Aug 31, 2009

Answers for homeowners with TBW

If your loan has been with Taylor Bean & Whitaker, there is no need to panic as Freddie Mac has arranged for several servicing companies to begin working directly with such homeowners. Responsibility for servicing Freddie Mac mortgages that were transferred from TBW, has been given to Cenlar FSB, Saxon Mortgage Services and Ocwen Loan Servicing. These servicing companies will get in touch with you with either with a welcome phone call or welcome letter in which case it will include the contact information for your new Freddie Mac servicer and the address where you should begin sending your payments and any required documentation.

Home owners with TBW loans need not worry about the mortgage payments made to TBW.You should not be assessed a late fee and your credit report should not be impacted as a result of the transition. In the unlikely event your payment was not properly applied to your mortgage balance during the transition or you discover an error with your payment history, immediately contact your new Freddie Mac Servicer.They will resolve any issues that occured during the transition period, including waiving late charges when applicable and making appropriate adjustments to payment and credit records.

If you loan was in default, and you were being considered for a loan modification under the Making Home Affordable plan,then you should work directly with your new mortgage servicer to find options that's best for you. Additionally, if you received a letter from Home Retention Services regarding a loan modification of your TBW-serviced mortgage, please continue working directly with them on this process.For further informnation, check these websites out:

PrivoCorp ( processes the loans for the brokers and is in no way involved with origination of these loans.

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