for base rate loans and on the last day of each interest rate period (but not less often than three months) for LIBO rate loans.

The Revolving Credit Facility contains certain restrictive financial covenants, which include a funded debt to consolidated EBITDA ratio and a consolidated EBITDA to interest expense ratio. In addition, the Revolving Credit Facility contains customary affirmative and negative covenants in addition to events of default for a transaction of this type that, among other things, restrict additional indebtedness, liens, mergers or certain fundamental changes, asset dispositions, dividends, stock repurchases and other restricted payments, transactions with affiliates, sale-leaseback transactions, hedging transactions, loans and investments and other matters customarily restricted in such agreements. The Company was in compliance with all covenants at September 30, 2016.

The Revolving Credit Facility requires LendingTree, LLC to pledge as collateral, subject to certain customary exclusions, 100% of its assets, including 100% of its equity in all of its subsidiaries. The obligations under this facility are unconditionally guaranteed on a senior basis by LendingTree, Inc. and specific subsidiaries of LendingTree, LLC, which guaranties are secured by a pledge as collateral, subject to certain customary exclusions, of 100% of each of such guarantor's assets, including 100% of its equity in all of its subsidiaries.

The Company is required to pay an unused commitment fee quarterly in arrears on the difference between committed amounts and amounts actually borrowed under the Revolving Credit Facility equal to an applicable percentage of 0.25% to 0.5% per annum based on a funded debt to consolidated EBITDA ratio. The Company is required to pay a letter of credit participation fee and a letter of credit fronting fee quarterly in arrears. The letter of credit participation fee is based upon the aggregate face amount of outstanding letters of credit at an applicable percentage of 2.0% to 3.0% based on the funded debt to consolidated EBITDA ratio. The letter of credit fronting fee is .125% per annum on the face amount of each letter of credit.

The Company incurred debt issuance costs of $1.2 million for the Revolving Credit Facility, which is included in prepaid and other current assets and other non-current assets in the Company's consolidated balance sheet and is being amortized to interest expense over the life of the Revolving Credit Facility of five years.

CONTINGENCIES (Note)	9 Months Ended
CONTINGENCIES (Note)	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES Overview LendingTree is involved in legal proceedings on an ongoing basis. In assessing the materiality of a legal proceeding, the Company evaluates, among other factors, the amount of monetary damages claimed, as well as the potential impact of non-monetary remedies sought by plaintiffs (e.g., injunctive relief) that may require it to change its business practices in a manner that could have a material and adverse impact on the business. With respect to the matters disclosed in this Note 12, unless otherwise indicated, the Company is unable to estimate the possible loss or range of losses that could potentially result from the application of such non-monetary remedies. As of September 30, 2016 and December 31, 2015, the Company had a litigation settlement accrual of $0.7 million and $0.6 million, respectively, in continuing operations and $4.0 million and $3.6 million, respectively, in discontinued operations. The litigation settlement accrual relates to litigation matters that were either settled or a firm offer for settlement was extended, thereby establishing an accrual amount that is both probable and reasonably estimable. Specific Matters Intellectual Property Litigation Zillow LendingTree v. Zillow, Inc., et al. Civil Action No. 3:10-cv-439. On September 8, 2010, the Company filed an action for patent infringement in the US District Court for the Western District of North Carolina against Zillow, Inc., NexTag, Inc., Quinstreet, Inc., Quinstreet Media, Inc. and Adchemy, Inc. The complaint was amended to include Leadpoint, Inc. d/b/a Securerights on September 24, 2010. The complaint alleged that each of the defendants infringed one or both of the Company's patents-U.S. Patent No. 6,385,594, entitled "Method and Computer Network for Co-Ordinating a Loan over the Internet," and U.S. Patent No. 6,611,816, entitled "Method and Computer Network for Co-Ordinating a Loan over the Internet." The defendants in this action asserted various defenses and counterclaims against the Company, including the assertion by certain of the defendants of counterclaims alleging illegal monopolization via the Company's maintenance of the asserted patents. Defendant NexTag asserted defenses of laches and equitable estoppel. In July 2011, the Company reached a settlement agreement with Leadpoint, Inc., pursuant to which all claims against Leadpoint, Inc. and all counterclaims against the Company by Leadpoint, Inc. were dismissed. In November 2012, the Company reached a settlement agreement with Quinstreet, Inc. and Quinstreet Media, Inc. (collectively, the "Quinstreet Parties"), pursuant to which all claims against the Quinstreet Parties and all counterclaims against the Company by the Quinstreet Parties were dismissed. After an unsuccessful attempt to reach settlement through mediation with the remaining parties, this matter went to trial beginning in February 2014, and on March 12, 2014, the jury returned a verdict. The jury found that the defendants Zillow, Inc., Adchemy, Inc. and NexTag, Inc. did not infringe the two patents referenced above and determined that those patents are invalid due to an inventorship defect, and the court found that NexTag was entitled to defense of laches and equitable estoppel. The jury found in the Company's favor on the defendants' counterclaims alleging inequitable conduct and antitrust violations. Judgment was entered on March 31, 2014. After the court entered judgment, on May 27, 2014, the Company reached a settlement agreement with defendant Adchemy, Inc., including an agreement to dismiss and withdraw all claims, counterclaims, and motions between the Company and Adchemy, Inc. As a result, a joint and voluntary dismissal was filed June 12, 2014 with respect to claims between the Company and Adchemy. The parties filed various post-trial motions; in particular, defendants collectively sought up to $9.7 million in fees and costs. On October 9, 2014, the court denied the Company's post-trial motion for judgment as a matter of law and denied Zillow's post-trial motions for sanctions and attorneys' fees. The court also denied in part and granted in part NexTag's post-trial motion for attorneys' fees, awarding NexTag a portion of its attorney's fees and costs totaling $2.3 million, plus interest. The trial and post-trial motion process is now complete. In November 2014, the Company filed a notice of appeal to the U.S. Court of Appeals for the Federal Circuit with respect to the jury verdict concerning Zillow, Inc. and NexTag, Inc. and the award of attorneys' fees. In March 2015, the U.S. Court of Appeals for the Federal Circuit granted the Company's motion to stay appellate briefing pending an en banc review by such court of the laches defense in an unrelated patent infringement matter and ruled in favor of Zillow, Inc. on an immaterial amount of costs related to the trial process. In June 2015, the Company reached a settlement agreement for $1.1 million with defendant NexTag pursuant to which the Company dismissed its appeal of the jury verdict and the award of attorney's fees concerning NexTag, and NexTag dismissed its cross-appeal and claims relating to the jury verdict and the award of attorneys' fees. In July 2015, the stay was lifted on the Company's appeal with respect to the jury verdict concerning Zillow, Inc. The appeal was heard by the U.S. Court of Appeals for the Federal Circuit in June 2016, and in July 2016 the Court determined that certain of the claims of the two patents referenced above were directed to ineligible subject matter and thus such claims were invalid under 35 U.S.C. Section 101. With respect to the remaining claims that the Court did not hold were ineligible, the Court granted a remand to the federal district court to allow LendingTree to file a motion to vacate the judgment of invalidity for incorrect inventorship. Legal Matters Next Advisor, Inc. Next Advisor, Inc. v. LendingTree, Inc. and LendingTree, LLC, No. 15-cvs-20775 (N.C. Super. Ct.). On November 6, 2015, the plaintiff filed this action against LendingTree, Inc. and LendingTree, LLC (together "LendingTree"). The plaintiff generally alleges that LendingTree breached a non-disclosure agreement and misappropriated trade secrets in the context of a potential business acquisition of the plaintiff by LendingTree. Based upon these allegations, the plaintiff asserts claims for breach of contract, misappropriation of trade secrets and violation of North Carolina Unfair and Deceptive Trade Practices Act. The plaintiff seeks damages, attorneys' fees and injunctive relief. On December 16, 2015, LendingTree filed its answer to the plaintiff's complaint, denying the material allegations and asserting numerous defenses thereto. In June 2016, the Court granted plaintiff's motion for preliminary injunction and ordered that LendingTree cease any utilization of confidential and trade secret information of plaintiff and cease marketing its credit card product via certain third party content marketing platforms until the judge finally determines the facts in this matter and the appropriate relief, if any, to be granted with respect thereto. Discovery is ongoing in this matter. LendingTree believes that the plaintiff's allegations lack merit and intends to vigorously defend this action. In July 2016, LendingTree filed a notice of appeal with respect to the order granting plaintiff's motion for preliminary injunction to the North Carolina Supreme Court. An estimated liability of $0.1 million for this matter is included in the accompanying consolidated balance sheet as of September 30, 2016. Massachusetts Division of Banks On February 11, 2011, the Massachusetts Division of Banks (the "Division") delivered a Report of Examination/Inspection to LendingTree, LLC, which identified various alleged violations of Massachusetts and federal laws, including the alleged insufficient delivery by LendingTree, LLC of various disclosures to its customers. On October 14, 2011, the Division provided a proposed Consent Agreement and Order to settle the Division's allegations, which the Division had shared with other state mortgage lending regulators. Thirty-four of such state mortgage lending regulators (the "Joining Regulators") indicated that if LendingTree, LLC would enter into the Consent Agreement and Order, they would agree not to pursue any analogous allegations that they otherwise might assert. None of the Joining Regulators have asserted any such allegations. The proposed Consent Agreement and Order calls for a fine to be allocated among the Division and the Joining Regulators and for LendingTree, LLC to adopt various new procedures and practices. The Company has commenced negotiations toward an acceptable Consent Agreement and Order. It does not believe its mortgage marketplace business violated any federal or state mortgage lending laws; nor does it believe that any past operations of the mortgage business have resulted in a material violation of any such laws. Should the Division or any Joining Regulator bring any actions relating to the matters alleged in the February 2011 Report of Examination/Inspection, the Company intends to defend against such actions vigorously. The range of possible loss is estimated to be between $0.5 million and $6.5 million, and an estimated liability of $0.5 million has been established for this matter in the accompanying consolidated balance sheet as of September 30, 2016. Litigation Related to Discontinued Operations Dijkstra Lijkel Dijkstra v. Harry Carenbauer, Home Loan Center, Inc. et al., No. 5:11-cv-152-JPB (U.S. Dist. Ct., N.D.WV). In November 2008, the plaintiffs filed a putative class action in Circuit Court of Ohio County, West Virginia against Harry Carenbauer, HLC, HLC Escrow, Inc. et al. The complaint alleges that HLC engaged in the unauthorized practice of law in West Virginia by permitting persons who were neither admitted to the practice of law in West Virginia nor under the direct supervision of a lawyer admitted to the practice of law in West Virginia to close mortgage loans. The plaintiffs assert claims for declaratory judgment, contempt, injunctive relief, conversion, unjust enrichment, breach of fiduciary duty, intentional misrepresentation or fraud, negligent misrepresentation, violation of the West Virginia Consumer Credit and Protection Act ("CCPA"), violation of the West Virginia Lender, Broker & Services Act, civil conspiracy, outrage and negligence. The claims against all defendants other than Mr. Carenbauer, HLC and HLC Escrow, Inc. have been dismissed. The case was removed to federal court in October 2011. On January 3, 2013, the court granted a conditional class certification only with respect to the declaratory judgment, contempt, unjust enrichment and CCPA claims. The conditional class included consumers with mortgage loans in effect any time after November 8, 2007 who obtained such loans through HLC, and whose loans were closed by persons not admitted to the practice of law in West Virginia or by persons not under the direct supervision of a lawyer admitted to the practice of law in West Virginia. In February 2014, the court granted and denied certain of each party's motions for summary judgment. With respect to the Class Claims, the court granted plaintiff's motions for summary judgment with respect to declaratory judgment, unjust enrichment and violation of the CCPA. The court granted HLC's motion for summary judgment with respect to contempt. In addition, the court denied HLC's motion to decertify the class. With respect to the claims applicable to the named plaintiff only (the "Individual Claims"), HLC's motions for summary judgment were granted with respect to conversion, breach of fiduciary duty, intentional misrepresentation, negligent misrepresentation and outrage. HLC and the plaintiff settled the remaining Individual Claims in June 2014. In July 2014, the court awarded damages to plaintiffs in the amount of $2.8 million (the "Class Damages Award"). HLC filed a notice of appeal in August 2014 and in September 2014, plaintiffs filed a motion to dismiss the appeal. In December 2014, the U.S. Court of Appeals for the Fourth Circuit determined that the district court's order was not yet final, and, accordingly, HLC's appeal was dismissed. In July 2015, the district court ordered that the Class Damages Award be allocated such that two-thirds of the Class Damages Award would be paid to the class members and one-third of the Class Damages would be paid to the plaintiffs' attorneys. In addition, the court ordered that HLC reimburse the class for attorneys' fees by making an incremental payment of $389,500 attorneys' fee award be paid by HLC to the plaintiffs' attorneys. The judge also awarded prejudgment interest to Plaintiffs. On July 30, 2015, the district court judge entered a final judgment order in this matter. On August 27, 2015, HLC filed its notice of appeal to the U.S. Court of Appeals for the Fourth Circuit with respect to the final judgment, the order granting attorneys' fees, and the orders on class damages, the pretrial conference, motions and class certification. In June 2016, the parties executed a settlement agreement for $1.9 million with respect to such matters. Such settlement was approved by the district court judge in the third quarter of 2016 and class notice and administration requirements are now complete. During the three months ended September 30, 2016, the Company reversed $1.3 million of the originally established liability for this matter. Residential Funding Company Residential Funding Company, LLC v Home Loan Center, Inc., No. 13-cv-3451 (U.S. Dist. Ct., Minn.). On or about December 16, 2013, Home Loan Center, Inc. was served in the above captioned matter. Generally, Residential Funding Company, LLC ("RFC") seeks damages for breach of contract and indemnification for certain residential mortgage loans as well as residential mortgage-backed securitizations ("RMBS") containing mortgage loans. RFC asserts that, beginning in 2008, RFC faced massive repurchase demands and lawsuits from purchasers or insurers of the loans and RMBS that RFC had sold. RFC filed for bankruptcy protection in May 2012. Plaintiff alleges that, after RFC filed for Chapter 11 protection, hundreds of proofs of claim were filed, many of which mirrored the litigation filed against RFC prior to its bankruptcy. In December 2013, the United States Bankruptcy Court for the Southern District of New York entered an Order confirming the Second Amended Joint Chapter 11 Plan Proposed by Residential Capital, LLC et al. and the Official Committee of Unsecured Creditors. Plaintiff then began filing substantially similar complaints against approximately 80 of the loan originators from whom RFC had purchased loans, including Home Loan Center, in federal and state courts in Minnesota and New York. In each case, Plaintiff claims that the defendant is liable for a portion of the global settlement in RFC’s bankruptcy. Plaintiff asserts two claims against HLC: (1) breach of contract based on HLC’s alleged breach of representations and warranties concerning the quality and characteristics of the mortgage loans it sold to RFC (Count One); and (2) contractual indemnification for alleged liabilities, losses, and damages incurred by RFC arising out of purported defects in loans that RFC purchased from HSBC and sold to third parties (Count Two). Plaintiff alleges that the “types of defects” contained in the loans it purchased from HLC included “income misrepresentation, employment misrepresentation, appraisal misrepresentations or inaccuracies, undisclosed debt, and missing or inaccurate documents.” HLC filed a Motion to Dismiss under Rule 12(b)(6) of the Federal Rules of Civil Procedure or, in the alternative, a Motion for More Definite Statement under Rule 12(e). On June 25, 2015 the judge denied HLC's motion. On July 9, 2015, HLC filed its answer to RFC’s complaint, denying the material allegations of the complaint and asserting numerous defenses thereto. Discovery is ongoing in this matter. An estimated liability of $3.0 million for this matter is included in the accompanying consolidated balance sheet as of September 30, 2016. HLC intends to vigorously defend this action. Lehman Brothers Holdings, Inc. Lehman Brothers Holdings Inc. v. 1st Advantage Mortgage, LLC et al., Case No. 08-13555 (SCC) (Bankr. S.D.N.Y.). In February 2016, Lehman Brothers Holdings, Inc. (“LBHI”) filed an Adversary Complaint against Home Loan Center and approximately 149 other defendants (the "Complaint"). The Complaint generally seeks (1) a declaratory judgment that the settlements entered into by LBHI with Fannie Mae and Freddie Mac as part of LBHI's bankruptcy proceedings gave rise to LBHI's contractual indemnification claims against defendants alleged in the Complaint; (2) indemnification from HLC and the other defendants for losses allegedly incurred by LBHI in respect of defective mortgage loans sold by defendants to LBHI or its affiliates; and (3) interest, attorneys' fees and costs incurred by LBHI in the litigation. HLC intends to defend this action vigorously. HLC had previously received a demand letter (the "Letter") from LBHI in December 2014 with respect to 64 loans (the “Loans”) that LBHI alleges were sold by HLC to Lehman Brothers Bank, FSB (“LBB”) between 2004 and 2008 pursuant to a loan purchase agreement (the “LPA”) between HLC and LBB. The Letter generally sought indemnification from HLC in accordance with the LPA for certain claims that LBHI alleged it allowed in its bankruptcy with respect to the Loans. An estimated liability of $1.0 million for this matter is included in the accompanying consolidated balance sheet as of September 30, 2016.

SEGMENT INFORMATION (Note)

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company has one reportable segment.

Mortgage and non-mortgage product revenue is as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Mortgage products	$	53,523	$	44,171	$	164,571	$	118,367
Non-mortgage products	41,035		25,633		118,990		57,508
Total revenue	$	94,558	$	69,804	$	283,561	$	175,875

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
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+ Details

DISCONTINUED OPERATIONS (Note)

9 Months Ended

Sep. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

The revenue and net loss reported as discontinued operations in the accompanying consolidated statements of operations and comprehensive income are as follows (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Revenue	$	1,834		$	1		$	1,835		$	4

Loss before income taxes	$	(1,021	)	$	(1,343	)	$	(4,640	)	$	(3,369	)
Income tax benefit	357			48			1,623			131
Net loss	$	(664	)	$	(1,295	)	$	(3,017	)	$	(3,238	)

LendingTree Loans

On June 6, 2012, the Company sold substantially all of the operating assets of its LendingTree Loans business for $55.9 million in cash to a wholly-owned subsidiary of Discover Financial Services ("Discover"). Discover generally did not assume liabilities of the LendingTree Loans business that arose before the closing date, except for certain liabilities directly related to assets Discover acquired. Of the purchase price paid, as of September 30, 2016, $4.0 million is being held in escrow in accordance with the agreement with Discover for certain loan loss obligations that remain with the Company following the sale. The escrowed amount is recorded as restricted cash as of September 30, 2016.

Discover participated as a marketplace lender from closing of the transaction through July 2015.

Significant Assets and Liabilities of LendingTree Loans

Upon closing of the sale of substantially all of the operating assets of the LendingTree Loans business on June 6, 2012, LendingTree Loans ceased to originate consumer loans. The remaining operations are being wound down. These wind-down activities have included, among other things, selling the balance of loans held for sale to investors, paying off and then terminating the warehouse lines of credit and settling derivative obligations, all of which have been completed. Liability for losses on previously sold loans will remain with LendingTree Loans and are discussed below.

Loan Loss Obligations

LendingTree Loans sold loans it originated to investors on a servicing-released basis, so the risk of loss or default by the borrower was generally transferred to the investor. However, LendingTree Loans was required by these investors to make certain representations and warranties relating to credit information, loan documentation and collateral. These representations and warranties may extend through the contractual life of the loan. Subsequent to the loan sale, if underwriting deficiencies, borrower fraud or documentation defects are discovered in individual loans, LendingTree Loans may be obligated to repurchase the respective loan or indemnify the investors for any losses from borrower defaults if such deficiency or defect cannot be cured within the specified period following discovery. In the case of early loan payoffs and early defaults on certain loans, LendingTree Loans may be required to repay all or a portion of the premium initially paid by the investor.

HLC, a subsidiary of the Company, continues to be liable for these indemnification obligations, repurchase obligations and premium repayment obligations following the sale of substantially all of the operating assets of its LendingTree Loans business in the second quarter of 2012. As of September 30, 2016, approximately $4.0 million is being held in escrow pending resolution of certain of these contingent liabilities.

Prior to the sale of substantially all of the operating assets of LendingTree Loans in June 2012, it originated approximately 234,000 loans with an original issue balance of $38.9 billion.

During the fourth quarter of 2015, LendingTree Loans completed a settlement agreement for $0.6 million with one of the investors to which it had sold loans. This investor accounted for approximately 10% of the total number of loans sold and 12% of the original issue balance. This settlement related to all existing and future losses on loans sold to this investor.

During the fourth quarter of 2014, LendingTree Loans completed a settlement agreement for $5.4 million with the largest investor to which it had sold loans. This investor accounted for approximately 40% of both the total number of loans sold and the original issue balance. This settlement related to all existing and future losses on loans sold to this investor.

In the second quarter of 2014, LendingTree Loans completed settlements with two buyers of previously purchased loans.

The following table represents the remaining unsettled loans.



	Number of Loans		Original Issue Balance
	(in thousands)		(in billions)
Loans sold by HLC	234		$	38.9
Subsequent settlements	(172	)	(28.8		)
Remaining unsettled loans as of September 30, 2016	62		$	10.1

The Company has been negotiating with certain of the remaining secondary market purchasers to settle any existing and future contingent liabilities, but it may not be able to complete such negotiations on acceptable terms, or at all. Because LendingTree Loans does not service the loans it sold, it does not maintain nor generally have access to the current balances and loan performance data with respect to the individual loans previously sold to investors. Accordingly, LendingTree Loans is unable to determine, with precision, its maximum exposure for breaches of the representations and warranties it made to the investors that purchased such loans.

The Company uses a settlement discount framework for evaluating the adequacy of the reserve for loan losses. This model estimates lifetime losses on the population of remaining loans originated and sold by LendingTree Loans using actual defaults for loans with similar characteristics and projected future defaults. It also considers the likelihood of claims expected due to alleged breaches of representations and warranties made by LendingTree Loans and the percentage of those claims investors estimate LendingTree Loans may agree to repurchase. A settlement discount factor is then applied to the result of the foregoing to reflect publicly-announced bulk settlements for similar loan types and vintages, as well as LendingTree Loans' non-operating status, in order to estimate a range of potential obligation.

The estimated range of remaining loan losses using this settlement discount framework was determined to be $4.4 million to $7.9 million at September 30, 2016. The reserve balance recorded as of September 30, 2016 was $6.3 million. Management has considered both objective and subjective factors in the estimation process, but given current general industry trends in mortgage loans as well as housing prices and market expectations, actual losses related to LendingTree Loans' obligations could vary significantly from the obligation recorded as of the balance sheet date or the range estimated above.

Additionally, LendingTree has guaranteed certain loans sold to two investors in the event that LendingTree Loans is unable to satisfy its repurchase and warranty obligations related to such loans.

Based on historical experience, it is anticipated that LendingTree Loans will continue to receive repurchase requests and incur losses on loans sold in prior years.

The activity related to loss reserves on previously sold loans is as follows (in thousands):



	Three Months Ended September 30,					Nine Months Ended September 30,
	2016			2015		2016			2015
Loan loss reserve, beginning of period	$	8,127		$	8,750	$	8,127		$	8,750
Provisions ^(a)	(1,834		)	—		(1,834		)	—
Charge-offs to reserves	—			—		—			—
Loan loss reserve, end of period	$	6,293		$	8,750	$	6,293		$	8,750


(a)	During the third quarter of 2016, the Company adjusted the loan loss reserve to remove the estimated liability for loans sold to RFC. The Company is in litigation with RFC and reserved the loss for this litigation in the legal reserve. See Note 12—Contingencies for additional information about the RFC litigation.

The liability for losses on previously sold loans is presented as current liabilities of discontinued operations in the accompanying consolidated balance sheet as of September 30, 2016 and December 31, 2015.

- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2016
Accounting Policies [Abstract]
Accounting Estimates	Accounting Estimates Management is required to make certain estimates and assumptions during the preparation of the consolidated financial statements in accordance with GAAP. These estimates and assumptions impact the reported amount of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. They also impact the reported amount of net earnings during any period. Actual results could differ from those estimates. Significant estimates underlying the accompanying consolidated financial statements, including discontinued operations, include: loan loss obligations; the recoverability of long-lived assets, goodwill and intangible assets; the determination of income taxes payable and deferred income taxes, including related valuation allowances; various other allowances, reserves and accruals; and assumptions related to the determination of stock-based compensation.
Certain Risks and Concentrations	Certain Risks and Concentrations LendingTree's business is subject to certain risks and concentrations including dependence on third-party technology providers, exposure to risks associated with online commerce security and credit card fraud. Financial instruments, which potentially subject the Company to concentration of credit risk at September 30, 2016, consist primarily of cash and cash equivalents and accounts receivable, as disclosed in the consolidated balance sheet. Cash and cash equivalents are in excess of Federal Deposit Insurance Corporation insurance limits, but are maintained with quality financial institutions of high credit. The Company generally requires certain network lenders to maintain security deposits with the Company, which in the event of non-payment, would be applied against any accounts receivable outstanding. Due to the nature of the mortgage lending industry, interest rate fluctuations may negatively impact future revenue from the Company's lender marketplace. Lenders participating on the Company's marketplace can offer their products directly to consumers through brokers, mass marketing campaigns or through other traditional methods of credit distribution. These lenders can also offer their products online, either directly to prospective borrowers, through one or more online competitors, or both. If a significant number of potential consumers are able to obtain loans from participating lenders without utilizing the Company's services, its ability to generate revenue may be limited. Because the Company does not have exclusive relationships with the lenders whose loan offerings are offered on its online marketplace, consumers may obtain offers and loans from these lenders without using its service. The Company maintains operations solely in the United States.
Litigation Settlements and Contingencies	Litigation Settlements and Contingencies Litigation settlements and contingencies consists of expenses related to actual or anticipated litigation settlements, in addition to legal fees incurred in connection with various patent litigation claims the Company pursues against others.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-15 which addresses eight cash flow classification issues, eliminating the diversity in practice. This ASU is effective for annual and interim reporting periods beginning after December 15, 2017, with early adoption permitted. The retrospective transition method, requiring adjustment to all comparative periods presented, is required unless it is impracticable for some of the amendments, in which case those amendments would be prospectively applied as of the earliest date practicable. The Company is evaluating the impact this ASU will have on its consolidated financial statements and whether to early adopt. In March 2016, the FASB issued ASU 2016-09 which simplifies various aspects related to how share-based payments are accounted for and presented in the financial statements, including the income tax consequences, classification of awards as either equity or liabilities, forfeitures and classification of excess tax benefits on the statement of cash flows. This ASU is effective for annual and interim reporting periods beginning after December 15, 2016, with early adoption permitted. Upon adoption, any adjustments are to be reflected as of the beginning of the fiscal year of adoption. The Company is evaluating the impact this ASU will have on its consolidated financial statements and whether to early adopt. In February 2016, the FASB issued ASU 2016-02 related to leases. This ASU requires the recognition of a right-of-use lease asset and a lease liability by lessees for all leases greater than one year in duration. This ASU is effective for annual and interim reporting periods beginning after December 15, 2018, with early adoption permitted. The guidance must be adopted using a modified retrospective transition. The Company is evaluating the impact this ASU will have on its consolidated financial statements and whether to early adopt. In May 2014, the FASB issued ASU 2014-09 related to revenue recognition. This ASU was initiated as a joint project between the FASB and the International Accounting Standards Board ("IASB") to clarify the principles for recognizing revenue and to develop a common revenue standard for GAAP and international financial reporting standards ("IFRS"). This guidance will supersede the existing revenue recognition requirements in Accounting Standards Codification ("ASC") Topic 605, Revenue Recognition and was set to be effective for annual reporting periods beginning after December 15, 2016. However, in July 2015, the FASB deferred the effective date by one year, such that the standard will be effective for annual reporting periods beginning after December 15, 2017. Early adoption is permitted as of the original effective date of December 15, 2016. The ASU can be applied (i) retrospectively to each prior period presented or (ii) retrospectively with the cumulative effect of initially adopting the ASU recognized at the date of initial application. In March 2016, the FASB issued ASU 2016-08, which clarifies the principal versus agent guidance under ASU 2014-09. In April 2016, the FASB issued ASU 2016-10, which clarifies the identification of distinct performance obligations in a contract. In May 2016, the FASB issued ASU 2016-12, which clarifies the guidance on assessing collectibility, presenting sales taxes, measuring noncash consideration and certain other transition matters. The clarification ASU's must be adopted concurrently with the adoption of ASU 2014-09. The Company is evaluating the impact these ASU's will have on its consolidated financial statements, whether to early adopt and which implementation method to apply.

RESTRICTED CASH RESTRICTED CASH (Tables)

9 Months Ended

Sep. 30, 2016

Cash and Cash Equivalents [Abstract]

Schedule of Restricted Cash and Cash Equivalents

Restricted cash and cash equivalents consists of the following (in thousands):



	September 30, 2016		December 31, 2015
Cash in escrow for surety bonds ^(a)	$	—	$	2,453
Cash in escrow from sale of LendingTree Loans ^(b)	4,032		4,028
Other	59		60
Total restricted cash and cash equivalents	$	4,091	$	6,541

(a)


(b)	Home Loan Center, Inc. ("HLC"), a subsidiary of the Company, continues to be liable for certain indemnification obligations, repurchase obligations and premium repayment obligations following the sale of substantially all of the operating assets of its LendingTree Loans business in the second quarter of 2012.

BUSINESS ACQUISITION BUSINESS ACQUISITION (Tables)

9 Months Ended

Sep. 30, 2016

Business Combinations [Abstract]

Allocation of the purchase price to the assets acquired

The allocation of the purchase price to the assets acquired is as follows (in thousands):



	Fair Value		Weighted Average Amortization Life
			(in years)
Accounts receivable	$	125	N/A
Total intangible assets with definite lives, net	$	4,500	9.2 years
Goodwill	$	375	N/A

PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT (Tables)

9 Months Ended

Sep. 30, 2016

Property and equipment

Schedule of property and equipment, net

The balance of property and equipment, net is as follows (in thousands):



	September 30, 2016			December 31, 2015
Computer equipment and capitalized software	$	13,893		$	10,192
Leasehold improvements	3,052			2,096
Furniture and other equipment	848			432
Aircraft and automobile	1,988			23
Projects in progress	2,438			3,612
Total gross property and equipment	22,219			16,355
Accumulated depreciation	(8,820		)	(6,940		)
Total property and equipment, net	$	13,399		$	9,415

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of balance of goodwill and intangible assets, net

The balance of goodwill and intangible assets, net is as follows (in thousands):



	September 30, 2016			December 31, 2015
Goodwill	$	487,095		$	486,720
Accumulated impairment losses	(483,088		)	(483,088		)
Net goodwill	$	4,007		$	3,632

Intangible assets with indefinite lives	$	10,142		$	10,142
Intangible assets with definite lives, net	5,087			850
Total intangible assets, net	$	15,229		$	10,992

Schedule of intangible assets with definite lives

Intangible assets with definite lives relate to the following (in thousands):



	Cost		Accumulated Amortization			Net
Technology	$	400	$	(44	)	$	356
Customer lists	4,900		(356		)	4,544
Other	1,287		(1,100		)	187
Balance at September 30, 2016	$	6,587	$	(1,500	)	$	5,087



	Cost		Accumulated Amortization			Net
Customer lists	$	1,000	$	(150	)	$	850
Other	1,087		(1,087		)	—
Balance at December 31, 2015	$	2,087	$	(1,237	)	$	850

Schedule of amortization of intangible assets with definite lives for the next five years



	Amortization Expense
Remainder of current year	$	166
Year ending December 31, 2017	664
Year ending December 31, 2018	664
Year ending December 31, 2019	586
Year ending December 31, 2020	530
Thereafter	2,477
Total intangible assets with definite lives, net	$	5,087

STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of non-cash compensation expense related to equity awards

Non-cash compensation related to equity awards is included in the following line items in the accompanying consolidated statements of operations and comprehensive income (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Cost of revenue	$	29	$	24	$	99	$	68
Selling and marketing expense	737		425		2,118		1,080
General and administrative expense	1,072		1,178		3,511		3,909
Product development	510		351		1,682		1,176
Restructuring and severance	—		—		—		138
Total non-cash compensation	$	2,348	$	1,978	$	7,410	$	6,371

Summary of changes in outstanding stock options

A summary of changes in outstanding stock options is as follows:



	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value^(a)
			(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2016	1,918,182		$	18.85
Granted ^(b)	73,639		75.20
Exercised	(2,199	)	42.04
Forfeited	(6,329	)	74.48
Expired	—		—
Options outstanding at September 30, 2016	1,983,293		20.74		5.37	$	151,223
Options exercisable at September 30, 2016	973,407		$	9.75	2.90	$	84,906

(a)

(b)

Schedule of stock option valuation assumptions



Expected term ⁽¹⁾	5.22 - 6.38 years
Expected dividend ⁽²⁾	—
Expected volatility ⁽³⁾	48% - 53%
Risk-free interest rate ⁽⁴⁾	1.10% - 1.90%


(1)	The expected term of stock options granted was calculated using the 'Simplified Method', which utilizes the midpoint between the weighted average time of vesting and the end of the contractual term. This method was utilized for the stock options due to a lack of historical exercise behavior by the Company's employees.


(2)	For all stock options granted in 2016, no dividends are expected to be paid over the contractual term of the stock options, resulting in a zero expected dividend rate.


(3)	The expected volatility rate is based on the historical volatility of the Company's common stock.


(4)	The risk-free interest rate is specific to the date of grant. The risk-free interest rate is based on U.S. Treasury yields for notes with comparable expected terms as the awards, in effect at the grant date.

Schedule of changes in outstanding non-vested RSUs and restricted stock

A summary of the changes in outstanding nonvested restricted stock units ("RSUs") and restricted stock is as follows:



	RSUs
	Number of Units		Weighted Average Grant Date Fair Value
			(per unit)
Nonvested at January 1, 2016	237,377		$	43.13
Granted	68,884		73.81
Vested	(133,255	)	33.17
Forfeited	(17,452	)	57.12
Nonvested at September 30, 2016	155,554		$	63.68



	Restricted Stock
	Number of Shares		Weighted Average Grant Date Fair Value
			(per share)
Nonvested at January 1, 2016	68,762		$	23.60
Granted	—		—
Vested	(35,297	)	20.62
Forfeited	—		—
Nonvested at September 30, 2016	33,465		$	26.73

Schedule of changes in outstanding nonvested RSUs with performance conditions

A summary of the changes in outstanding nonvested RSUs with performance conditions is as follows:



	RSUs with Performance Conditions
	Number of Units	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at January 1, 2016	—	$	—
Granted	44,052	83.92
Vested	—	—
Forfeited	—	—
Nonvested at September 30, 2016	44,052	$	83.92

SEGMENT INFORMATION SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Schedule of mortgage and non-mortgage product revenue

Mortgage and non-mortgage product revenue is as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Mortgage products	$	53,523	$	44,171	$	164,571	$	118,367
Non-mortgage products	41,035		25,633		118,990		57,508
Total revenue	$	94,558	$	69,804	$	283,561	$	175,875

DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 30, 2016

DISCONTINUED OPERATIONS

Schedule of revenue and net income (loss) of the discontinued operations

The revenue and net loss reported as discontinued operations in the accompanying consolidated statements of operations and comprehensive income are as follows (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Revenue	$	1,834		$	1		$	1,835		$	4

Loss before income taxes	$	(1,021	)	$	(1,343	)	$	(4,640	)	$	(3,369	)
Income tax benefit	357			48			1,623			131
Net loss	$	(664	)	$	(1,295	)	$	(3,017	)	$	(3,238	)

Lending Tree Loans

DISCONTINUED OPERATIONS

Schedule of the number of loans sold and the original issue balance

The following table represents the remaining unsettled loans.



	Number of Loans		Original Issue Balance
	(in thousands)		(in billions)
Loans sold by HLC	234		$	38.9
Subsequent settlements	(172	)	(28.8		)
Remaining unsettled loans as of September 30, 2016	62		$	10.1

Schedule of activity related to loss reserves on previously sold loans

The activity related to loss reserves on previously sold loans is as follows (in thousands):



	Three Months Ended September 30,					Nine Months Ended September 30,
	2016			2015		2016			2015
Loan loss reserve, beginning of period	$	8,127		$	8,750	$	8,127		$	8,750
Provisions ^(a)	(1,834		)	—		(1,834		)	—
Charge-offs to reserves	—			—		—			—
Loan loss reserve, end of period	$	6,293		$	8,750	$	6,293		$	8,750

RESTRICTED CASH RESTRICTED CASH (Details - Balance Sheet) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Restricted Cash and Cash Equivalents
Restricted cash and cash equivalents	$ 4,091		$ 6,541
Cash and cash equivalents	176,925	$ 106,251	206,975	$ 86,212
Decrease in restricted cash	2,450	$ 95
Cash in Escrow for Surety Bonds
Restricted Cash and Cash Equivalents
Restricted cash and cash equivalents	0		2,453
Decrease in restricted cash	(2,500)
Cash in escrow for sale of LendingTree Loans
Restricted Cash and Cash Equivalents
Restricted cash and cash equivalents	4,032		4,028
Other Restricted Cash and Cash Equivalents
Restricted Cash and Cash Equivalents
Restricted cash and cash equivalents	59		$ 60
Discover \| Lending Tree Loans
Restricted Cash and Cash Equivalents
Restricted cash and cash equivalents	$ 4,000

BUSINESS ACQUISITION BUSINESS ACQUISITION (Details) - USD ($) $ in Thousands		9 Months Ended
	May 31, 2016	Sep. 30, 2016
Business Acquisition
Cash consideration for business acquisition	$ 5,000
Business acquisition purchase price funded with cash on hand	4,500
Business acquisition purchase price, hold-back	500
Acquisition-related costs		$ 100
Allocation of the purchase price to accounts receivable	125
Allocation of the purchase price to intangible assets with definite lives	$ 4,500
Weighted average useful life of acquired intangible assets with definite lives	9 years 2 months
Allocation of the purchase price to goodwill	$ 375

PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Property and equipment
Property and equipment, gross	$ 22,219	$ 16,355
Accumulated depreciation of property and equipment	(8,820)	(6,940)
Property and equipment, net	13,399	9,415
Computer equipment and capitalized software
Property and equipment
Property and equipment, gross	13,893	10,192
Leasehold improvements
Property and equipment
Property and equipment, gross	3,052	2,096
Furniture and other equipment
Property and equipment
Property and equipment, gross	848	432
Aircraft and automobile
Property and equipment
Property and equipment, gross	1,988	23
Projects in progress
Property and equipment
Property and equipment, gross	$ 2,438	$ 3,612

GOODWILL AND INTANGIBLE ASSETS (Details - Balance Sheet) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 487,095	$ 486,720
Accumulated impairment losses	(483,088)	(483,088)
Net goodwill	4,007	3,632
Intangible assets with indefinite lives	10,142	10,142
Intangible assets with definite lives, net	5,087	850
Total intangible assets, net	$ 15,229	$ 10,992

GOODWILL AND INTANGIBLE ASSETS (Details - Definite Lived Intangibles) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Intangible assets with definite lives
Cost	$ 6,587	$ 2,087
Accumulated amortization	(1,500)	(1,237)
Total intangible assets with definite lives, net	5,087	850
Technology
Intangible assets with definite lives
Cost	400
Accumulated amortization	(44)
Total intangible assets with definite lives, net	356
Customer lists
Intangible assets with definite lives
Cost	4,900	1,000
Accumulated amortization	(356)	(150)
Total intangible assets with definite lives, net	4,544	850
Other
Intangible assets with definite lives
Cost	1,287	1,087
Accumulated amortization	(1,100)	(1,087)
Total intangible assets with definite lives, net	$ 187	$ 0

GOODWILL AND INTANGIBLE ASSETS (Details - 5yr Definite Lived Intangibles Amortization) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Amortization of intangible assets with definite lives computed on a straight-line basis
Remainder of current year	$ 166
2017	664
2018	664
2019	586
2020	530
Thereafter	2,477
Total intangible assets with definite lives, net	$ 5,087	$ 850

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details - Balance Sheet) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accrued expenses and other current liabilities
Accrued litigation liability	$ 736	$ 636
Accrued advertising expense	21,153	20,841
Accrued compensation and benefits	4,189	4,464
Accrued professional fees	1,884	711
Customer deposits and escrows	4,952	4,471
Other	4,805	3,762
Total accrued expenses and other current liabilities	$ 37,719	$ 34,885

SHAREHOLDERS' EQUITY (Details) - USD ($)	3 Months Ended		9 Months Ended
SHAREHOLDERS' EQUITY (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Feb. 25, 2016	Jan. 14, 2016	May 07, 2014	Jan. 11, 2010
Calculation of weighted average common shares
Weighted average common shares, basic	11,754,000	11,445,000	11,827,000	11,378,000
Effect of dilutive securities
Effect of stock options (in shares)	913,000	891,000	877,000	841,000
Effect of dilutive share awards (in shares)	75,000	153,000	78,000	160,000
Weighted average common shares, diluted	12,742,000	12,489,000	12,782,000	12,379,000
Anti-dilutive securities excluded from calculation of diluted earnings per share (in shares)			0
Common stock repurchases
Value of common stock authorized to be repurchased					$ 40,000,000	$ 50,000,000	$ 10,000,000	$ 10,000,000
Purchase of treasury stock (in shares)	3,591		690,218	5,250
Remaining authorized repurchase amount	$ 48,700,000		$ 48,700,000

STOCK-BASED COMPENSATION (Details - P&L Impact) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Non-cash compensation expense related to equity awards
Total non-cash compensation	$ 2,348	$ 1,978	$ 7,410	$ 6,371
Cost of revenue
Non-cash compensation expense related to equity awards
Total non-cash compensation	29	24	99	68
Selling and marketing expense
Non-cash compensation expense related to equity awards
Total non-cash compensation	737	425	2,118	1,080
General and administrative expense
Non-cash compensation expense related to equity awards
Total non-cash compensation	1,072	1,178	3,511	3,909
Product development
Non-cash compensation expense related to equity awards
Total non-cash compensation	510	351	1,682	1,176
Restructuring and severance
Non-cash compensation expense related to equity awards
Total non-cash compensation	$ 0	$ 0	$ 0	$ 138

STOCK-BASED COMPENSATION (Details - Stock Options Rollforward)	9 Months Ended
	Sep. 30, 2016 USD ($) $ / shares shares
STOCK-BASED COMPENSATION
Share Price	$ 96.91
Stock options, Grant Date Fair Value Valuation
Grant date fair value	$ 37.75
Aggregate stock options
Stock options, Shares
Outstanding at the beginning of the period (in shares) \| shares	1,918,182
Granted (in shares) \| shares	73,639
Exercised (in shares) \| shares	(2,199)
Forfeited (in shares) \| shares	(6,329)
Expired (in shares) \| shares	0
Outstanding at the end of the period (in shares) \| shares	1,983,293
Options exercisable at the end of the period (in shares) \| shares	973,407
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 18.85
Granted (in dollars per share)	75.20
Exercised (in dollars per share)	42.04
Forfeited (in dollars per share)	74.48
Expired (in dollars per share)	0.00
Outstanding at the end of the period (in dollars per share)	20.74
Options exercisable at the end of the period (in dollars per share)	$ 9.75
Stock options, Weighted Average Remaining Contractual Term
Outstanding at the end of the period	5 years 4 months 15 days
Options exercisable at the end of the period	2 years 10 months 25 days
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period \| $	$ 151,223,000
Options exercisable at the end of the period \| $	84,906,000
Stock options, Grant Date Fair Value Valuation
Expected dividends \| $	$ 0
Expected dividend rate	0.00%
Expected volatility, minimum	48.00%
Expected volatility, maximum	53.00%
Risk-free interest rate, minimum	1.10%
Risk-free interest rate, maximum	1.90%
Employee stock options
Stock options, Grant Date Fair Value Valuation
Vesting period	3 years
Director stock options
Stock options, Grant Date Fair Value Valuation
Vesting period	2 years
EmployeeStockOptionMember2
Stock options, Grant Date Fair Value Valuation
Vesting period	5 months
Minimum \| Aggregate stock options
Stock options, Grant Date Fair Value Valuation
Expected term	P5Y2M18D
Minimum \| Employee stock options
Stock options, Grant Date Fair Value Valuation
Grant date fair value
Maximum \| Aggregate stock options
Stock options, Grant Date Fair Value Valuation
Expected term	P6Y4M15D
Maximum \| Employee stock options
Stock options, Grant Date Fair Value Valuation
Grant date fair value
Tranche 1 \| Employee stock options
Stock options, Grant Date Fair Value Valuation
Vesting period	2 years
Award vesting rights, percentage	25.00%
Tranche 2 \| Employee stock options
Stock options, Grant Date Fair Value Valuation
Vesting period	3 years
Award vesting rights, percentage	75.00%

STOCK-BASED COMPENSATION (Details - RSA & RSU Rollforwards)	9 Months Ended
	Sep. 30, 2016 $ / shares shares
RSUs
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Number of Shares
Nonvested at the beginning of the period (in shares) \| shares	237,377
Granted (in shares) \| shares	68,884
Vested (in shares) \| shares	(133,255)
Forfeited (in shares) \| shares	(17,452)
Nonvested at the end of the period (in shares) \| shares	155,554
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share) \| $ / shares	$ 43.13
Granted (in dollars per share) \| $ / shares	73.81
Vested (in dollars per share) \| $ / shares	33.17
Forfeited (in dollars per share) \| $ / shares	57.12
Nonvested at the end of the period (in dollars per share) \| $ / shares	$ 63.68
Restricted stock
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Number of Shares
Nonvested at the beginning of the period (in shares) \| shares	68,762
Granted (in shares) \| shares	0
Vested (in shares) \| shares	(35,297)
Nonvested at the end of the period (in shares) \| shares	33,465
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share) \| $ / shares	$ 23.60
Granted (in dollars per share) \| $ / shares	0.00
Vested (in dollars per share) \| $ / shares	20.62
Nonvested at the end of the period (in dollars per share) \| $ / shares	$ 26.73

STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION (Details - RSUs with performance conditions) - Performance Shares [Member]	9 Months Ended
	Sep. 30, 2016 $ / shares shares
STOCK-BASED COMPENSATION
Award vesting rights, percentage	100.00%
Vesting period	2 years 4 months
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Number of Shares
Nonvested at the beginning of the period (in shares) \| shares	0
Granted (in shares) \| shares	44,052
Nonvested at the end of the period (in shares) \| shares	44,052
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share) \| $ / shares	$ 0.00
Granted (in dollars per share) \| $ / shares	83.92
Nonvested at the end of the period (in dollars per share) \| $ / shares	$ 83.92
Tranche 1
STOCK-BASED COMPENSATION
Award vesting rights, percentage	33.30%
Vesting period	4 months
Tranche 2
STOCK-BASED COMPENSATION
Award vesting rights, percentage	33.30%
Vesting period	1 year 4 months
Tranche 3
STOCK-BASED COMPENSATION
Award vesting rights, percentage	33.40%
Vesting period	2 years 4 months

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income tax expense	$ (6,729)	$ (389)	$ (15,099)	$ (968)
Effective tax rates (as a percent)	48.00%	5.00%	39.40%	4.80%
Federal statutory income tax rate (as a percentage)			35.00%	35.00%

REVOLVING CREDIT FACILITY REVOLVING CREDIT FACILITY (Details)	Oct. 22, 2015 USD ($)
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving Credit Facility, current borrowing capacity	$ 125,000,000.0
Revolving Credit Facility, term	5 years
Revolving Credit Facility, conditional increase to borrowing capacity	$ 50,000,000.0
Revolving Credit Facility, collateral, percent of assets	100.00%
Revolving Credit Facility, collateral, percent of equity	100.00%
Revolving Credit Facility, letter of credit fronting fee percentage	0.125%
Fees and expense paid to lenders at closing	$ 1,200,000
Swingline Facility [Member]
Line of Credit Facility [Line Items]
Revolving Credit Facility, current borrowing capacity	10,000,000.0
Letters of Credit [Member]
Line of Credit Facility [Line Items]
Revolving Credit Facility, current borrowing capacity	$ 10,000,000.0
Federal Funds Effective Swap Rate [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	0.50%
London Interbank Offered Rate (LIBOR) [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	1.00%
Minimum \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving Credit Facility, unused capacity, commitment fee percentage	0.25%
Revolving Credit Facility, letter of credit participation fee percentage	2.00%
Minimum \| London Interbank Offered Rate (LIBOR) [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	2.00%
Minimum \| Base Rate [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	1.00%
Maximum \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving Credit Facility, unused capacity, commitment fee percentage	0.50%
Revolving Credit Facility, letter of credit participation fee percentage	3.00%
Maximum \| London Interbank Offered Rate (LIBOR) [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	3.00%
Maximum \| Base Rate [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	2.00%

CONTINGENCIES (Details)				1 Months Ended			3 Months Ended	6 Months Ended	12 Months Ended
CONTINGENCIES (Details)	Oct. 24, 2016 regulator	Oct. 14, 2011 regulator	Sep. 08, 2010 patent	Jun. 30, 2016 USD ($)	Jul. 31, 2015 USD ($)	Jul. 31, 2014 USD ($)	Sep. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2015 USD ($)	Sep. 30, 2014 USD ($)	Mar. 12, 2014 patent
Contingencies
Accrued litigation liability							$ 736,000			$ 636,000
Massachusetts Division of Banks \| Unfavorable regulatory action
Contingencies
Accrued litigation liability							500,000
Number of Joining Regulators \| regulator		34
Massachusetts Division of Banks \| Unfavorable regulatory action \| Subsequent Event [Member]
Contingencies
Number of Joining Regulators \| regulator	0
Pending litigation or appeal \| Lijkel Dijkstra v. Harry Carenbauer, Home Loan Center, Inc
Contingencies
Litigation loss					$ 389,500	$ 2,800,000
Pending litigation or appeal \| Residential Funding Company
Contingencies
Accrued litigation liability							3,000,000
Pending litigation or appeal \| Lending Tree v. Zillow, Inc.
Contingencies
Accrued litigation liability							0
Number of patents found not infringed upon \| patent												2
Litigation loss								$ 1,100,000	$ 2,300,000
Number of patents alleged infringement upon, maximum \| patent			2
Pending litigation or appeal \| Next Advisor
Contingencies
Accrued litigation liability							100,000
Pending litigation or appeal \| Lehman Brothers Holdings, Inc. Demand Letter
Contingencies
Accrued litigation liability							1,000,000
Settled litigation \| Lijkel Dijkstra v. Harry Carenbauer, Home Loan Center, Inc
Contingencies
Litigation loss				$ 1,900,000
Change in litigation liability							1,300,000
Minimum \| Massachusetts Division of Banks \| Unfavorable regulatory action
Contingencies
Estimated range of remaining possible losses due to loan losses							500,000
Maximum \| Massachusetts Division of Banks \| Unfavorable regulatory action
Contingencies
Estimated range of remaining possible losses due to loan losses							6,500,000
Maximum \| Pending litigation or appeal \| Lending Tree v. Zillow, Inc.
Contingencies
Estimated range of remaining possible losses due to loan losses											$ 9,700,000
Discontinued Operations, Disposed of by Sale [Member]
Contingencies
Accrued litigation liability							$ 4,000,000			$ 3,600,000

SEGMENT INFORMATION SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Information
Revenue	$ 94,558	$ 69,804	$ 283,561	$ 175,875
Mortgage Products [Member]
Segment Information
Revenue	53,523	44,171	164,571	118,367
Non-mortgage Products [Member]
Segment Information
Revenue	$ 41,035	$ 25,633	$ 118,990	$ 57,508

DISCONTINUED OPERATIONS (Details-Disposal Groups) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Jun. 06, 2012
DISCONTINUED OPERATIONS
Cash and cash equivalents	$ 176,925	$ 106,251	$ 176,925	$ 106,251	$ 206,975	$ 86,212
Revenue and net income (loss) of discontinued operations
Revenue	1,834	1	1,835	4
Loss before income taxes	(1,021)	(1,343)	(4,640)	(3,369)
Income tax benefit	357	48	1,623	131
Loss from discontinued operations	(664)	$ (1,295)	(3,017)	$ (3,238)
Assets and liabilities of facilities reported as discontinued operations
Current assets	0		0		110
Non-current assets of discontinued operations	4,142		4,142		4,142
Current liabilities	(11,978)		(11,978)		(13,401)
Non-current liabilities	$ (27)		$ (27)		$ (26)
Lending Tree Loans \| Discover
DISCONTINUED OPERATIONS
Asset Purchase Agreement Proceeds From Sale							$ 55,900

DISCONTINUED OPERATIONS (Details - Loan Loss Obligations) $ in Thousands			3 Months Ended				9 Months Ended			51 Months Ended
	Oct. 15, 2015 USD ($)	Jun. 07, 2012	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Dec. 31, 2014 USD ($)	Jun. 30, 2012 investor	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2014 investor	Sep. 30, 2016 USD ($) loan	Sep. 30, 2016 USD ($) loan	Dec. 31, 2015 USD ($)	Sep. 30, 2015 USD ($)	Dec. 31, 2014 USD ($)	Jun. 06, 2012 USD ($) loan
Loan Loss Obligations
Restricted cash and cash equivalents											$ 4,091	$ 6,541
Cash and cash equivalents											176,925	206,975	$ 106,251	$ 86,212
Increase (Decrease) in Restricted Cash							$ (2,450)	$ (95)
Cash and Cash Equivalents, Period Increase (Decrease)							(30,050)	20,039
Lending Tree Loans \| Discontinued operations
Loan Loss Obligations
Number of investors to whom loans are guaranteed \| investor									2
Loan loss obligations \| Lending Tree Loans
Loan Loss Obligations
Number of loans sold with losses \| loan															234,000
Original principal balance of loans sold															$ 38,900,000
Settlement value of indemnification claim and other miscellaneous items	$ 600				$ 5,400					$ (28,800,000)
Activity related to loss reserves on previously sold loans
Loss Contingencies, Remaining Unsettled Loans											10,100,000
Loan loss obligations \| Lending Tree Loans \| Discontinued operations
Loan Loss Obligations
Loss Contingencies, Settlement, Number of Buyers of Previously Purchased Limited Documentation Loans						2				(172,000)
Loan loss reserve, at carrying value			$ 8,127	$ 8,750	8,750		8,127	8,750		$ 6,293	$ 6,293	$ 8,127	$ 8,750	$ 8,750
Activity related to loss reserves on previously sold loans
Loan loss reserve, beginning of period			8,127	8,750			8,127	8,750
Provisions (a)			(1,834)	0			(1,834)	0
Charge-offs to reserves			0	0			0	0
Loan loss reserve, end of period			$ 6,293	$ 8,750	$ 8,750		$ 6,293	$ 8,750		$ 6,293
Loss Contingencies, Number of Unsettled Loans Remaining \| loan											62,000
Discover Bank \| Lending Tree Loans
Loan Loss Obligations
Restricted cash and cash equivalents											$ 4,000
Investor One [Member] \| Loan loss obligations \| Lending Tree Loans
Loan Loss Obligations
Loss Contingencies, Number of Loans Sold to one investor		10.00%
Loss Contingencies, Percentage of the Original Loan Issue Balance		12.00%
Investor Two [Member] \| Loan loss obligations \| Lending Tree Loans
Loan Loss Obligations
Loss Contingencies, Number of Loans Sold to one investor		40.00%
Minimum \| Loan loss obligations \| Lending Tree Loans \| Discontinued operations
Loan Loss Obligations
Estimated range of remaining possible losses due to loan losses											4,400
Maximum \| Loan loss obligations \| Lending Tree Loans \| Discontinued operations
Loan Loss Obligations
Estimated range of remaining possible losses due to loan losses											$ 7,900