Lennar finds bad drywall in 400 homes

Miami-based homebuilder Lennar has found defective drywall in 400 of its Florida homes as of May 31, according to a securities filing Friday. The company said it has set aside $39.8 million for repairs to the homes, which make up about 2.1 percent of the homes Lennar has built in the state. The U.S. Consumer Produce Safety Commission said last week that it has received more than 600 complaints from homeowners nationwide about defective drywall, most of them from Florida, Louisiana and Virginia. So far, Lennar has found defective Chinese-made drywall only in Florida.