WARNING - If you or anyone you know has a mortgage pending with Taylor Bean and Whitaker

Taylor Bean and Whitaker, (third largest FHA servicing lender in the country) has ceased operations effective immediately. They just sent out a press release. They will not be closing or funding ANY loans in their pipelines. They were simultaneously shut down by FHA, Freddie Mac and Ginne Mae. This is going to affect a great many loans in this area. They had a major branch in Braintree which serviced many brokers and lenders in this area.

If you applied and were approved for a mortgage with TBW or have a buyer on your home that is using TBW this loan will NOT close.  There will be no more loans funded.