Large Florida Mortgage Lender Stops Loans

Taylor, Bean & Whitaker halted all mortgage loan funding today in result of a federal investigation. Federal authorities had called the company to close loans which were insured by the Federal Housing Administration. In addition to the FHA suspending the firm, Ginnie Mae cut off Taylor, Bean & Whitaker from its mortgage-backed securities program. Mortgage fraud is running rampant in large-level organizations in today’s business age and its affecting consumers directly. The lender based out of Ocala did not submit a mandatory report which led to the investigation and eventual shutdown.

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