Mortgage Broker

Wholesale Lender to Pay $9 Million over Non-Traditional Mortgages 

Taylor, Bean & Whitaker Mortgage agreed to pay out $9m after the conclusion of a multi-state regulator examination of its underwriting, risk management and consumer disclosure practices in the 2006 origination of non-traditional mortgages — including interest-only, pay-option and stated income loans — a now-shuttered practice at the company. Ocala, Fla.-based Taylor, Bean & Whitaker (TBW) is one of the top 10 national wholesale mortgage lenders, according to company statements, meaning it funds loans originated by third-party brokers.