Complain about a product or service

Taylor Bean Whitaker Mortgage

Beth of St Louis, MO September 15, 2009

I closed on a HASP/Making Home Affordable refi with TBW on 8/6 and just found out Sunday 9/13 that TBW had been shut down - two days before I closed. I received my welcome letter from Cenlar a couple weeks ago and set it aside because I thought it was for my NEW loan, which wasn't due until 10/1. I found out about this mess from the internet - never had any kind of contact from TB&W or anyone else to tell me that my refi was never funded.

According to the Freddie Mac website, the new servicers are supposed to work something out with us on modifications that were in-process with TBW, but after 4 hours of trying to get through to an overloaded Cenlar customer service call center and finally sitting on hold for 25 minutes, I was told that my refi was so much dust in the wind and that Cenlar is not doing any modifications. As far as I can tell, Cenlar is just a loan servicer and not actually capable of modifying loans. So what are we supposed to do? So much for stabilizing the housing market.

vanessa of hidalgo, TX September 15, 2009

We normally make our mortgage payments online but in auguts we found that we were enable to do it,so we send it via express mail and in a few days it was returned so we send it again to the po box in ornaldo that appears in the weg page of TB&W and they received but my check haven't cleared in my checking acct.so I received my sept.bill and it says that we owe agust. payment so we send our regular payment for sep. at the same po box but it havent cleared neither and I don't want this affect my credit score and I have been heard a lot things and nobody answer me in TB&W phones and I tried to send an email but it was failure,tell me what to do,I havent received a letter from any mortgage company.

Mike of Wisconsin Rapids, WI September 15, 2009

I had my home mortgage with TB&W and we escrow our taxes and insurance. TB&W sent out our insurance payment but our insurance company, State Farm, had the payment bounce on them. Then the whole goverment freeze happened and Cenlar got our account. However, the reported escrow did not account for the bounced check. Well, our insurance says pay up or no insurance. We contacted cenlar a number of times explaining the situation and they finally paid our insurance. However, they took it again out of our escrow. So now we are out 677.00 because we paid twice, and our escrow will be low for taxes so I am sure we will have to have our escrow increased.

Elizabeth of Reading, MA September 13, 2009

In August I received my monthly bill for my mortgage payment from TBW. I normally pay the bill on 9/4 to allow for my paycheck to clear each month. Never has this been an issue. On 9/1 I received a cryptic voicemail message from TBW requesting a call to discuss my loan status. I was not aware at the time that TBW was in financial trouble. On 9/2 I tried to call TBW's offices with no luck. I then went to their website and found the heart-stopping message about their status.

I have not been contacted by any other mortgage company (BoA or Cenlar) or debt collector (Ocwen or Saxon) regarding my loan.

I've reached out to BoA and Cenlar and it seems that neither company has my loan. I do not want to contact Ocwen or Saxon as they are debt collectors and anything I send/say to them can be used in collections. I am current on my loans, I am not a "deadbeat" with my other loans and therefore it scares me to contact these companies.

My husband and I decided that we would hold our mortgage payment this month (Sept) because we did not trust sending it to TBW and have it go into the ether of their company demise. We contacted BoA (our regular bank) and they stopped payment on the check that had been sent for the Sept. payment and graciously waived all fees due to the circumstances. We also have 400+ in escrow with TBW that I'm sure is going to be close to impossible to recoup.

What is a consumer to do? Who can help those customers that have fallen into this black hole of uncertainty. I want to pay my mortgage to someone who owns it - the problem is that I have no idea who does.

Patricia of Chambersburg, PA September 13, 2009

We had our mortgage with Taylor, Bean & Whitaker when we bought our house in 2007. In May of this year, TB&W contacted us and asked if we wanted to refinance at a lower percentage rate. Since the economy had downturned and real estate values fell, they said it was an opportunity for "good customers like us who had always made payments on time" to take advantage of the lower percentage rates. All we had to do was take a test online to see if we qualified, and if we did, they would try to approve us for a refinance. TB&W would pick up all the closing costs, we would be charged for nothing. So after checking into it, even with hesitation, we went forward. From the beginning it was a situation that we had no control over. We had to wait for people to call us tell us if we qualified, there was a phone interview. Then we had to make an appointment for a notary to come to our house to do the closing. Mind you, we had yet to see any papers with any figures on them to guarantee us what our payoff would be, and that all the numbers matched up correctly.

I made numerous calls to TB&W, only to be met with people who didn't know what I was talking about & they didn't know what they were talking about. We were to get an HUD packet one week prior to our closing so that we could review everything. Did we get it? No. We didn't even get a confirmation from our notary that she was coming until 45 minutes before she arrived. When I informed her about the packet we didn't have, and that I couldn't promise her we were actually going to close, she said she had just received the paperwork herself. It was a mess. Needless to say when she got to our house, there were errors in the closing documents. The payoff information was incorrect, the escrow amount was incorrect. We were promised that we had three days to cancel, and were given phone numbers to call the next day to get everything straightened out. It was about 7:30 at night when she came and that was July 20th. We were given 2 payment slips and told to make our next pymt on Sept 1st. This new loan did not have escrow involved, so we were to get a refund. There was a timing issue with the closing and a tax bill that was due that I had sent in.

On 7/27 I called TB&W and requested they pay the tax bill early rather than wait till it was due. Four weeks later called our tax office and confirmed the bill had been paid. On 8/16 my husband sent in our 1st mortgage pymt for the new refinance. On 9/11 I went to our bank to see if it had cleared, it had not. I came home, looked at the letter we had received a week earlier from CENLAR (dated 8/16 but only received 9/3) and read it again. It only stated that our PREVIOUS TB&W loan had been assumed by CENLAR. It didn't say anything about our new loan(which we had a new loan number, etc.) So I called the TB&W phone number on the CENLAR letter. I asked the young gal who answered if she might know what happened to the check we sent for our first payment. No, she didn't know where it was unless someone stuck it in a file somewhere. I told her I was sure someone wouldn't do that and a mortgage company ought to know how to post a check when it comes in.

Then she told me that my old mortgage hadn't been paid off, so my new mortgage hadn't been processed yet. She said I needed to call my title company and find out what the hold up was, why they weren't releasing the money for my new mortgage. I explained to her it wasn't MY title company, but it was the one that TB&W hired! That THEY were the ones that needed to get them on the ball. Long story short-I called the tile company in Plano Tx, where THEY informed me that TB&W had filed bankruptcy, and they also told me I had better put a stop payment on that check I sent in for my "new" mortgage, because there was not going to be any new mortgage. I spent the rest of the day trying to get CENLAR on the phone to get that mess straightened out, it is still not straightened out, because now it appears that the payment we made in July to TB&W on our old mortgage also did NOT get posted to our loan. I can only hope that the check did not bounce to the tax office, I have not heard yet. If so, that will be another 1000. I don't know where this will end.

Geeta of Pearland, TX September 12, 2009

We had our mortgage loan from TBW. Before their collapse, we refinanced through some other company. However, the initial check of ~900 for escrow account balance bounced. Besides this 900, we have ~4500 still in the escrow account. Hopefully, we will get our escrow money back from TBW. We are very tensed.

Maria of Los Angeles, CA September 12, 2009

I had my loan with TBW, back in april 09 I filed for the Home Affordability Plan i made numerous calls to TBW to check the status of my application, needless to say sometimes I took some hours off work to be able to get through b/c of the time difference. Their where times that I spent at least 1 1/2 hrs. on hold just trying to get through, when I finally got someone all they would tell me is that i had to wait for a response they couldn't tell me anything else all I had to do is wait.

After the third month I decided to consult someone professional to represent me. They finally told this person that my application was denied b/c something was filled out incorrectly. Never got a call or letter from TBW telling me of their decision, so I resubmitted all my paperwork again, and stop making payments at that point I figured they would listen to me then. Sure enough after the first month of being late i got several phone calls (home, cell) from the bank to contact them at a 1800 number regarding the status of my loan.

Next thing i know is I get a letter from TBW saying that my loan was going to be serviced by OCWEN, never said that TBW was closing. I'm wondering from reading all the comments no one mentions OCWEN, only BOA and someother bank, does anyone else have OCWEN? Now it seems I have to start all over with my modification.

I don't know what to do I got my statement from OCWEN asking for the late payments (3 months). I don't know if OCWEN will work with me or decide just to foreclouse or help me out. I think they (government) should force TBW to compensate all their affected customers, that't the least they could do

Mike of Salem, MO September 11, 2009

I refianced my mortgage in july 2009. I received a letter from TBW that my mortgage with them was was paid in full and that I would be receving my escrow refund within 3o days. I received the refund check on 24 August and promplty deposited into my bank account on 25 August. I was informed on 12 September that the check had bounced and my account was charged a small transaction fee. I contacted TBW on 9/12/09 and was informed that a new check will be issued in a few weeks. I don't believe this will ever happen, as TBW has filed for chapter 11 protection. What recourse do us consumers have, since TBW issued the refund checks well after filing for chapter 11 and knowing that they could not cover the funds?

Beth of Fairmount, GA September 11, 2009

Due to changes in income in my household, I was unable to make my house payment and went into foreclosure. A friend of mine wanted to buy the house but it was too close to the courhouse sale date to do a short-sell.The sale was listed in the paper as 131K. He contacted Ms. Cline, who told him the bidding would start at 165K and they would not take less. Needless to say, it didn't sell. The house has been empty since the end of November '08. Today, I got a letter from Bank of America saying they had bought my mortgage and asking me to make my 1015 payment.

Aaron of Opp, AL September 11, 2009

We closed on our house in FL in March 2008. We weren't in the house long and began having trouble with our mtg payments, due to two deaths in the family and my work hours being reduced three different times. We contacted TB&W each time to make some sort of arrangement. No luck. The last time I was told straight out that it was in their best interest to not work with us and just foreclose since we had an FHA loan. They would get their money up front from the government instead of working to help us keep the house. We went ahead and moved out in Feb 2009 rather than be forced out by the sheriff and humiliated. We received paperwork from an attorney in Tampa (our house was in Cottondale, FL, in the panhandle)in July stating the house had been sold at auction for 61,000. Guess who the "new" owner was- TB&W!! They had received the full 185,000 from the government when they foreclosed and then turned around and bought it back for 61,000. Isn't that unethical to say the least? Now I'm getting statements from Bank of America saying they own the house and to start making the regular pmts to them. When I called them, they had no idea the house had been foreclosed on to begin with. They think we still live there(our mail is forwarded.)

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