Lend America, Melville, N.Y., is further expanding its growing servicing efforts by launching a Fannie Mae servicing initiative. The retail lender, which produced over $450 million in new originations during the first quarter of this year, now expects it will be a $1 billion servicer by the end of the second quarter and a $2 billion servicer by year-end. Chief business strategist Michael Ashley said the $2 billion figure represents a 33% increase from the company's previous forecast. Lend America also is a Ginnie Mae servicer and already more than doubled its servicing portfolio in the first quarter 2009 to over $500 million compared to $223 million as of Dec. 31, 2008.
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