Posted by 101livescan on 8/13/09 8:01am
Msg #299695

What a nightmare for TBW Borrowers

No one has a grip on current borrowers payments and escrow accounts.

http://www.ocala.com/article/20090813/ARTICLES/908139986/1001/NEWS01&tc=email_newsletter

It will be a nightmare for months while the FEDS try to straighten out the system gone wrong. TBW's collapse is the largest of its kind in the mortgage lender arena. More than 150,000 borrowers have been impacted.

Reply by MW/VA on 8/13/09 8:54am
Msg #299705

What a total nightmare. I am thinking of the many borrowers I deal with who got TBW loans.
I also remember some of them being a little leary of the co. they hadn't heard of. At the time it appeared that TBW was solid & there was no reason to think otherwise. BOA must be very busy!

Reply by 101livescan on 8/13/09 9:32am
Msg #299714

I'm sure there will be some opportunities for loan modifications with borrowers by BofA in an attempt to stop the bleeding.