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Taylor, Bean & Whitaker history
Taylor, Bean & Whitaker company history timeline
The fraud began in 2002, when Taylor Bean overdrew its main account with Colonial by several million dollars.
Both companies were brought down by a fraud that started in 2002 involving individuals at both Colonial Bank and Taylor, Bean & Whitaker.
In 2005, Taylor Bean created and then subsequently operated a special-purpose entity subsidiary, Ocala Funding.
Taylor, Bean & Whitaker closed $35 billion in residential mortgage loans in 2007.
But in a pretrial brief issued by the trustee, former PricewaterhouseCoopers chairman Dennis Nally is quoted in a 2007 Wall Street Journal article saying that the "audit profession has always had a responsibility for the detection of fraud".
The company filed for bankruptcy protection on August 24, 2009.
By 2009, it was servicing more than 500,000 mortgages, including $51.2 billion of Freddie Mac loans.
Sweet allowed some of the case to proceed in March 2011, writing that Deutsche Bank and BNP Paribas had stated a "plausible claim" against Bank of America.
More than a half-dozen executives at Colonial and Taylor Bean pleaded guilty to their roles in the scheme, and many testified against Farkas at his 2011 trial.
In June 2012, Judge Sweet dismissed a counter-suit by Bank of America Corp. against the securities units of BNP Paribas and Deutsche Bank, alleging negligence and breach of fiduciary duty on their behalf for their role in the sale of notes issued by Ocala Funding.
In a 2014 prison interview, Farkas stated he gets "depressed a lot of days", has lost 43 pounds and most of his friends.
Orange County’s 2022-23 budget includes millions more for housing, Sheriff’s Office, mental health
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Taylor, Bean & Whitaker competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Federal Reserve Bank of New York | - | - | 3,500 | - |
| American Home Mortgage | 1987 | $1.0B | 7,409 | - |
| Fiduciary Trust International | 1931 | $230.0M | 704 | - |
| A.M. Best | 1899 | $161.6M | 500 | 7 |
| Plaza Home Mortgage | 2000 | $210.0M | 700 | - |
| Bank of the Pacific | 1971 | $45.9M | 50 | 6 |
| Sun West Mortgage Company | 1980 | $33.6M | 50 | - |
| Crescent Mortgage | 1993 | $19.0M | 350 | - |
| Dillon Road | 1977 | $6.5M | 7 | - |
| Stearns Lending | 1989 | $521.7M | 1,700 | 9 |
Taylor, Bean & Whitaker history FAQs
Zippia gives an in-depth look into the details of Taylor, Bean & Whitaker, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Taylor, Bean & Whitaker. The employee data is based on information from people who have self-reported their past or current employments at Taylor, Bean & Whitaker. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Taylor, Bean & Whitaker. The data presented on this page does not represent the view of Taylor, Bean & Whitaker and its employees or that of Zippia.
Taylor, Bean & Whitaker may also be known as or be related to Taylor Bean & Whitaker, Taylor Bean & Whitaker Mtg and Taylor, Bean & Whitaker.