twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


BoA Completes Acquisition of TBW Servicing

180,000 accounts transferred

Aug. 27, 2009

By MortgageDaily.com staff


The process of transferring servicing from Taylor, Bean and Whitaker Mortgage Corp. to Bank of America Corp. has been completed.

Taylor Bean was suspended as an approved servicer of the Government National Mortgage Association -- or Ginnie Mae -- during the first week this month. The suspension came on top of the Ocala, Fla.-based company's loss of its approval to originate loans insured by the Federal Housing Administration.

The suspension was the result of Taylor Bean's failure to submit a required annual financial report and its misrepresentation that there were no unresolved issues with its independent auditor, according to U.S. Department of Housing and Urban Development.

Around 180,000 Ginnie Mae-securitized mortgages have been successfully transferred to BoA-subsidiary BAC Home Loans Servicing, a news release today said. Welcome letters will be sent this week to borrowers. BAC is a long-standing master sub-servicer for Ginnie.

In addition to FHA loans, the servicing portfolios include loans from the Department of Veterans Affairs, the Department of Agriculture's Rural Development and the Office of Public and Indian Housing.

While Taylor Bean was also suspended as a servicer for Freddie Mac, BAC is not taking over servicing on those loans.

Borrowers who already had loan modifications in process at Taylor Bean or Sparta Special Servicing will be contacted by BAC's loss-mitigation team.

next story

back to current headlines


SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders