What are Mi Homes Inc's Business Segments?
Our residential communities are generally located in suburban areas that are
easily accessible through public and personal transportation. Our communities
are designed as neighborhoods that fit existing land characteristics. We strive
to achieve diversity among architectural styles within a community by offering
a variety of house models and several exterior design options for each model
and preserve existing trees and foliage whenever practicable. Normally, homes
of the same type or color may not be built next to each other. We believe our
communities have attractive entrances with distinctive signage and landscaping
and our added attention to community detail avoids a “development”
appearance and gives each community a diversified neighborhood appearance.
We sell our homes to customers who generally finance their purchases through
mortgages. M/I Financial provides our customers with competitive financing and
coordinates and expedites the loan origination transaction through the steps
of loan application, loan approval, and closing and title services. M/I Financial
provides financing services in all of our housing markets. We believe that our
ability to offer financing to customers on competitive terms as a part of the
sales process is an important factor in completing sales. In addition to financing
the purchase of new homes, M/I Financial also provides refinance options for
both previous M/I Homes purchasers and the general public.
M/I Financial has been approved by the U.S. Department of Housing and Urban
Development, the VA and the USDA to originate mortgages that are insured and/or
guaranteed by these entities. In addition, M/I Financial has been approved by
the Federal Home Loan Mortgage Corporation (“Freddie Mac”) and by
the Federal National Mortgage Association (“Fannie Mae”) as a seller
and servicer of mortgages and as a Government National Mortgage Association
(“Ginnie Mae”) issuer. Our agency approvals, along with a sub-servicing
relationship, allow us to sell loans on either a servicing released or servicing
retained basis. This option provides flexibility and additional financing options
to our customers.
|