Where to capture Taylor, Bean & Whitaker's Mortgage Market Share

Now that Taylor Bean Whitaker Mortgage has been knocked down, which mortgage companies are going to capture their market share? It helps to know which markets Taylor, Bean, and Whitaker were strong in. See the reports below to find out where Talyor, Bean, Whitaker, originated most of their mortgage loans in 2009.

The following report shows the top ten counties in the country where Taylor, Bean, and Whitaker originated conventional mortgages during the first six months of 2009.

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The following table shows the top ten counties in the nation where Taylor, Bean, and Whitaker originated FHA mortgages during the first six months of 2009

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The following table shows the top ten counties in the nation where Taylor, Bean, and Whitaker originated VA mortgages during the first six months of 2009.

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Yup, we have the data to show you where Taylor, Bean, Whitaker (or anyone else) stands in your market area as well. Contact us if you need to know more.

Taylor Bean & Whittaker Suspended By FHA

The Federal Housing Administration citing irresponsible lending and failure to file required financial reports suspended TBW from participation in FHA programs. This impacts not only TBW but many lenders who went to them for funding.

Where will the Correspondent Lenders go with FHA's suspension of TBW for funding? MortgageDataWeb has a report showing Taylor Bean & Whittaker's Top Correspondent Lenders for 2009. These companies are now in the market for new funders as well as many other TBW Correspondent Lenders that didn't make the Top 15. Contact MortgageDataWeb to see who some other Correspondent Lenders that may be impacted by TBW's suspension.

If TBW Does Not First Succeed, Just Settle, Pay Fine, and Move On!

The Gainesville Sun reports that Taylor, Bean, and Whitaker Mortgage (TB&W) agreed to pay state agencies a $9 million dollar settlement for modifying loan applicant information to obtain lending approval. This applies to mortgages originated in 2006 and 2007. The article states that Lee Farkas, TB&W’s president, did not admit to any wrongdoing.

MortgageDataWeb checked Home Mortgage Disclosure Act (HMDA) data for 2006 and 2007. Using TB&W’s HMDA data we used the rate spread field to determine if TB&W originated mortgages had annual percentage rates in range commonly recognized as subprime mortgages. The HMDA data records examined include first lien conventional purchase or refinance mortgages having conforming loan amounts on owner occupied site built homes. None of TB&W’s mortgages for this category in 2006 or in 2007 had a rate spread value. This suggests that all of TBW’s mortgage originations had annual percentage rates below the 3 percent reporting threshold. TB&W's mortgages are not subprime mortgages.

Many other mortgage originators charged home borrowers excessively high fees and interest rates much higher than TB&W. These other mortgage originators made a large contribution to the collapse of the housing and finance industries. TB&W was responsible for the mortgage and housing train wreck.

You would think there are other lenders that state agencies can pick on in order to serve the public interest. Feel free to name any that are still around!

Taylor Bean and Whitaker Mortgage - Now they own the bank!

No nonsense!. Taylor Bean and Whitaker Mortgage (TB&W) of Ocala, FL. has been moving up in the national rankings year over year. For 2008, MortgageDataWeb ranks TB&W Mortgage 15th in conventional mortgage originations. The news story is that TB&W was ranked 30th in 2006 in conventional mortgage originations. TB&W's FHA/VA mortgage originations are now 2nd in the nation.

Just last week, TB&W purchased Platinum Bankshares of Rolling Meadows, IL. TB and W's trends in mortgage lending along with the quality loans they originate should make them a formidable competitor. Congratulations Taylor Bean! ...... and congratulations Whitaker!