Posted by loma on 8/7/09 4:04pm
Msg #299179

Good website shows lenders is in trouble~mortgageimplode.com

Try it~ a broker friend of mine turned me onto it!

I have nothing to do with site, just thought it would be helpful for others.

Reply by Ilene C. Seidel on 8/7/09 7:17pm
Msg #299200

how bout posting the site

Reply by jba/fl on 8/7/09 7:42pm
Msg #299206

in the subject line????

Reply by aatatusko on 8/7/09 7:29pm
Msg #299203

http://ml-implode.com/ n/m

Reply by Gary Boehm on 8/7/09 9:44pm
Msg #299216

Whoa!! T B & W???

That page lists Taylor Bean and Whitaker! I checked my records and I have done at least half a dozen for them this year through various TC's, one on 7/10 and I believe another within the past two weeks - I'll have to look up just when. They may not have been FHA (the recent ones) but I'll bet the earlier ones were. According to that article it looks like they are completely shut down or at least have lost their source of funds.

Reply by MikeC/NY on 8/7/09 9:55pm
Msg #299219

Re: Whoa!! T B & W???

They're toast, as of Wednesday. There's been some discussion here recently...

Hope you get paid for the work you did - the shutdown involves loans in the pipeline, not loans already completed...

Reply by ikando on 8/8/09 3:34pm
Msg #299327

Re: http://ml-implode.com/

Go to this part of the site...http://ml-implode.com/index.html#lists

It lists TBW as an imploded company along with several others. I don't see that the site itself relates to Taylor Bean.

Reply by 101livescan on 8/7/09 11:16pm
Msg #299232

This site has been around for a couple of years, took off during July 2007 when banks began to IMPLODE...good meter to have as a book mark, as more banks will fold after being under the HUD microscope.

Reply by James Powell on 8/10/09 7:15am
Msg #299397

A word of caution about the website.

Just because you see a bank listed, it does not mean the bank has 'imploded'. Since the site is geared towards brokers, there are many instances where the wholesale side (brokers) has been closed (or imploded), while the retail side is still in business.

If your business is coming through a title company, you may be dealing with either side, depending on the TC's customer. If you are dealing with a broker, you may not know who the funder is until the closing.