A Texas-based commercial lender has sued Beazer Homes USA Inc., its seven-member board and four current and former top executives, claiming that they engaged in “reckless tactics” that have placed the Atlanta-based home building company at the center of multiple federal investigations.
The suit by Advantage Investors Mortgage Corp. claims that Beazer’s practice of arranging mortgages through its lending arm, Beazer Mortgage Corp., for unqualified buyers — to whom it also sold Beazer-built homes — led to “a vast amount” of foreclosures that have undermined Beazer’s financial stability.
