Taylor, Bean & Whitaker
| Company type | Private |
|---|---|
| Industry | Finance and Mortgage |
| Founded | 1982 |
| Defunct | August 5, 2009 |
| Fate | Bankruptcy |
| Headquarters | Ocala, Florida |
Key people |
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| Products | Mortgages |
| Website | Archived January 1, 2009, at the Wayback Machine |
Taylor, Bean & Whitaker was a top-10 wholesale mortgage lending firm in the United States, the fifth-largest issuer of Government National Mortgage Association (GNMA or Ginnie Mae) securities. Their slogan was "Perfecting the Art of Mortgage Lending".
On August 5, 2009, following a raid by the Special Inspector General of the Troubled Asset Relief Program (SIGTARP) and suspension by the Federal Housing Administration from issuing FHA mortgage loans and Ginnie Mae mortgage-backed securities, it ceased business operations. In April 2011, its majority owner was convicted of 14 counts of securities, bank, and wire fraud and conspiracy to commit fraud, and sentenced to 30 years in federal prison.
Deutsche Bank and BNP Paribas have sued Bank of America, the trustee and collateral agent of Taylor Bean's Ocala subsidiary, for over $1.75 billion in losses stemming from the subsidiary's fraud.