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Friday, February 1, 2008

Beazer ends mortgage origination

Atlanta-based homebuilder Beazer Homes is getting out of giving out mortgages. Instead the company will offer its buyers mortgage services through Countrywide Financial Corp. Beazer also says it will stop homebuilding operations in several states. Beazer has been beset by turmoil in the housing industry that has caused its number of home closings to plunge. It cut 650 jobs, or 25 percent of its work force, in October, and suspended its quarterly dividend.

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