Lend America, a Melville, NY-based Federal Housing Administration lender, will return to the wholesale lending space with a new business unit, Lend America Wholesale. Lend America left the wholesale market in 2008 and the company said it will begin originating residential mortgages in 47 states by mid-October. “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,” said Michael Ashley, Lend America chief business strategist. “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,” he added. Write to Austin Kilgore.
Most Popular Articles
The watchdog for Fannie Mae and Freddie Mac is interviewing Wall Street firms to handle a public offering that would dwarf any IPO in history, Fox says.
With companies like Opendoor, Zillow and Redfin, homebuyers and sellers were no longer limited to the traditional method when they decided to buy and sell their homes. But just how much of an impact are those iBuyers having on the market itself?