Melville-Based Lend America: Ask What Your Country Can Do for You

Summary

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Long before the mortgage industry went into crisis, Lend America changed its plan of attack, and found an ally in Uncle Sam.

The Melville-based mortgage company, which formerly focused on subprime and Alt-A - between prime and subprime - loans, made the switch to government-insured loans 18 months ago. It was an act of foresight done long before the industry reached a boiling point, but thanks to 20 years of mortgage experience, Lend America Vice President and chief business strategist Michael Ashley sensed disaster was imminent.

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Melville-Based Lend America: Ask What Your Country Can Do for You

"The subprime market was reaching the point where it was getting way too aggressive," Ashley said. "I felt like it could only go on for so long."

So t...

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