Lend America laid off roughly 550 workers on Tuesday, and already we're hearing reports that several are plotting their next career move in mortgages. "A few plan to start up their own thing," one Lend America source said. Company executive Michael Ashley is still arriving for work at the nonbank along with a skeleton crew. We still haven't heard word on what will happen to the GNMA servicing rights that the company controlled. Also, there is talk that FHA is eyeing other so called "sloppy" lenders that work in the Long Island market...
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