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Ocala's Taylor, Bean & Whitaker suspended from making FHA loans

A national mortgage lender, Ocala's Taylor, Bean & Whitaker, was suspended Tuesday from making FHA mortgage loans. The move comes one day after its office was raided by federal agents. The FHA said the lender failed to submit a required annual financial report and to disclose to the FHA "certain irregular transactions that raised concerns of fraud." Taylor Bean has 30 days to appeal the suspension. Federal agents on Monday also raided Colonial Bank in Orlando, a weak Alabama-based institution that had cut a deal with Taylor Bean to receive $300 million in fresh capital. That deal collapsed last week.

Ocala's Taylor, Bean & Whitaker suspended from making FHA loans 08/04/09 [Last modified: Tuesday, August 4, 2009 5:30pm]
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