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Volume 2009 - Number 14

July 2, 2009

Nontraditional Originations Lead to Settlement

The regulatory fallout from the non-prime lending boom of years past continued last week with a settlement between Taylor, Bean & Whitaker Mortgage Corp. and 14 states. TBW will modify loans for struggling homeowners and pay $9 million in fines as part of the settlement. The state regulators alleged that TBW allowed exceptions related to underwriting...

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