Taylor Bean and Whitaker Trouble: Continued Mortgage Bankruptcy Hearing Update

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Summary: Taylor Bean and Whitaker Trouble: Continued Mortgage Bankruptcy Hearing Update
Mortgage borrowers are scrambling for answers as their funds have been frozen; What do you do if you receive letters from two different mortgage servicing companies claiming that each one of them is going to service your Taylor Bean and Whitaker loan? We've received an update and past court documents from the United States Bankruptcy court detailing Taylor, Bean Whitaker trouble.

Taylor Bean and Whitaker Trouble: Continued Mortgage Bankruptcy Hearing Update

Taylor Bean & Whitaker Mortgage Company was a hugely successful mortgage origination and servicing company that was affiliated with Colonial BancGroup. On August 5, 2009, it was shut down. Taylor Bean & Whitaker Mortgage Company was based in Alabama, and did a tremendous amount of loan originations in Georgia and Florida. While we have reported a number of stories on the aftermath of the FDIC shutdown of Colonial BancGroup as well as the shutdown of Taylor Bean & Whitaker Mortgage Company after FHA declined to do business with it (following a pullback from Fannie Mae, Freddie Mac and Ginnie Mae), borrowers are growing frustrated with Taylor Bean Whitaker and are waiting for answers from the United States Government Bankruptcy Court.

We’ve learned that hundreds of thousands of mortgage borrowers are scrambling as their funds have been frozen; we were told that Taylor Bean Whitaker loans were to be ported over to Bank of America's Home Loan Services group and performing Freddie Mac loans were supposed to go to Cenlar, a legitimate loan servicing company. What do you do if you receive letters from two different mortgage servicing companies claiming that each one of them is going to service your Taylor Bean and Whitaker loan?

While the problems persist, we’ve just received news that the next Taylor Bean Whitaker hearing is scheduled for November 5th. For more information, you can take a look at the past hearing documents from the United States Bankruptcy Court.

For more information on Taylor Bean and Whitaker and continued mortgage troubles for borrowers, read our past articles.

Taylor Bean & Whitaker Customers Using ‘Equity Accelerator’ Program

Taylor Bean & Whitaker Mortgage Company Update From Sandra Sheley, Georgia Department of Banking and Finance

Taylor Bean and Whitaker: Answers for Taylor Bean and Whitaker Customers

Taylor Bean And Whitaker: Continuing Mortgage Lender Problems

Taylor Bean Whitaker Update: Deadline From Bankruptcy Court

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• mortgage lenders, 
• personal finance advice, 
• real estate advice, 
• taylor bean and whitaker mortgage company

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