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The Federal Housing Administration (FHA) has suspended Taylor Bean under suspicion of fraud.
Taylor Bean, based in Ocala Florida, does business across the US through loan brokers and other lenders.
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It ranked twelfth among US mortgage originators in the first half of this year with $17 billion of loans, industry newsletter Inside Mortgage Finance has said.
According to the FHA, Taylor Bean didn’t submit a required annual financial report and “misrepresented that there were no unresolved issues with its independent auditor”.
The auditor discovered irregular transactions that raised concerns of fraud, the FHA said in a statement.
The issue is currently under investigation.
