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Private company

Lend America

American mortgage company

Lend America was an American mortgage lending company based on Melville, New York that operated until it was closed in 2009. The company used cable television infomercials and toll-free numbers to promote its services which include refinancing of mortgages with fixed-rate loans guaranteed by the Federal Housing Administration. Between 2008 and 2009, the company originated around 11,300 FHA-backed loans, ranking it No. 22 among FHA lenders by volume.2 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

  • Industryfinancial services1

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Lend America was an American mortgage lending company based on Melville, New York that operated until it was closed in 2009. The company used cable television infomercials and toll-free numbers to promote its services which include refinancing of mortgages with fixed-rate loans guaranteed by the Federal Housing Administration.2

How it started

Paid Advertisement Controversy in New York City

On March 26, 2008, the company aired a half-hour paid advertisement on WNBC, the NBC owned-and-operated station in New York City. The station scrapped the airing of Access Hollywood for the airtime of the ad. Joe Avellar, a former reporter at the station who was later dropped by the station in 2006 and went to WCBS-AM in 2007 appeared in the ad.

Later on March 27, 2008, the station spokeswoman told the New York Daily News that the spot would not be seen again in the near future. Frank Comerford who was the general manager of the station, resigned on March 31, 2008 due to the controversy and was succeeded by Tom O' Brien a day after.

Complaint by the US government relating to practices of fraud

On October 20, 2009, The United States Attorney General filed a civil complaint against Lend America, seeking a court-ordered injunction to prevent the company from making loans insured by the Federal Housing Administration (“FHA”) and also seeking relief against Lend America’s Executive Vice President and Chief Business Strategist, Michael Ashley. The complaint alleges that Lend America falsely certified to HUD that borrowers who received over $14 million in loans met HUD’s lending requirements when, in fact, the company knew they did not. In addition, the complaint documents some 40 borrower examples where Lend America made up incomes or otherwise submitted fraudulent loans to the FHA.

In connection with the complaint, The United States Department of Housing and Urban Development's Mortgagee Review Board informed the company, that it has uncovered numerous violations of the Federal Housing Administration's (FHA) origination and underwriting requirements, including submitting false certifications and failing to document the borrower's income and creditworthiness. A court judgment was issued on March 3, 2010, permanently banning Lend America from the FHA and from doing business in the industry. It ended a five-month process that began when the Department of Housing and Urban Development's (HUD) Mortgagee Review Board declared that its parent company, Ideal Mortgage Bankers, committed 12 FHA violations, including origination and underwriting requirements.

From Wikipedia’s article on Lend America, shared under CC BY-SA 4.0.2

Sources

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