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Dream Finders finally buys Beazer, cites mortgage benefits
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After months of trying , Dream Finders Homes finally acquired Beazer Homes, creating a larger pool for its mortgage business.
Processing ContentDream Finders entered a definitive agreement to buy Beazer in an all-cash transaction for about $2.2 billion, the companies announced in a press release Friday.
Beazer shareholders will receive $33.50 in cash for each common stock they own, slightly below Thursday's closing price of $34.07.
How this deal affects the mortgage industryBeazer's Mortgage Choice program may be folded into Dream Finders' lending operation, Jet HomeLoans — a move with implications for the industry.
Beazer does not own an in-house mortgage company, instead its Mortgage Choice program helps buyers compare competing loans officers in their area from prescreened lenders.