Melville, N.Y.-based Lend America on Thursday said it hopes its new wholesale lending platform will be accepting its first loan in mid-October. The company said the channel would have 25 geographically focused teams as part of its centralized operations. It also will have more than 30 Federal Housing Administration direct endorsed underwriters. "We think there's an opportunity now to revisit the wholesale market," said chief business strategist Michael Ashley in the Sept. 30 special edition of National Mortgage News.
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