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Links from: ocala.com
Bail for former TBW chief Lee Farkas set at $2M
A judge on Wednesday set bail at $2 million for Lee Farkas, the former Taylor, Bean & Whitaker Mortgage Corp. chairman who faces federal prosecution. Although the 57-year-old Ocala resident was not able to secure that amount by day's end, his atto...
Trust fueled Taylor Bean's excesses
The multibillion-dollar mortgage scheme former Taylor, Bean & Whitaker chairman Lee Farkas of Ocala is accused of pulling off was complex, sophisticated and financially intricate.
Farkas will remain in custody at least until Wednesday
Former Taylor, Bean & Whitaker Mortgage Corp. chairman Lee Farkas will be held in custody at least until Wednesday,when a federal judge will convene a formal pre-trial detention hearing.
Federal Agents take Lee Farkas into Custody | Ocala.com
Lee Farkas was arrested and taken to the Marion County Jail on Tuesday, June 15, 2010. On Wednesday, federal agents stepped in and took Farkas into custody. Farkas is the former chairman of Taylor Bean & Whitaker.
Farkas accused of leading $1.9B fraud scheme | Ocala.com
The former chairman of Taylor, Bean & Whitaker is scheduled to appear in court this afternoon in Ocala.
A Change at GMAC as It Negotiates for Another Bailout
GMAC Financial Services, the former lending arm of General Motors, replaced its chief executive on Monday as it negotiates for another round of bailout financing from the federal government.
Marion County home values continue to fall
Marion County home values continued to drop September, attracting a steady stream of buyers looking for deals.The average home value in Marion County slipped to $128,304 in September, down from $138,086 the month before,
Federal auditor scolds Ocala National Bank, its regulator
And he said he could not argue with the inspector generals report because it supports the outcome.There was too much risk on the balance sheet, he said. Thats always the undoing of every bank.
Taylor Bean's checks reportedly bouncing
The check bounced.I was kind of freaked out because we had [planned] on that money to pay taxes, he said. It was pretty shocking.Cutler, who is in the commercial real estate business, said he and his wife had to
Anatomy of a bank failure
More than a month before federal regulators closed Platinum Community Bank, the savings and loanÂ’s demise was already sealed because of a fatal link to its owner: OcalaÂ’s Taylor, Bean & Whitaker.When they
Platinum Community Bank seized
Such activities, according to the Aug. 21 document, included failure to maintain accurate books and records, failure to operate the bank independently from its affiliates and failure to maintain adequate reserves to
World's worst commute?
As for the contest, Hanson expressed her hope that residents of the nursing home where she works might get a chance to see Johnson should she be the one with whom he chooses to share a commute.I really am excited about
Taylor Bean passes deadline to petition suspension
U.S. Bank said in its filing that the group hurt the most by Taylor Bean is homeowners whose mortgages are still controlled by Taylor Bean.The public is left in a state of limbo - that is, they do not know to whom to
TBW and FDIC battle for control of funds
About 50,000 mortgage and escrow checks sitting in frozen bank accounts and sent by former Taylor, Bean & Whitaker Mortgage Corp. customers are the subject of a legal standoff between the bankrupt lending giant and the
Taylor Bean hopes to recoup $1 billion from government
For now, the company is trying to take stock of what it has lost and what it is owed, Dantzler said.These assets had great value in early August, he said. Now the question is ... can we recover money from those who
What's next in Taylor Bean bankruptcy?
It could be weeks or even months before the companys intentions emerge, he said. Typically debtors have a 120-day period in which to file a reorganization plan. Extensions, while regularly
Taylor Bean lists biggest unsecured claims
Taylor, Bean & Whitakers bankruptcy file continues to grow. Among the latest documents: a list of the companys creditors who hold large, unsecured claims. The list is attached.
TBW ends up in even more trouble
Grosmaire said that after repeated requests about the companys financial situation and banking relationships, Taylor Bean told regulators that it was down to utilizing a single bank account.Florida regulators are
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