Articles Tagged with ''Beazer Homes USA''

Beazer Homes buying Atlanta competitor Venture Homes for $65M

Deal allows Beazer to grow Atlanta-area business
Beazer Homes is expanding again. Back in December, Beazer expanded its Carolinas operation by acquiring Bill Clark Homes for nearly $30 million. The homebuilder announced this week that it is acquiring Venture Homes, a private homebuilder in Atlanta, for approximately $65 million.
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Beazer Homes Improves Losses

Atlanta-based residential builder Beazer Homes USA [stock BZH][/stock] lost $27.9m, or $0.72 per share, in its Q309 fiscal year, better than the $110m it lost in the year-ago period. Beazer, which builds homes in 16 states, closed 950 homes in the quarter, a 33.2% year-over-year decline. New orders were down 5% to 1,537. “Overall, margins continued to be negatively impacted by weak market conditions, impacting both closing volumes and pricing,” Beazer said in its quarterly report.
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Beazer to Pay $53 Million in Mortgage Settlement

At least one home builder is still feeling the full effect of the mortgage bubble implosion -- and this time, the wounds were self-inflicted. For builder Beazer Homes USA [stock BZH][/stock], news Wednesday of a costly settlement was not the first sign of trouble out of its mortgage lending division. Beazer Homes and its mortgage origination arm Beazer Mortgage agreed to pay $5m to the US and up to $48m in contingency payments to homeowners affected by allegedly fraudulent mortgage practices.
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Beazer Pays $2.5 Million in Mortgage Settlement

Beazer Mortgage Corporation [stock BZH][/stock], a subsidiary of Beazer Homes USA, will delve out a total of $2.5m to more than 1,000 N.C. borrowers due to alleged origination violations in 2007. The Atlanta-based homebuilder entered into a settlement agreement with the North Carolina Office of the Commissioner of Banks (NCCOB) today, but without admitting to the alleged violations, according to the company's statement.
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No Bottom in Sight for U.S. Homebuilders: Report

Due to increased fear regarding job markets and continued home price declines, U.S. home builders may not see a bottom to the market until late 2009, according to a quarterly report released Thursday by Fitch Ratings. "As weak as housing has been, it can soften further," said lead analyst Robert Curran in a media statement regarding the report.
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