Taylor Bean Unit’s $800M Freddie Mac Gambit Faces Slim Odds

Law360, New York (July 11, 2012, 7:02 PM EDT) -- Ocala Funding LLC made waves Tuesday with a bold bankruptcy filing that sought to claw back more than $800 million from Freddie Mac to pay two bank lenders, but legal experts said the Taylor Bean & Whitaker Mortgage Corp. unit may have bitten off more than it can chew.

Ocala, which filed for Chapter 11 bankruptcy protection in Florida federal court, helped fuel TBW's massive mortgage business before it collapsed in August 2009. It did so by selling asset-backed commercial paper to banks, purchasing TBW-originated mortgages...
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