Items Tagged with 'Bean & Whitaker Mortgage Corp.'

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  • Colonial, Taylor Bean Woes Impact ABCP, RMBS Deals

    The misfortunes of Taylor, Bean & Whitaker Mortgage Corp. (TBW) and its warehouse lender Colonial Bank dragged Ocala Funding's asset-backed commercial paper (ABCP) program into the "vortex" of financial woes, according to commentary Monday by Moody's Investors Service.
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  • Taylor, Bean & Whitaker Files for Bankruptcy

    Taylor, Bean & Whitaker Mortgage Corp. filed for relief under Chapter 11 bankruptcy to focus on restructuring its operations and potential wind-down of its assets, the company said Monday. The mortgage lender will continue to operate on a scaled-down basis as it begins recovering, restructuring and possibly liquidating its assets.
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  • Taylor, Bean & Whitaker Ordered to Cease Foreclosures

    The Florida Office of Financial Regulation (OFR) on Friday issued an order to Taylor, Bean & Whitaker Mortgage Corp. (TBW) to cease and desist processing foreclosures and charging late payment fees. The order comes on the heels of a first cease-and-desist order issued August 7. OFR said TBW did not comply with some provisions of the first order, including a requirement to attempt to obtain funding or move loans out of its pipeline, and a request to provide relevant financial information for the assessment of its financial condition.
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  • Taylor, Bean & Whitaker Suspends Online, Debit Payments

    Taylor, Bean & Whitaker Mortgage Corp. (TBW) late Friday told borrowers it will no longer accept online payments or automatic payment deductions on mortgages it still services. In fact, Taylor, Bean & Whitaker has processed no automatic debit payments since August 4 and asked its borrowers to submit payments via direct mail.
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  • FHA Suspends Taylor, Bean & Whitaker

    [Update 2: Reflects Fitch's, Moody's rating outlook negative] The Federal Housing Administration (FHA) on Tuesday suspended Ocala-based Taylor, Bean & Whitaker Mortgage Corp. (TBW) from originating and underwriting new FHA-insured mortgages, resulting in a negative rating watch on its residential servicer ratings.
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  • Fitch Upgrades Taylor, Bean & Whitaker's Servicer Ratings

    Fitch Ratings said Friday that it had upgraded privately-held Taylor Bean & Whitaker Mortgage Corp.'s U.S. residential servicer ratings; the company's primary ratings to both prime and Alt-A loan products were raised to 'RPS3+' from 'RPS3.' Fitch rates servicers on a sliding scale between 1 and 5, with 1 being the highest rating.
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  • Community Banks Move into Mortgages; So, Too, Does Credit Crunch

    As the mortgage mess has rolled on, many community and regional banks have been using the downturn as a chance to build their mortgage origination business. Many local banks were relegated to an afterthought in the mortgage origination business during the housing boom, as larger Wall Street firms and national banks pushed the originate-and-sell models out to consumers. With many of those larger national players scaling back or exiting the business altogether, the playing field has changed dramatically.
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