* Ginnie Mae-backed mortgages are switched to BofA
* Move comes after TBW mortgage business suspended
NEW YORK - Bank of America Corp (BAC.N) said it has completed the previously announced transfer of 180,000 Ginnie Mae-backed mortgages from Taylor, Bean and Whitaker Mortgage Corp to the bank's home loan servicing business.
Ginne Mae, Fannie Mae and Freddie Mac notified Ocala, Florida-based Taylor, Bean on Aug. 4 that they were ending the company's right to originate agency-backed mortgages.
The 180,000 Ginnie Mae-backed mortgages, similar to those issued by Fannie Mae and Freddie Mac, are government-guaranteed loans financed through the Federal Housing Administration, the Veterans Administration and other programs. (Reporting by Joe Rauch; editing by John Wallace)