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 [...]
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by Moe Bedard
Taylor, Bean & Whitaker Mortgage Corp., one of the country’s largest wholesale mortgage lenders, made the agreement following a multistate examination of its lending practices in 2006 of so-called exotic mortgages, including interest-only and adjustable-rate mortgages, state officials said.
The examination alleged loan originators altered income and asset information for prospective borrowers so the applicants would [...]
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