Major Mortgage Company Shuts its Doors
Published August 5th, 2009
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A major area employer and national mortgage lender is closing down.
Taylor Bean and Whitaker, which is headquartered in Ocala, sent home hundreds of employees this afternoon.
In an email from company chairman Lee Farkas, employees were told that Taylor Bean will not fund any new mortgages.
The company was raided earlier this week by the FBI after the federal housing administration said the company failed to submit proper paperwork.
The FHA suspended doing business with Taylor Bean, and the Government National Mortgage Association-- known as Ginnie Mae-- did the same.
Taylor Bean was the 12th- largest mortgage broker in the country.
