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Beazer Homes agrees to settle mortgage fraud case

Wed Jul 1, 2009 4:01pm EDT

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WASHINGTON, July 1 (Reuters) - Beazer Homes USA Inc (BZH.N) agreed to pay $5 million to the U.S. government and up to $48 million to private homeowners to settle allegations that the Atlanta-based company was involved in fraudulent mortgage activities, the Justice Department said on Wednesday.

The settlement resolved allegations that Beazer and its mortage unit, Beazer Mortgage Corp., in making Federal Housing Administration insured loans were involved in fraudulent mortgage origination activities, the department said. (Reporting by James Vicini and Tabassum Zakaria; Editing by Leslie Gevirtz)



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