Comments on: FHA Suspends Taylor, Bean & Whitaker

By: Jimmy

Jimmy — Sat, 30 Jan 2010 04:15:10 +0000

I was put into an FHA in July 09′ and the loan was sold to TB&W. After they were suspended in Aug, my loan was transferred to Dovenmuehle. I have since tried streamlining only to find out my FHA loan isn’t endorsed (insured) so there is nothing they can do with the loan. I have tried every path imaginable to find out how this happened and how it can be resolved. Extremely frustrating.

By: L winslow

L winslow — Thu, 17 Dec 2009 22:14:40 +0000

I have complained to FDIC several times.
http://www.FDIC.gov

By: Bethany W

Bethany W — Thu, 17 Dec 2009 22:06:48 +0000

Linda:
My 203K is with RoundPoint and I couldn’t agree more – they’ve been really nice. However, I’ve been waiting nearly a month since they submitted my paperwork to the FDIC for approval to receive payment of our escrow funds (we paid our contractors out of pocket). How long did it take you to receive your funds (or, in your case, your contractors) after the paperwork was submitted to the FDIC? I’m just at the end of my rope and so frustrated. Dawn Adams has been our contact and she hasn’t returned a call or email over the past two weeks. Any ideas?
Bethany

By: Linda

Linda — Wed, 16 Dec 2009 20:22:17 +0000

My situation with TBW, thankfully, has been resolved. But not without a LOT of anxiety, hard work and…here’s the biggie….fear.

Roundpoint Mortgage took over my loan, but had no information other than my ssn and monthly payment amount. So they just flat-out couldn’t properly service the (203k) loan. I talked to them daily and they were, each and everyone, very nice, sympathetic and tried to be helpful. But the botom line was, they took over loans that require more work/attention than just accepting payments. Ie contractor payments, insurance, property taxes. I was all upset about NOT having BofA take over my loan, but now I’m happy to say RoundPoint has paid my 203k contractor and all is good. I even feel I owe them all a huge Thank You! So, there’s hope it will all get resovled….eventually. It’s the fear and mistrust of our banking system that has had me so anxiety-ridden.

However, I got my senators involved, called FHA, and called FDIC regularly. I don’t know if all that made a difference and things would be worked out by now anyway, but I think the key is to keep making the calls, keep documenting and try to remember the people on the other end of the phone can only offer lip service. But the more you are heard, the more you will be remembered! I insisted on talking with supervisors and got some very helpful people involved.

TBW went bankrupt. And then refused to cooperate. It was a perfect storm for consumers. The customer service people are just reading data entries. I started getting help when I wrote my senators that I was getting tired of being treated in terms of part of a “banking problem” and asked for help as an “individual consumer.”

Try being calm and just keep hammering.
Linda

By: Rhonda Porter

Rhonda Porter — Wed, 16 Dec 2009 19:54:46 +0000

1-800-call-fha

I don’t know what else to suggest…thankfully I never worked with TBW and I’m so sorry to learn what all of you have been going through with little to no media attention.

By: Camell

Camell — Wed, 16 Dec 2009 19:01:19 +0000

I have read each and everyone of your stories, and as I read them I am thinking to myself, that is my story. TBW screwed us over, but wait BAC wants to give us a kiss with the screw. We paid our mortgage to with TBW before they where shut down, know BAC holds our mortgage and is saying we are behind in our payments. We just got the our insurance straighten out, BAC claimed they did not know they where suppose to pay it. There is a lot of shucking and jiving going on with these banks.
Does any one have any solid advice that I can use to guide me through this jungle(BAC)

By: David Losh

David Losh — Fri, 11 Dec 2009 15:31:04 +0000

I’m going to make a side comment about Bank Of America because our loan is all screwed up. BOA bought out loan from Country wide. We made the payments then were told we were behind, so we got caught up. It’s been months, maybe a year, and we just got our first statement saying we are behind about five payments.

There is a disclaimer that “not all of our payments may be reflected in this statement.”

What a mess.

Let me say that I chose just to get the payments “caught up” because it was cheaper than an attorney, in my case, and in my opinion.

By: Erin

Erin — Fri, 11 Dec 2009 08:57:50 +0000

We are in the same boat. First we were told that our loan went to Bank of America by somebody at TB&W when they first went under. We paid two months in cashiers checks to Bank of America referencing our loan number. Then we FINALLY received a statement from Cenlar in October. They told us that we were 2 months behind. Turns out we were given incorrect information and made our payments to the wrong company, although we were never mailed anything until that point. We had to track down the cashiers checks and put stops on both, with cost us 58 bucks. We finally almost had everything straightened out and we just received notification today that we are now going to OCWEN. We were trying to refinance as well and we are totally screwed! TB&W have really financially messed with many peoples lives and I wish they could be held accountable!

By: Brenda

Brenda — Wed, 09 Dec 2009 17:49:08 +0000

My HARP REFI was set to close with Taylor Bean on Aug 5. They sold my loan to OCWEN and they are telling me they are not a bank so REFI not an option. I cannot find another bank who will do the HARP refi unless they service the loan. Why would my loan which was approved for the Making Home Affordable Refinance plan be sold to a company who cannot help me?? I wish I knew who I could sure because now we are screwed.

By: ANGEL

ANGEL — Fri, 04 Dec 2009 17:00:45 +0000

We are facing the same situation, we made a payment in August and the check cleared, but when BOA took over the loan, they have no record of the August payment, so now we are delinquent 1 month on our morgage payment. We do have the copy of the cleared check and BOA has asked us to fax them a copy to thier research department. We called them last week and thier response was that the Federal Government has not released the funds yet and that thier was nothing they could do until otherwise. I have a VA loan, so this is what I get for defending this country.