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FHA suspends Taylor, Bean, & Whitaker Mortgage Corp. and proposes to sanction two top officials
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 TBW’s participation in its Mortgage-Backed Securities (MBS) program and is ending TBW’s Ginnie Mae loan servicing rights. 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.
FHA suspends Taylor, Bean, & Whitaker Mortgage Corp. and proposes to sanction two top officials
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 TBW’s participation in its Mortgage-Backed Securities (MBS) program and is ending TBW’s Ginnie Mae loan servicing rights. 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.
Baldwin Declares Bankruptcy, Saving Home from Foreclosure
Actor Stephen Baldwin, whose property at 71 Old Mountain Rd S, Nyack, NY was in foreclosure and was to go up for auction today , has instead filed for bankruptcy , according to ABC News. This means Baldwin will “… retain ownership of the 1.4-acre Old Mountain Road home , which they purchased in 1997 for $515,000, as bankruptcy proceedings go on,” according to LoHud.com. Baldwin has recently appeared as a contestant on TV’s I’m a Celebrity … Get Me Out of Here! See more celebrity foreclosure news .
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