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remitted monies to Freddie Mac (and others) in connection withthese mortgages; and,d.
TBW repurchased from Freddie Mac mortgages that weredetermined not to be in compliance with the controllingagreements and the Guide.8.
On September 6, 2008, the Director of the Federal Housing Finance Agency(“FHFA”) placed Freddie Mac into conservatorship pursuant to the Housing and EconomicRecovery Act of 2008 (“HERA”). TBW continued to act as seller and servicer for Freddie Macin conservatorship.9.
On August 3, 2009, federal law enforcement agencies simultaneously executedsearch warrants at the Debtor’s Ocala, Florida headquarters and at the Orlando, Florida offices of Colonial Bank, Montgomery, Alabama, N.A. (“Colonial Bank”).10.
On August 4, 2009, TBW was notified that its authority to originate, sell orservice mortgages was immediately suspended and/or terminated by the United StatesDepartment of Housing and Urban Development and the Government National MortgageAssociation. On the same day, Freddie Mac provided written notice to TBW of termination of TBW’s eligibility to sell mortgages to and service mortgages for Freddie Mac.11.
On August 5, 2009, Colonial Bank placed an administrative hold on all of TBW’saccounts. On August 11, 2009, the Federal Deposit Insurance Corporation (“FDIC”) issued atemporary order to Colonial Bank directing it to first seek approval from the Regional Directorbefore engaging in any transaction with the Debtor, its affiliates, or related entities. By orderdated August 14, 2009, the Alabama State Banking Department closed Colonial Bank andappointed the Federal Deposit Insurance Corporation, as Receiver of Colonial Bank,Montgomery, Alabama (“FDIC-R”).12.
TBW filed its voluntary chapter 11 petition on August 24, 2009 (the “Petition”).
Case 3:09-bk-07047-JAF Doc 3237 Filed 06/22/11 Page 3 of 9