Posts tagged as:

taylor bean and whitaker

Freddie Mac to Suffer Big Losses From Bankrupt Firm

by Moe Bedard

Freddie Mac (FRE) said its additional losses related to the bankruptcy of Taylor, Bean & Whitaker Mortgage Corp. could be “significant.”
At the end of September, the giant mortgage lender, which federal regulators took control of a year ago, estimated its potential exposure related to Taylor Bean’s loan repurchase obligations at $500 million.

Freddie said Monday in [...]

0 comments Read the full article →

FDIC Says Taylor Bean Is Holding Homeowners ‘Hostage’

by Moe Bedard

Taylor Bean “is holding hostage hundreds of thousands of homeowners, and each day of delay is causing mounting and growing harm to individual homeowners” who are unable to get information related to their mortgage loans, the Federal Deposit Insurance Corp. said Friday in a bankruptcy court filing.

The FDIC, which is the receiver for Alabama’s recently [...]

0 comments Read the full article →

Taylor, Bean & Whitaker served with cease and desist orders

by Moe Bedard

Several states have filed cease and desist orders against Taylor, Bean & Whitaker Mortgage Corporation, one of the largest wholesale lenders in the country.
Apparently the issues involve Taylor Bean closing FHA loans in several states, but has failed to fund them. Florida, News Jersey, Massachusetts and several other states are prohibiting Taylor Bean from accepting new [...]

2 comments Read the full article →