Beazer to quit lending business
From Times Wire Services
Beazer Homes USA Inc., which is under investigation by the Securities and Exchange Commission, plans to exit the mortgage business and stop selling homes in four markets.
The Atlanta-based builder will withdraw from Charlotte, N.C.; Cincinnati-Dayton and Columbus, Ohio; Columbia, S.C.; and Lexington, Ky. Countrywide Financial Corp. will become the company’s preferred loan provider, Beazer said. Its shares rose 6.9%.
Beazer said in October that it found evidence that employees of its mortgage unit violated federal rules.
