TBW has been a major  pain in the sides of many (and I mean MANY) Loan officers and Realtors in the last 8 months. TBW has had funding issues, underwriting issues and much more.....but they now face a near shut down at the hands of FHA and GNMA.  TBW was the 3rd largest FHA Lender YTD.

Check with your Loan officer and make sure you don't have any files with them, if so you may want to look at moving them, and fast!

Thanks for reading

Travis 

Please read the article below from James R Hagerty and Lingling Wei from the Wall Street Journal

By JAMES R. HAGERTY and LINGLING WEI

The Federal Housing Administration Tuesday suspended Taylor, Bean & Whitaker Mortgage Corp. from making loans insured by the federal agency, knocking out one of the biggest FHA lenders at least temporarily.

The FHA said the Ocala, Fla.-based 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.

Taylor Bean was the 12th largest U.S. mortgage lender in the first six months of this year, according to Inside Mortgage Finance, a trade publication. Among originators of FHA loans, Taylor Bean was the third largest in May, with a market share of 4%, according to the publication. Only Bank of America Corp. and Wells Fargo & Co. were larger.

Taylor Bean's woes are a major blow for hundreds of brokers and smaller mortgage banks that sell the loans they originate to the privately owned company. Those small mortgage companies will have to scramble to find new partners if they are to remain in the booming FHA lending business.

FHA loans have surged in popularity over the past two years as other sources of mortgage funding have dried up.

Lee B. Farkas, chairman of Taylor Bean, said in response to questions that he was unaware of the FHA action.

Ginnie Mae, a government agency that guarantees payments to holders of securities backed by FHA loans, said Taylor Bean is also barred from issuing securities backed by Ginnie. Ginnie said it will take control of nearly $25 billion of mortgage securities issued by Taylor Bean.

The moves came a day after federal agents raided the Florida offices of Colonial BancGroup Inc. and Taylor Bean. Taylor had been leading a group of investors that proposed to shore up Colonial by taking a stake in the Alabama-based bank but that transaction fell through last week amid heavy losses at Colonial.