Ideal Mortgage Bankers Ltd., Melville, N.Y., is exiting its wholesale lending business, which operates under the name Ideal Mortgage, to concentrate on expanding Lend America, its retail lending platform. The company specializes in doing Federal Housing Administration products. "After conducting an extensive review of our wholesale operations and taking into consideration the inherent risk in the current environment and the direction of the mortgage industry, we have decided to exit the wholesale lending business after approximately a year in operation," said Michael Ashley, chief business strategist. "Our core competency has historically been as a direct-to-consumer retail lender, which is validated by the enormous success over the last two years of Lend America, our rapidly growing retail platform." Job losses as a result of the closing will be limited to outside account executives, Ideal said. Many employees will be redeployed within Lend America. Ideal said it will accept submissions until July 31, and will honor all commitments and close its wholesale pipeline in the normal course of business. The company can be found online at https://www.idealmb.com.
-
The fintech integrates with payroll systems of employers to arrange early access to earned wages for its customers.
7h ago -
Larger public companies' high-profile servicing acquisitions tend to get the spotlight, but the two top leaders in the Ginnie MSR market are quieter players currently run as private companies.
10h ago -
Hometap's product provides homeowners with cash in exchange for a share of their home's future value, but the company has been faced with legal challenges claiming deceptive marketing.
10h ago -
Mortgage apps fell 6% as rates hit a near three-year high, but ARM share reached its highest since October 2025 and 21% of listings saw price cuts, openings for buydown pitches.
10h ago -
ICE announced Wednesday the launch of Residential Whole Loan Evaluations, which extends its evaluated pricing process to individual, unsecuritized loans.
September 30 -
The rare critique co-filed by an industry trade group suggests mandatory detention of noncitizens is contributing to a slowdown in new home construction.
September 30









