|
Attention Realtors:
If you have any buyers whose
loan is being underwritten by Taylor Bean and Whitaker, please be
advised that their closing
may be delayed, based on the below information. If you know
your buyer is securing FHA financing, it might not be a bad idea to
have them call their loan officer to find out what lender is
actually underwriting their loan to be on the safe side.
The below information is
directly from HUD's website.
FHA SUSPENDS TAYLOR, BEAN & WHITAKER MORTGAGE CORP. AND PROPOSES
TO SANCTION TWO TOP OFFICIALS
Ginnie Mae Issues Default Notice and Transfers Portfolio
WASHINGTON - The Federal Housing Administration (FHA) today
suspended Taylor, Bean and Whitaker Mortgage Corporation (TBW) of
Ocala, Florida, thereby preventing the Company from originating and
underwriting new FHA-insured mortgages. The Government National
Mortgage Association (Ginnie Mae) is also defaulting and terminating
TBW as an issuer in its Mortgage-Backed Securities (MBS) program and
is ending TBW's ability to continue to service Ginnie Mae
securities. This means that, effective immediately, TBW will not be
able to issue Ginnie Mae securities, and Ginnie Mae will take
control of TBW's nearly $25 billion Ginnie Mae portfolio.
Read More
We hope you find this information useful and
hopefully you will not be affected by this too much.
Please know that we are always here for you to
assist in any way we can!
Kathy Delbridge
 |
