Beazer Homes shuts mortgage unit, end building in 5 markets

NEW YORK (MarketWatch) — Beazer Homes USA Inc., the Atlanta homebuilder, said it would stop writing mortgages through a unit, stop building homes in five markets, and enter marketing partnerships with Countrywide Financial Corp. and St. Joe Co. Beazer will discontinue mortgage-origination services through Beazer Mortgage Corp. And it will end its relationship with Homebuilders Financial Network LLC. Instead, it will market Countrywide, the Calabasas, Calif., mortgage company, to buyers of Beazer homes as the preferred mortgage provider. Beazer will take charges, which it can’t yet calculate, as it ends the Beazer Mortgage operation. After reviewing its markets to determine where best to put its resources, Beazer said, the company will exit home-building operations in Charlotte, N.C., Cincinnati/Dayton and Columbus, Ohio, Columbia, S.C., and Lexington, Ky. It said it will complete all homes that it’s currently building in those markets and will determine how to dispose of […]

Original post by Forextvblog

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