Complain about a product or service

Taylor Bean Whitaker Mortgage

Jim of Odenville, AL September 18, 2009

Checked my credit report today. TBW is reporting my lost August payment as a late. This after I disputed the other lates they are reporting for the summer! Is anybody going to do anything about this company? Is BofA going to be able to foreclose on us because TBW did not give us credit for our last two payments?

Cheryl of Kankakee, IL September 18, 2009

Like many others, I had a loan for 2 years with TBW, no problems ever. Mid-August, I tried to access my online account but was restricted. Property taxes were due 9/1/09. I made multiple attempts to contact them with no success. I got a transfer letter from Cenlar FSB & began trying to contact them, with no success. My property taxes are over 2 weeks late & I have been charged a late penalty. The 2 phone calls I managed to get through to Cenlar, the reps were useless. Nobosdy can tell me when my taxes are going to be paid.

I have been assessed a late penalty for my property taxes. I am not sure if there has been any impact on my credit but I never pay anything related to my home late. My taxes have still not been paid & I am not sure what happens if your taxes are delinquent. My money is tied up in the escrow so I cna't pay my taxes, they have my money.

LeNore of Highland, IN September 18, 2009

Received an escrow surplus check from TBW and deposited said check on 8/20/09. Was informed from my personal bank on 8/28/09 that the check was returned NSF. Not only am I out the 459.34 surplus, but 80.00 in fees charged by my bank (it's not their fault!). I've contacted Bank of America who assumed my mortgage and TBW and it's the classic pointing fingers at each other. BofA has been harrassing me with debt collector phone calls for my August 1st mortgage payment, even after I've sent the cashed check, front/back, proving TBW cashed the check. This is ridiculous that all of us are out money. I was told by TBW that they are trying to request the FDIC un-freeze their assets so that they can reissue all escrow surplus checks to customers. I hope so.

Michela of Manchester, MO September 17, 2009

I had a Mortgage that I obtained through Reliance Bank of St. Louis, MO, and it was subsequently (immediatel) sold to Taylor Bean & Whitaker. Ever since I had my mortgage serviced by them they were at least 10-15 days applying payments in order to capture fees. Then I began paying online, and this was okay until one time I paid exactly the night before it was due, and they did not apply for 3-4 days and it was not over a weekend or holiday, and captured fees. I remedied this problem, by paying early. I never was truly behind or late. Then when I wanted to take advantage of HASP they acted like they did not know what was going on, took six weeks to reply, and 6 more to determine an offer of a loan to me, which was not according to HASP in its nature, and terms that were worse than I had. Then when I sold my house, they took forever (6weeks) to close it, and dated my escrow check from Platinum Bank the 4th August, and mailed it the 12th, and it arrived the 19th or after, and then the bank collapsed and the check bounced, and my bank Bank of America, took and wiped out my account, and charged me fees to cover the bad check. Mind you, this all happened as the FBI and Freddie Mac agencies raided and shut down TB&W, and TB&W declared Chapter 11. This TB&W had just bought the failing bank with their fraudulent funds, and my money. Apparently TB&W had controlling interest in this bank. There have been other arrangements for the other clients of TB&W, however not for those like myself whom were stiffed by both TB&W and Platinum Bank. There is no regulatory or insuring federal or state agency, or other mortgage servicer, or bank, that I have been able to locate or find re this situation. I must note that in my research, I have noticed that my own bank B of A is helping, and it is under investigation, and also the two other mortgage insurers that have been assigned to assist clients of TB&W are also in poor financial shape, and have been under regulatory scrutiny. My question: Where has the Obama Administrations' bailout money gone -my tax dollars, and where is the oversight, and where has it been? Geitner and Co do not seem to be handling this effectively.

Steve of Houston, TX September 17, 2009

TBW were recommended by our Remax Realtor in Montgomery, Texas, K. Thompson. P. Cloutier set up our loan with them. TBW have withdrawn payments on time bi-weekly for the past two years directly from our bank account. Now that the FBI has closed TBW, we are being reported to credit bureaus while our funds are being held by Colonial Bank in Ocala, Florida which has also been closed by the FBI.

Our credit is ruined. Our money for 2 months payments are considered deliquent since the government has the funds. The new lender, Ocwen, promised a 60 day grace period during the change over of loans from TBW to them yet they have changed their minds.

Poor Credit Score. They want over 3,000 to bring our loan current while we have already made these payments. No sleep. Stressed out! Our house is subject to being forclosed. Loss of equity. Loss of reputation and self-esteem. We live in China and every phone call to Ocwen is at our expense.

Terri of Oklahoma City, OK September 17, 2009

I refinanced my home loan in June of 2007 with TBW. We were told upon signing that TBW was a "good" company that rarely sold any of their loans.I signed up for the equity accelerator program which automatically takes 1/2 of my payment out of my bank account every other week and then pays TBW for me. I had 3 payments taken out in August which would have been my September payment and half of my October payment. I received a credit alert on Aug 15th on my email so I checked it out and found out that TBW had been shut down by the feds. The credit report showed that my loan was sold to Bank of America. After researching it some more, I found a phone number for BOA which I called and yes they had my loan, gave me the loan number and address to send payments to. I immediately called the program that was making my payments, gave them the new information and was told that the Sept payment would be sent there.

The next draft was to be this past Monday which never went through the bank. I called the program and was told all accounts were frozen and they could not make my payment or deduct from my account until the bankruptcy court released the funds. I wanted to cancel my service with them but they could not access my account to do so. I immediately went to the bank and put a stop payment on any further withdrawals from them. I am out a payment and a half and Bk of AM said I have 60 days from Aug 4 to pay the Sept payment or my account will be delinquent. Equity accelerator has my payment money, will not refund it and I can not come up with enough to make 2 payments before Oct. This was not my choice nor many others, why do we have to be the ones to suffer when we have been doing our part?

Patricia of East Falmouth, MA September 17, 2009

On July 30,2009, we received a letter confirming that our home loan had been paid in full and our remaining escrow funds would be sent to us within 30 days. A check was issued for 1748.00 on Aug 17,2009. I deposited the check only to have it bounce. I never received any correspondence from TBW regarding this transaction and when I called I could not receive any info as to when this check would be reissued. This is appalling to me as this is money that belonged to me and was in no way owed to TBW. I have no idea when if ever we will receive our funds. I just thank God we did not choose to refinance for a lower rate when TBW presented us this option in July.

Megan of Albuquerque, NM September 16, 2009

The first week of August I went to pay my TBW mortgage online and their site said they weren't accepting online payments. Since this was always the way I pay, I found that odd and decided to call TBW 800 number to pay over the phone. After receiving busy signals for a week I decided to Gooogle the company where I found out that on August 4, 2009, the federal government shutdown TBW's FHA lending operations. I went to the HUD government website where it stated that all loans would now be serviced by Bank of America. I called Bank of America Home Loans Customer Service and was instructed to mail them my August payment. The payment was received and signed for on August 17. After that on a weekly basis I would call Bank of America to see if they had my loan. Each week they would say that their records were not showing that they had my loan, but to check back in a week as it may have been processed by then. Finally on September 10 I was informed by Bank of America that they did not have my loan and gave me 3 other companies to call (Cenlar, Saxon and Ocwen) all of which did not have my loan.

A couple days before this I had received a letter in the mail from TBW stating that I was delinquent on my account. I thought this was maybe an automated letter since to my knowledge TBW was no longer in business. On September 10 after speaking with 4 companies that did not have my loan I contacted TBW by calling a 800 number that was on the letter. To my surprise, I spoke with a woman who informed me that TBW still had my loan. I asked if I needed to mail my payment to them and she told me to wait until after September 15 as on that day a decision would be made on all loans remaining with TBW, whether they would also go to Bank of America, another servicer, or stay with TBW. In the case that my loan did go to Bank of America, they already had my August payment and I would just need to send them my September payment. On September 16 I called TBW and spoke with a rude woman who told me there was no such decision being made on September 16 and that I need to send them my August and September payments. I now have to put a stop payment on my check to B of A and I am nervous to send TBW my payments! Up until now I have never been late on a payment.

Sue of Comer, GA September 16, 2009

September 2009 payment mailed 8/26/09, still hasn't been posted to my account. I call normally each day and today I'm told my September payment is late.No one can tell wh where the payment is, only that "cashiering" is behind. I'm afraid to send Oct payment as I do not know if it will get creditied to may loan or not. So far Sept. has not, byt TBW says they are sill serving my acount. Servicing is a Joke, Any words of advise?

Elisabeth of El Prado,, NM September 15, 2009

Hello, Like many of the other postings I too have not been contacted by TBW regarding the sale of my loan to another servicer. I placed a minimum of 7 calls in the month August requesting information about my mortgage and the new servicer but I never able to reach an individual. I was put on hold for a total of 5.75 hours in those 7 calls!

Finally, 8/15 I got thru and was told to send my payments to B of A, which I did 8/25 and was signed for on 8/27. Thinking I would receive information from B of A I assumed the check was cashed and the payment made on time. I have never been late with my mortgage payments and did not want the closure of TBW to affect my credit score. I called B of A after the first week of September as my check had not been cashed, there is no record of me or the check with B of A. I have not been able to reach anyone at Semloc either. I have no idea where to send my payments and to whom? Meanwhile I am very concerned about the existing mortgage escrow balance as well as my credit standing! Does anyone have any additional information they can share as to what to do?

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