Taylor Bean & Whitaker OH BOY !!!!!

FHA SUSPENDS TAYLOR, BEAN & WHITAKER MORTGAGE CORP. AND PROPOSES TO SANCTION TWO TOP OFFICIALS:

On August 4, 2009, The Federal Housing Administration (FHA) suspended Taylor, Bean and Whitaker Mortgage Corporation (TBW) of Ocala, Florida, thereby preventing the Company from originating and underwriting new FHA-insured mortgages. The Government National Mortgage Association (Ginnie Mae) is also defaulting and terminating TBW as an issuer in its Mortgage-Backed Securities (MBS) program and is ending TBW's ability to continue to service Ginnie Mae securities. This means that, effective immediately, TBW will not be able to issue Ginnie Mae securities, and Ginnie Mae will take control of TBW's nearly $25 billion Ginnie Mae portfolio...

To read this press release in its entirety, please visit:

http://www.hud.gov/news/release.cfm?content=pr09-145.cfm&CFID=341752&CFTOKEN=3be7678-0009780b-078f-1636-b54a-80e8c12e0000

FHA-insured Loans Associated with Taylor, Bean and Whitaker (TBW) Questions and Answers for Consumers can be found at:

http://www.hud.gov/news/consumer-guidance.pdf

FHA-insured Loans Associated with Taylor, Bean and Whitaker (TBW) Questions and Answers for Lenders and Brokers can be found at:

http://www.hud.gov/news/industry-guidance.pdf

If you have any questions, please contact: info@fhaoutreach.com or visit:

http://www.fhaoutreach.gov/FHAFAQ

A portion of my time is devoted daily to searching for news and information pertaining to issues that I believe are important and relevant to the development of an appraisal assignment. It is my pleasure to share this information with you. Likewise if you have any news or information that you feel may be of value, or have questions regarding the appraisal process, please don't hesitate to contact me.


Sincerely,

Anthony M. Kanaris & Associates, Inc.

Anthony has allways brought good content to us.... Thank you