Lend America Wholesale to operate through a centralized model to mitigate risk and drive efficiencies

MELVILLE, N.Y., Oct. 1 /PRNewswire/ -- Lend America, a leading next generation FHA lender, announced today that it is entering the wholesale residential mortgage lending business by launching Lend America Wholesale, to compliment its successful nationwide retail lending platform, and offer mortgage brokers and borrowers greater choice, knowledge and efficiency in the mortgage lending process. Lend America Wholesale anticipates accepting its first wholesale loan in mid October 2009.

Lend America Wholesale is built around a mission of responsible lending, with a clear focus on service and speed. The business is looking to build long-term relationships with high quality, skilled and credible mortgage brokers.

"A full blown reset has taken place within the wholesale lending channel since our parent company strategically exited the wholesale business in 2008. With wholesale lending platforms dwindling we believe today there is a tremendous opportunity to help mortgage brokers better meet borrowers' needs, increase close rates and rebuild their businesses," commented Michael Ashley, Chief Business Strategist of Lend America. "Through our innovative centralized model and systematic loan process, which address risk factors as well as time and cost inefficiencies in the lending value chain, we can quickly become a major resource for the mortgage brokerage community. In addition, we are able to build off our past experience to insure we are better equipped to meet the needs of the mortgage brokerage community. "

Lend America Wholesale will be based in Melville, New York and operate through a centralized model in order to better mitigate the risk associated with the wholesale lending process and improve the consistency and quality of the broker experience. Building on a base infrastructure of 25 geographic focused teams, more the 30 FHA Direct Endorsed underwriters and an automated paperless platform for all loan originations and processing, Lend America Wholesale will look to partner with mortgage brokers committed to extensive FHA product knowledge, ethical behavior, customer service and open and honest communication. The business is currently licensed to do business in 47 states.

Mr. Ashley added, "With our unparalleled leadership and technology platform, which brings the entire mortgage process into a single user friendly application, we believe we can help mortgage brokers build a better business. In addition, our wholesale team has the experience to offer real time solutions and train or answer questions on FHA products or loan processes in order to help our mortgage broker partners close loans faster. In the current challenging environment mortgage brokers need the right partner to be successful and we can definitely fill the void that is currently impacting the wholesale channel."

For more on Lend America Wholesale, please contact 1-800-707-Loan.

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 mortgage brokers and a direct-to-investor exit strategy solution to help leading Wall Street firms and hedge funds quickly monetize their residential mortgage portfolios. Lend America is the originator of the successful nationwide broadcast television educational seminar programs, titled The Mortgage Loan Network "MLN." 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

Back to top

RELATED LINKS
http://www.lendamerica.com