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Taylor Bean's FHA Suspension May Mean Trouble for Home Buyers

Bloomberg - August 5, 2009

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Taylor, Bean and Whitaker Mortgage Corp.'s expulsion from the ranks of Federal Housing Administration lenders may make it harder and more expensive for cash-strapped consumers to finance home purchases. The FHA, the government mortgage insurer, yesterday suspended Taylor Bean, its third-largest lender, citing possible fraud. It’s "distinctly possible this is going to be the end of Taylor Bean," said David Lykken, managing partner at consultant Mortgage Banking Solutions in Austin, Texas.