Taylor, Bean & Whitaker Filed Bankruptcy Protection

Taylor, Bean & Whitaker Mortgage Corp., is the 12th-largest US mortgage lender. According to Boston.com, company has filed for bankruptcy protection as regulators question its involvement with Colonial BancGroup Inc. Recent events “have crippled the company’s business operation,’’ Taylor Bean said.

It listed both assets and debt of more than $1 billion. Taylor Bean has already been deprived of the ranks of mortgage lenders approved to do business with government-sponsored mortgage agencies. “Possible fraud” was cited by government. Taylor Bean believes the decision was related to its involvement with Colonial and that it will appeal.