We found them easy to work with. Yes, they have a servicing arm called Sparta with whom many homeowners and Loss Mit companies are referred to when it comes to a TBW loan, but as someone else on the forum noted they are out of business and are forbidden to underwrite any more loans. So they are in trouble which may give you an edge if you are trying to negotiate a good loan mod. Perhaps BoFA will do better but we'll have to wait and see.
Just be careful and make sure they are the actual company servicing your loan. Right now there is a lot of fraud going on. Several people have reported they received as many as five letters from different companies saying they are the new company servicing Taylor, Bean, and Whittaker loans. Of course you can't get a hold of anyone at Taylor, Bean, and Whittaker to confirm.. And if these companies bleed you out of a payment, you will never see that money again. According to another message board lawyers are advising to not send any further payments until the new loan company officially records the note at the County Clerk's office.
Pants is right. You need to verify who is actually servicing the loan. Prior to TBW going out of business it was Sparta Servicing. TBW notified us that they (Sparta) were servicing their loans then and we were negotiating with Sparta for all our TBW loans. I would suggest that you call the former servicer of their loans, Sparta Servicing at 866-340-3932. After pressing 1 for english you will get the option to enter the loan number. At that point you will be notified as to who is now servicing that loan. In our case it is Ocwen for the majority of the former TBW loans.
Hope this helps,
Actually Bank of America is the one who claims to be servicing the majority of the Taylor Bean loans. I contacted Bank Of America and they already could cross reference my new account number. I double checked my balance and escrow balance with Bank Of America and everything they have appears to be correct..
According to Taylor, Bean... It appears current Freddy Mac loans are going to Cenlar..
The Freddy Mac loans that are not current those are being split up with Saxon or Ocwen. As I understand..
If you receive welcome letters and packets from anyone else not listed it is probably fraud.. Might want to report it as fraud.