Lend America Receives Approval For Ginnie Mae Issuer Status

Under goes extensive approval process to position itself to further help borrowers
- Significant proof point on quality and strength of business

Lend America, a leading privately-owned, direct-to-consumer residential mortgage lender with a core focus on originating government-insured loans, announced today it received approval to issue Government National Mortgage Association (Ginnie Mae) mortgage-backed securities (MBS). A Ginnie Mae security, which is a bundle of mortgages sold to investors and backed by the federal government, offers additional safety and liquidity and a higher yield over traditional treasury bonds, making them the most popular mortgage-backed security among investors.

“As one of America’s leading FHA lenders, we are very proud to become a Ginnie Mae approved issuer,” commented Helene Decillis Chief Operating Officer for Lend America. “Not only does this approval affirm the quality and strength of Lend America’s business, but it allows us to obtain better prices for our mortgages in the secondary market; thereby funding our ability to create additional loans to qualified, potential homeowners with more competitive terms.”

In order to become a qualified Ginnie Mae issuer, Lend America had to undergo a rigorous screening process to determine its suitability, specifically requiring the Company be an approved FHA mortgagee in good standing and possessing demonstrable experience and management capacity in underwriting, originating, and servicing mortgage loans.

To maintain Ginnie Mae Issuer status, Lend America must submit annual and quarterly financial reports to demonstrate its continued financial stability, as well as meet several other requirements. For more detailed information regarding Ginnie Mae Issuers, please visit http://www.ginniemae.gov/.

Mrs. Decillis added, “Almost three years ago, Lend America shifted its product mix away from sub-prime originations to focus primarily on FHA lending and is experiencing significant growth. By acquiring Ginnie Mae’s approval to issue mortgage-backed securities, Lend America is now in position to be a part of the solution for those borrowers who may have credit issues but are still qualified in this deteriorating credit and economic environment and drive continued profitable growth.”

About Lend America
Lend America, a National Mortgage Banking Organization and one of New York’s largest privately owned direct lenders, has proudly served the residential mortgage marketplace for over 20 years. The company is one of the most successful direct to consumer lenders in the United States and is the region’s largest and most well known FHA direct lenders and is a GNMA Mae approved mortgage backed securities Lend America is also the originator of successful nationwide broadcast television educational seminar programs, titled The Mortgage Loan Network. “MLN.” Lend America offers a wide range of home purchase and refinance programs to meet their clients’ individual requirements. Lend America employs approximately 600 employees and is located at 520 Broad Hollow Road, Melville, New York, 11747. For more information on Lend America, visit www.lendamerica.com

MEDIA CONTACTS:
John Lovallo
Lovallo Communications Group
Telephone: 203-431-0587
Cell 203-526-6371
Email: johnlovalloirpr@sbcglobal.net

Mary McPhail, Chief Marketing Officer
Lend America
Telephone: 631-944-6883
Email: mmcphail@LendAmerica.com