Taylor Bean said to declare bankruptcy soon
Bank Failures, Bankruptcy, FHA, Meltdown | (0)
From Reuters/Yahoo News:
Lawyers for Taylor, Bean & Whitaker Mortgage Corp, the 12th-largest U.S. mortgage lender, said in court papers last week that a "bankruptcy filing is imminent" for the lender after it was forced to shut down mortgage lending operations.
In court papers filed on August 6, in U.S. District Court for the Northern District of West Virginia, lawyers for Taylor Bean said that due to recent actions taken against the company by the U.S. Department of Housing and Urban Development, and mortgage financiers Freddie Mac (FRE.N) and the Government National Mortgage Association (Ginnie Mae), the company is expected to file ...
