Lend America Mortgage Review
Lend America claims to be one of the “largest privately owned direct lenders” focusing their attention on originating FHA mortgages. We uncovered five phone numbers, their website, and a few customer complaints.
Lend America Website and Phone Contacts
Website: www.lendamerica.com
Phone: (631) 944-6800
(631) 944-6883
(631) 944-6191
(631) 944-6924
Fax Number: (631) 944-6100
Address: 520 Broadhollow Road, Melville, NY 11747
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Lend America Mortgage Review
Our review of Lend America Mortgage is not very favorable. I first came across Lend America was when I saw their TV ads using a “financial news” looking infomercial like pitch on FHA mortgages available. It seemed really cheesy to me.
These infomercial type commercials are designed to get the phone to ring…and this is no different. But I am always skeptical of “opportunistic” advertising. It should be noted that the review is about Lend America, which is not associated or affiliated with Prime Lend America in Florida; Lend America, Inc. in Denver Colorado, Lowlender.com , LendALot.com or Low.com.
Lend America is a direct lender and as I have discussed many times before this allows them to make SRP revenue without disclosure. For that reason alone, I can’t recommend them.
A news story is out how Lend America reached the $500 million in servicing assets as well. So they are now a big player in the servicing of government mortgages as well as originating them.
NOTE: If you are mortgage shopping and and need information on how to avoid direct lenders, check out our book, The Mortgage Advantage
It appears when I search for mortgage complaints against Lend America there are some. Click the link to see all the Lend America complaintslisted in Google.
Recent News on Lend America
News Update: October 21, 2009:
The Wall Street Journal online is reporting the Fed’s are alleging mortgage fraud is being committed by Lend America in that they content the company is knowingly approving unworthly borrowers for FHA loans.
“The company was taken by surprise, expects to continue in business and will respond more completely once all allegations are reviewed,” Lend America spokesman John Lovallo said in a statement.
BBB Activity on Lend America
“Based on BBB files, this business has a satisfactory record with the Bureau. A “satisfactory record” means that a company has been in business for at least 12 months, and has properly addressed complaints referred to it by the Bureau. BBB processed a total of 13 complaints about this company in the last 36 months…”
BBB DBA’s:
Consumer First
Ideal Mortgage Bankers, Ltd.
Lending Key
See Comments Below to Add/Read Customer Opinions On Lend America
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Thanks!
Author: The Mortgage Insider
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Two people from this company were just arrested for mortgage fraud. Some guy Dorian Brown and Fritz Bonaventure. Unbelievable how they are still in business…sad to see.
Why can’t I post a reply?
It seems as if you can. However, all comments are moderated so your comment must pass moderation to be published.
I am currently going through hell with Lend America. They took my money for the appraiser then claimed that they never received a report. If I didn’t keep detail records then they would have gotten away with it. I resent my personal information to them countless times and the representative Jason Opanike is herrassing me with calls of promises yet every call I get is in response to what they can’t do. I signed the contract for 5/5% interest rate and now they are dancing around this agreement. I am frustrated and do not know what to do. I’ve already lost money that I don’t have and have to deal with their lies that my paperwork is in underwriting yet it was never sent to that department. I have numerous e-mail conversations with them where they are contradicting themselves. HELP… they need to be sued!
Lend America is one of the worse I’ve dealt with in 26 years of being a real estate broker, and having been involved in over 10,000 trasactions. Terrible communication, promised the buyer the world, then didn’t deliver.
May I see some of the complaints?
Barry,
The link is above in the Review marked “Lend America complaints”….