More On Taylor Bean’s Collapse

This is kind of scary and also Fannie Mae put out an announcement that they will not allow any Taylor Bean loans unless they are re-underwritten.  If you have your mortgage with them you may have to worry about your taxes and insurance not being paid.  In Florida, the new tax bills come out in November so hopefully they fix it by then.  I will keep you informed as I learn more.

 

“Government regulators say Taylor Bean & Whitaker Mortgage Corp., the Florida mortgage lender that filed for bankruptcy last week, is holding hundreds of thousands of homeowners “hostage” by refusing to hand over their loan information.

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.”

http://online.wsj.com/article/SB125175219738273797.html?mod=rss_whats_news_us_business