State: Taylor, Bean, Whitaker must cease foreclosures, move home loans in 60 days
TALLAHASSEE, Fla. – Aug. 24, 2009 – Florida’s Office of Financial Regulation took more action Friday against Ocala-based Taylor, Bean & Whitaker Mortgage Corp., ordering the company to cease foreclosures, late charges and adverse reports to credit bureaus about customers.
It is state regulators’ second move this month involving the Ocala operation. On Aug. 7, they ordered Taylor Bean to cease mortgage lending activities after federal housing officials announced it was under investigation for possible fraud.
The Ocala company still operates as a holding company for Illinois-based Platinum Community Bank.
Taylor Bean’s mortgage unit is also now under order to move its customers’ existing loans to other mortgage servicers within 60 days. Regulators are holding Taylor Bean accountable for safeguarding customer payments, escrow funds and accounts.
