MELVILLE, N.Y., Nov. 30 /PRNewswire/ -- Lend America today commented on The Federal Housing Administration (FHA) withdrawing its FHA-approval from Ideal Mortgage Bankers.

The Company's Statement:

"The Company is surprised and disappointed by today's action by the U.S. Department of Housing and Urban Development's Mortgagee Review Board. The Company is currently reviewing all possible options and remedies in response to this action, and will respond shortly once a decision has been reached."

About Lend America

Lend America, a National Mortgage Banking Organization, has proudly served the residential mortgage marketplace for over 20 years. The Company is one of the most successful direct to consumer lenders in the United States and is one of the region's largest and most well known FHA direct lenders and is a GNMA approved mortgage backed securities issuer. In addition, the Company has a wholesale lending platform for quality mortgage brokers, a correspondent lending platform for FHA direct endorsed lenders and a direct-to-investor exit strategy solution to help leading Wall Street firms and hedge funds quickly monetize their residential mortgage portfolios. The Company offers a wide range of home purchase and refinance programs to meet their clients' individual requirements. Lend America employs approximately 600 employees and is located at 520 Broadhollow Road, Melville, New York, 11747. For more information on Lend America, visit www.lendamerica.com.

SOURCE Lend America

RELATED LINKS
http://www.lendamerica.com