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Loan Modification

: Mortgage Lender Implode-o-Meter

Money maze frustrates new TBW leaders

By Implode-Explode Heavy Industries

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"Taylor, Bean & Whitaker Mortgage Corp.?s new leadership says the company resold or transferred billions of dollars worth of mortgages to multiple investors, each now claiming ownership of those assets.

As the mortgage company?s new executives perform the financial autopsy, they have concluded that the ownership of more than $3 billion worth of mortgages is now in dispute.

Full post as published by Mortgage Lender Implode-o-Meter on May 19, 2010 (boomark / email).

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