Beazer Homes USA
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| Public | |
| Traded as | : BZH |
| Industry | Homebuilding |
| Headquarters | Atlanta, Georgia |
| Products | Homes |
| Website | www |
Beazer Homes USA is an American homebuilding company based in Atlanta, Georgia. The company builds and sells primarily single-family homes in twenty states of the continental United States. It also offers home mortgage services through its subsidiary, Beazer Mortgage Corporation. Beazer Homes USA was found guilty of mortgage fraud on a grand scale in the Subprime mortgage crisis and is credited with being a significant trigger of the Great Recession.
The company was originally established when Beazer, a British house builder, made its first foray into the USA with the purchase of Cohn Communities, a small Atlanta-based housebuilder. After buying two more US-based house building companies, the US operation was renamed Beazer Homes USA.
In March 2007, Beazer received a grand jury subpoena from the U.S. Attorney's Office in the United States District Court for the Western District of North Carolina seeking documents related to its mortgage origination services. Media reports have indicated that the company is under federal investigation for alleged mortgage fraud, a charge the company denies. Beazer has said the U.S. Attorney's Office has "made no allegations of wrongdoing by Beazer Homes at this time and that the statements made by a Federal Bureau of Investigation spokesperson about the fact of an investigation and the scope of the investigation were unauthorized, and should not have been made".
Beazer reported in a Securities and Exchange Commission (SEC) filing on May 3, 2007, that the SEC has launched an informal investigation of the company. The company said that the inquiry will determine whether any person or entity related to Beazer Homes has violated federal securities laws.
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