Lend America, a non-depository FHA lender based in Melville, N.Y., expects its origination volume to increase by almost 80% this year to $2.5 billion. The privately held company - which also will announce a new product launch this week - forecasts its servicing portfolio will grow to $1.5 billion by year-end, compared to just $223 million at the end of December 2008. Lend America is headquartered in an office building which once housed executives for American Home Mortgage, a non-depository alt-A and conventional lender/servicer that went bankrupt in the summer of 2007. A spokesman for the company provided the estimates to MortgageWire. Lend America uses warehouse lines to finance its production.
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