Read more: Local, Newschannel 15, Federal Housing Administration, FHA, Suspended, Mortgage Company, Florence
NewsChannel 15 has learned the Federal Housing Administration or FHA has suspended a mortgage company, with an office in Florence, from processing any new FHA insured mortgages.
As a result the company has shut down its Florence office sending about 50 people to the unemployment lines.
Economic officials in Florence County tell us Taylor, Bean and Whitaker on West Evans Street closed last week.
FHA officials say the company failed to submit a required annual financial report.
They also say that Taylor, Bean and Whitaker misrepresented that there were no unresolved issues with its independent auditor.
The company is based in Florida and can appeal its immediate suspension.
