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Division of Banks Announces Action against Taylor, Bean & Whitaker

BOSTON, MA - August 12, 2009 - (RealEstateRama) -- The Division of Banks issued a cease-and-desist order against Taylor, Bean & Whitaker Mortgage Corporation, one of the largest wholesale lenders in the country.On Tuesday, Aug. 4, the Federal Housing Administration announced that it had suspended Taylor Bean from originating any FHA-insured mortgages after allegations of financial misrepresentation and the failure to disclose a multi-state settlement agreement which included Massachusetts.

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AG Healey Secures $2 Million in Restitution for 20,000 Massachusetts Homeowners...

One of the nation’s largest mortgage servicers will pay $2 million in restitution to resolve allegations that it violated state law and committed unfair and deceptive practices by charging Massachusetts homeowners for unnecessary fees and overpriced force-placed insurance policies, Attorney General Maura Healey announced today