2009-08-04 — ml-implode.com
Taylor, Bean & Whitaker has been suspended from originating or underwriting FHA loans according to a press release by the Federal Housing Administration (FHA) today. The company was also terminated as a GNMA Seller-Servicer. One thing is for sure: the impact will be huge.
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Alexius12 at 06:44 2009-08-05 said:
http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090804006187&newsLang=en Fitch Ratings has placed Taylor Bean & Whitaker Mortgage Corp.'s (TBW) U.S. residential servicer rating(s) on Rating Watch Negative as follows: --Primary servicer rating for Prime product 'RPS3+'; --Primary servicer rating for Alt-A product 'RPS3+'. The rating actions are based on concerns regarding the ongoing Federal investigations into the company's operation. The servicer will remain on Rating Watch Negative until further clarification can be obtained regarding this matter. PermalinkDCMortgage2 at 22:49 2009-08-06 said:
We had a file just about to go to docs with TBW and now we have to take the file somewhere else and now there is going to be a per diem to the borrower since the file now has to be re-underwritten and won't close on time....the borrower had to pay for a 2nd appraisal since we couldn't get the appraisal transferred from TBW due to the HVCC rule and no one in wholesale was in the office to help us. I feel bad for the people that lost their jobs that had nothing to do with the problem they have. Sad sad times...... Permalinkadd a comment | go to forum thread
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