Special Alert: SA2009035

Dear Associates:

We received information that on August 3, 2009, Agents of the Federal Bureau of Investigation and the Treasury Department's Office of the Special Inspector General for the Troubled Asset Relief Program executed search warrants on the following entity:

Taylor, Bean & Whitaker Mortgage Corporation

In addition, a news release dated August 4, 2009 issued by the United States Department of Housing and Urban Development states that the Federal Housing Administration (FHA) suspended Taylor, Bean & Whitaker (TBW) thereby preventing TBW from originating and underwriting new FHA-insured mortgages. The news release also states that the Government National Mortgage Association (Ginnie Mae) is also defaulting and terminating TBW as an issuer in its Mortgage-Backed Securities program and is ending TBW's ability to continue to service Ginnie Mae securities. Effective immediately, TBW will not be able to issue Ginnie Mae securities.

You may experience funding irregularities and/or delayed or canceled closings with respect to the above entity. Please advise your customers accordingly. Please exercise caution.

To the extent that the above entity continues to schedule closings, funding from the above entity must be accomplished only by federally wired funds to your escrow account. You must confirm with your bank that the funds have been received (not just that the wire has been initiated) and unconditionally credited to your account prior to making any disbursements, recording any documents, or issuing any title policies.

If you have questions relating to this bulletin, please contact Stewart Legal Services or your local underwriting personnel.

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