Taylor Bean closes lending operations
Taylor, Bean & Whitaker, one of the country’s largest FHA-insured mortgage lenders and the company behind ICBA Mortgage, closed its lending operations on August 5, a day after the Federal Housing Administration suspended the company from originating and underwriting new loans. Ginnie Mae had also announced it would terminate Taylor Bean as an issuer of its mortgage-backed securities. The Ocala, Fla.-based Taylor Bean had been associated with Colonial BancGroup, Inc., Montgomery, Ala., the $25-billion bank that failed August . . .
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