Lend America says ceased mortgage originations

NEW YORK Dec 1 (Reuters) - Lend America, an independent residential loan company, on Tuesday said it ceased mortgage originations and operations.

The announcement on Lend America's website comes a day after the Federal Housing Administration pulled from the lender its approval for making government-backed loans.

The FHA, citing abuses, imposed civil money penalties of $512,500 against Ideal Mortgage Bankers, which does business as Lend America. The U.S. agency also said the U.S. Attorney's Office for the Eastern District of New York is pursuing a civil fraud injunction against Ideal and a senior manager.

(Reporting by Al Yoon; Editing by Padraic Cassidy)

((albert.yoon@thomsonreuters.com; +1 646-223-6347; Reuters Messaging: albert.yoon.reuters.com@reuters.net))