Answer Desk’s John Schoen fielded readers’ questions in a live chat on Wednesday, Feb. 17. Here are some of his answers about the housing crisis and the economic recovery.
Real estate – Housing – Business – Residential – Property
” Mortgage Q&A: “How does a mortgage broker get paid?””
Just for the moment, let’s pretend that James Cameron’s 1984 The Terminator was being made for the first time today, and, instead of the evil robots emerging from the fatally misguided foundries of Cyberdyne Systems, they came from the dark laboratories of Goldman Sachs. From out of the future, a warrior is sent back in time to warn the present.
“You still don’t get it, do you? They’ll find your money!! That’s what they do! That’s all they do! You can’t stop them! They’ll wait for you! They’ll reach down into your bank account and tear its f*&^*^g balance out!”
Taylor, Bean & Whitaker has been suspended from originating or underwriting FHA loans according to a press release by the Federal Housing Administration (FHA) today. The company was also terminated as a GNMA Seller-Servicer. One thing is for sure: the impact will be huge.
The Federal Housing Administration Tuesday suspended Taylor, Bean & Whitaker Mortgage Corp. from making loans insured by the federal agency, knocking out one of the biggest FHA lenders at least temporarily.
