Taylor, Bean and Whitaker (TBW), the nation’s third largest FHA loan originator, announced today that they have been terminated and/or suspended as an approved seller and/or servicer of HUD, Freddie Mac and Ginnie Mae loans. As a result, any loans that TBW had in its pipeline will not close or fund.

Problem Areas

As one of the few lenders that would allow manufactured homes as collateral on their loans and also one of the few that offerred the FHA 203k Streamline loan, and being such a large FHA lender overall, I know that a lot of brokers will be scurrying to find homes for their loans. This can cause some difficulty for borrowers expecting to close by a certain date.

Alpine Difference

As an FHA direct lender, Alpine Mortgage Planning underwrites, draws documents and funds all of their in-house FHA loans and therefore has more control over the mortgage process than most brokers or correspondent lenders. However, we are still brokering the manufactured homes and FHA 203k loans also but do have lenders for those products.

What to do

If you are a borrower or Realtor in Oregon, Washington or California and are caught in this problem, give me a call at 541-342-7576/541-221-3455 Cell or e-mail me and let’s see if we can work you through this problem time. I can’t promise you that we can close your loan tomorrow, but I can promise excellent service and very competitive rates.

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