10 Aug 09 Mortgage Brokers Ailing from TBW Wholesale Closing
The impact on Taylor Bean and Whitaker closing their wholesale division has been tramatic for mortgage brokers across the country. Many mortgage companies used TBW for all their FHA home loans and this will hurt them. The loss of Taylor, Bean and Whitaker as a wholesale lender is a major blow to U.S. mortgage brokers who say it means loan applicants who were in process at the wholesaler will need to purchase new appraisals and potentially sit through new waiting periods. Taylor Bean disclosed Tuesday that it lost its FHA approval and that its Ginnie Mae servicing portfolio was seized. Read the original article posted on Lenders Nationwide>
Taylor Bean and Whitaker Closing Hurts Mortgage Brokers.
Tags: FHA approval, FHA home loans, mortgage brokers, Taylor Bean and Whitaker
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