St. Petersburg Times Staff Writer - Aug 05, 2009
Ocala's Taylor, Bean and Whitaker Mortgage Corp., 12th-largest mortgage lender in the country, has shut down its lending operations after the Federal Housing Administration barred it from making loans that the agency insures.
In an e-mail — with the subject line "The saddest day of my life" — posted on the Ocala Star-Banner newspaper's Web site, Taylor Bean chairman Lee Farkas said Wednesday would be the company's last day of operations. "I have done everything possible to try to save it, but I couldn't," Farkas stated. "Since 1991, we have provided excellence in mortgage banking. We did our best for a very long time. I apologize to everyone." Farkas added that all staff except "essential employees" would be terminated Wednesday.
The closure came a day after the FHA punished Taylor Bean for failing to submit a required annual financial report, and "misrepresenting" its dealings with an auditor that had discovered "irregular transactions that raised concerns of fraud."
Your blog keeps getting better and better! Your older articles are not as good as newer ones you have a lot more creativity and originality now keep it up!
ReplyDelete