Schumer urges FHA to complete Lend America loans

NEW YORK Dec 2 (Reuters) - U.S. Senator Charles Schumer on Wednesday urged the Federal Housing Administration to make sure borrowers approved for an FHA loan by Lend America can still get a mortgage after it disqualified the lender.

Lend America, the largest lender of FHA-backed loans in the New York metro area, closed its doors on Tuesday after the government on Monday withdrew its approval to make loans.

The FHA, citing abuses that included submitting false documents and making loans that did not meet requirements, imposed civil money penalties of $512,500 against Ideal Mortgage Bankers, which does business as Lend America. (Editing by James Dalgleish) ((albert.yoon@thomsonreuters.com; Tel: +1 646-223-6347; Reuters Messaging: albert.yoon.reuters.com@reuters.net))