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Beazer to Pay $53 Million in Mortgage Settlement 

Jul 02, 2009By

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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