Government regulators say Taylor, Bean & Whitaker Mortgage Corp., the Florida mortgage lender that filed for bankruptcy last week, is holding hundreds of thousands of homeowners "hostage" by refusing to hand over their loan information.

Taylor Bean "is holding hostage hundreds of thousands of homeowners, and each day of delay is causing mounting and growing harm to individual homeowners" who are unable to get information related to their mortgage loans, the Federal Deposit Insurance Corp. said Friday in a bankruptcy court filing.

The FDIC, which is the receiver for Alabama's recently shuttered Colonial Bank, said Taylor Bean is refusing to transfer vital information related to its servicing of mortgage loans.

"As a result, while hundreds of thousands of homeowners continue to make their monthly mortgage payments, those payments are now sitting in limbo," the FDIC said in the court filing.

Lawyers for Taylor Bean shot back Monday, placing the blame for servicing problems on FDIC and Colonial.

"The pre-receivership decisions by Colonial and the FDIC to freeze TBW's Colonial bank accounts has had a devastating effect on TBW's ability to service mortgages and has caused enormous harm, not only to TBW, but also to many individual borrowers and the investors that purchased the mortgages," according to a filing Monday in bankruptcy court.

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