Uncle Sam & Beazer – This Just Got Real Serious

Announced today on all kinds of traditional and non-traditional news outlets, the news that Beazer Homes is being investigated by the FBI for, among other things, subprime lending to unqualified borrowers and, according to the CNBC piece, "fraud in general".

I can’t say I’m surprised by the news, but I’ve not personally had much experience with sub-prime lending and so I can’t speak from experience on sordid, back room dealings and shady loan sharks.  It appears to be only a matter of time before similar revelations lGenie_imageead to widespread reforms – some of them much needed – throughout our industry.   

Look for more on this from this week’s Mortgage Genie, to be posted in just a few days.

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