PwC Settles Taylor Bean Lawsuit – NMP
Regulation and Compliance

PwC Settles Taylor Bean Lawsuit

Aug 26, 2016
One of the most dramatic lawsuits stemming from the housing bubble meltdown came to an abrupt close with news of a settlement that brings an ongoing civil trial to a close

One of the most dramatic lawsuits stemming from the housing bubble meltdown came to an abrupt close with news of a settlement that brings an ongoing civil trial to a close.

According to a Reuters report, PricewaterhouseCoopers (PwC) has settled the lawsuit that charged the company with failing to detect and halt the fraudulent practices that resulted in the 2009 collapse of Taylor Bean & Whitaker Mortgage Corp. The bankruptcy trustee for the now-defunct lender was seeking more than $5.5 billion in damages.

The terms of the settlement are remaining confidential, according to a spokesman representing the trustee, and PwC has yet to issue any public announcement on the settlement of the case.

About the author
Phil Hall
Link copied
Published
Aug 26, 2016
Get the NMP Daily
Analysis and Data
Conforming Loans Slip Below Half Of Mortgage Production

June purchase locks climbed 14% year over year while non-conforming and Non-QM lending continued gaining market share, according to Optimal Blue

The U.S. mortgage market continues to generate more purchase business, but where that business is being written is changing.New data from Optimal Blue's June 2026 Market Advantage report shows purchase rate-lock volume increased 10% from May and 14% from a year earlier, acco...

Continue reading
Tech
Mortgage Tech Firms Target Growth In Multilingual Lending

Docutech's latest integration with Talk'uments aims to make mortgage documents easier to understand for borrowers in six languages

Docutech and Talk'uments have launched an integration designed to make mortgage documents easier for borrowers to understand in multiple languages. The platform currently supports English, Spanish, Chinese, Korean, Vietnamese, and Tagalog.The new partnership combines Docutec...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Regulation and Compliance
CFPB Issues AI Underwriting Guidance On Adverse Action Notices

The agency says proprietary and machine-learning models do not relieve lenders of their fair lending and disclosure responsibilities

Regulation and Compliance
Jul 09, 2026
VantageScore Says 4.0 Model Could Unlock $1 Trillion In Mortgage Originations

New study says VantageScore 4.0 scores five million more creditworthy borrowers than FICO Score 10T, expanding lending opportunities as the industry prepares for the GSE credit score transition

Regulation and Compliance
Jul 07, 2026
MISMO Updates Mortgage Insurance Standards To Support FICO 10T, VantageScore 4.0

New implementation guide standardizes mortgage insurance data exchange, helping lenders, insurers and technology providers prepare systems for newer credit scoring models

Regulation and Compliance
Jul 03, 2026
Congress Weighs New Roadmap To End Fannie, Freddie Conservatorship

Rep. Scott Fitzgerald's three-bill housing package would establish a statutory framework for releasing the GSEs while expanding construction lending and easing some TRID compliance requirements

Regulation and Compliance
Jun 30, 2026
CHLA Backs Bank Capital Proposal, Questions Impact On Mortgage Lending

Trade group supports lower mortgage risk weights but says broader market forces — not capital rules — drove banks' retreat from the market

Regulation and Compliance
Jun 24, 2026
Senate Passes 21st Century ROAD To Housing Act In 85-5 Vote

Sweeping housing package heads back to House after Senate clears final version with broad bipartisan support

Regulation and Compliance
Jun 23, 2026