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Friday, August 14, 2009

FBI Raids Taylor Bean and Whitaker Mortgage Giant

I really need to start watching the local news channels. Taylor Bean and Whitaker, a mortgage giant, and major lender of FHA mortgages was closed down on August 5th, and raided by the FBI. Seems there may have been some fraud, on their part. So why do I care? Because my mortgage is with this company. How did I find out? I went to their website to pay the mortgage, like I do every month, and very quickly saw the problem, we were unable to even make a payment. My husband sent an email, as were the instructions, and we waited. Well several days later, and we still did not get a response. I did not want to pay late, but people on forums were saying to be careful, the new owner Bank of America may say they never got your payment, to just wait until Bank of America sent you a welcome letter. I really did not think that was a good option either, so we did some searching. I found one article on the 12th stating that TBW were ordered to stop foreclosing on homes. How can they even be foreclosing when their business was ordered to stop operations on the 4th. Now that does not directly effect us, because we always pay the mortgage before anything else, but it still sounds not nice. My husband said he was going to call HUD, to see if they knew anything. After 45 min on hold, he finally got to speak to someone. Obviously they have been flooded with calls, because all my husband had to say was mortgage with TBW, and they immediately told him to send his payment, with TBW account number to:

Bank of America
Payment processing
PO Box 10334
Van Nuys, CA 91410-0334

If you need to call HUD, their number is 888-297-8685

Whew what a relief, we got the payment right out in the mail, and I am relieved to have gotten an answer without waiting too long. If you have a mortgage with Taylor Bean and Whitaker, be on the alert. On a even sadder note, all of the employees have been let go, that is over 1,000 in Ocala alone. A sad day for a already distressed job market.



1 comment:

Wilson said...
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