What are Nvr Inc's Business Segments?
Homebuilding
Products
We offer single-family detached homes, townhomes and condominium buildings with
many different basic home designs. These home designs have a variety of elevations
and numerous other options. Our homes combine traditional, transitional, cottage
or urban exterior designs with contemporary interior designs and amenities,
generally include two to four bedrooms and range from approximately 1,000 to
7,000 square feet. The prices at which we settled homes ranged from approximately
$136,000 to $1.9 million and averaged approximately $379,900.
Markets
Our four reportable homebuilding segments operate in the following geographic
regions:
Mid Atlantic:
Maryland, Virginia, West Virginia, Delaware and Washington, D.C.
North East:
New Jersey and Eastern Pennsylvania
Mid East:
New York, Ohio, Western Pennsylvania, Indiana and Illinois
South East:
North Carolina, South Carolina, Tennessee and Florida
Mortgage Banking
We provide a number of mortgage related services to our homebuilding customers
through our mortgage banking operations. Our mortgage banking operations also
include separate subsidiaries that broker title insurance and perform title
searches in connection with mortgage loan closings for which they receive commissions
and fees. Because NVRM originates mortgage loans almost exclusively for our
homebuilding customers, NVRM is dependent on our homebuilding segment.
NVRM sells all of the mortgage loans it closes to investors in the secondary
markets on a servicing released basis, typically within 30 days from the loan
closing. NVRM is an approved seller/servicer for Fannie Mae (“FNMA”)
mortgage loans and an approved seller/issuer of Ginnie Mae (“GNMA”),
Freddie Mac (“FHLMC”), Department of Veterans Affairs (“VA”)
and Federal Housing Administration (“FHA”) mortgage loans.
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