Posted by neao/In on 8/7/09 9:27am
Msg #299124

Taylor Bean & Whitaker in the Hot Seat

I heard where the FBI and HUD raided the offices of TBW. HUD has barred the the execs from any from any dealings for the next 18 months. Another one down the drain.

http://online.wsj.com/article/SB124940991556305327.html

Reply by anita55109 on 8/7/09 9:48am
Msg #299126

It's so disheartening when you see these execs not happy with the above average dollar they make honestly that they have to be underhanded to get more. Greed never pays in the end.

Reply by PAW on 8/7/09 1:18pm
Msg #299159

Read about the local impact.

TBW used to do a lot of mortgages in my area.

http://tinyurl.com/llat7l

Reply by jba/fl on 8/7/09 1:30pm
Msg #299162

Re: Read about the local impact.

This now needs to move to Just Politics. I read this as adding to the coffers of BOA, which is owned and possibly controlled by the govt. now.

Slow erosion. . .

JMO

Reply by PAW on 8/7/09 1:54pm
Msg #299166

Re: Read about the local impact.

Huh? Why move this to politics? BofA picking up the loans is not political. Granted, if the political aspects start creeping into the conversation, then I would agree. But nothing political has been mentioned, rumored or assumed in this thread.

Reply by MW/VA on 8/7/09 2:22pm
Msg #299172

Re: Read about the local impact.

Why? This is about the mortgage business & the impact this will have on us.

Reply by jba/fl on 8/7/09 10:18pm
Msg #299224

Re: Read about the local impact.

Oh, sorry, I didn't mean today's conversation - but I do think that we will be hearing more in the near future that will be more of a political nature. Just a feeling, not that I'm prescient or anything, but.....

Reply by MW/VA on 8/7/09 2:21pm
Msg #299171

Re: Read about the local impact.

From what I'm getting from some articles, it would seem it might have to do with a lot of loans gone bad--perhaps in the FL market specifically.
There was a front page story in our local newspaper yesterday. It basically said that the fed (Fannie Mae, etc.) is going to become the "bad" bank & pick up the loans gone bad & try to collect. LOL
This is really turning out to be one huge nightmare!!!!
I understand the concept of liberty--it is rights AND responsibilities. IMO we stand to lose our liberty & we've blown it ourselves.