Federal agents raid Ocala's Taylor, Bean & Whitaker

[ensho]

http://www.ocala.com/article/20090804/ARTICLES/908041012/1406/NEWS?Title=Federal-agents-raid-Ocala-s-Taylor-Bean-Whitaker


Federal agents descended on the Ocala headquarters of wholesale mortgage lender Taylor, Bean & Whitaker Mortgage Corp. on Monday morning and locked it down.

-snip-

Belisle said the warrants were sealed.

"I can't provide any further information because of the nature of an ongoing investigation," Belisle said.

Ocala police officers manned the locked doors outside of the Northeast 14th Street offices, allowing only customers of the company's Platinum Community Bank to enter the building.

SIGTARP oversees the Troubled Asset Relief Program (TARP). Under TARP, the U.S. Department of the Treasury may purchase or insure up to $700 billion of troubled assets, which include residential or commercial mortgages. The agency investigates cases of fraud, waste and abuse of TARP funds and programs.

-snip-

Taylor, Bean made news again in June when it was forced, as part of a settlement agreement with the Florida Office of Financial Regulation and 13 other states, to pay $9 million after an investigation of the company's 2006 and 2007 nontraditional loans found irregularities in the company's loan applications that involved such items as applicants' income and asset information being changed in order for loans to be approved by the lender.
-------------------------


good