The mortgage banking firm Taylor, Bean and Whitaker (TBW), which recently ceased making mortgages, originated an estimated $22 billion in Federal Housing Administration (FHA)-insured loans over the past 24 months, which represents 4.5% of the FHA's total business during that period.

TBW was FHA's third largest direct endorsement lender and it approved 119,800 loans over the past two years. However, 7.1% of those FHA-insured loans are 90 days or more past due or in foreclosure, according to FHA's Neighborhood Watch System. The average default rate for FHA loans is 4.6%.

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