Beazer to quit lending business
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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.
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