NVR, Inc.

NVR, Inc.
Public (NYSE: NVR)
Industry Construction, Financial Services
Founded 1980 (1948 as "Ryan Homes" in Pittsburgh)
Headquarters Reston, Virginia, United States
Key people
 Paul C. Saville, President & CEO
Products Homes
Financial Services
Revenue $5.275 billion
$697.6 million
Number of employees
 5,401
Website nvrinc.com, Ryan Homes

NVR, Inc. (NYSE: NVR) is a United States homebuilding and mortgage company. The homebuilding unit sells and constructs new homes under the Ryan Homes, NVHomes, Rymarc Homes, Fox Ridge Homes and Heartland Homes trade names. NVR has provided homes for over 365,000 homebuyers while serving over 25 metropolitan areas in 15 states.[1]

Homebuilding

Ryan Homes Founded in 1948, Ryan Homes was originally established to provide affordable housing in the growing economy after World War II in and around its original headquarters in Pittsburgh.[1] Ryan Homes has constructed almost 300,000 homes.[1]

NVHomes Established in 1979 by Dwight Schar, NVHomes operates primarily in the Washington, D.C. and Baltimore metropolitan areas.[2]

Rymarc Homes Founded in 1982, Rymarc Homes serves the Columbia, South Carolina area, and markets its homes primarily to first-time homebuyers. Rymarc Homes and its associated communities were recently incorporated into the greater Ryan Homes brand.[3]

Fox Ridge Homes Founded in 1961, Fox Ridge Homes primarily serves the first-time and first-time move-up markets in the Nashville, Tennessee area.[4]

Heartland Homes Founded in 1984, Heartland Homes serves Morgantown, West Virginia and the greater Pittsburgh region, and markets to move-up homebuyers.[5]

NVR completed construction on 11,859 housing units in 2014, up from 11,834 units in 2013. The average settlement price per unit was $368,500 in 2014, up from $349,100 in 2013.[6]

Mortgage Banking

NVR Mortgage banking operates from sixteen branches, primarily to serve NVR homebuyers.[7] NVR Settlement Services primarily serve title and settlement services to homebuyers, also.

Delaware lawsuit

The attorney general of Delaware, Beau Biden, and his office, filed a 39-count consumer fraud lawsuit against NVR, Inc., while doing business under the "Ryan Homes" name.[8][9] Ryan Homes staff were alleged to have made false statements about the development of various community amenities in the specific development according to the complaints filed. The case was settled on April 1, 2010.[10]

References

  1. 1 2 3 "Ryan Homes > About". Retrieved 2013-10-18.
  2. ↑ "NVHomes - About NVHomes". Retrieved 2011-08-30.
  3. ↑ "About Rymarc Homes". Retrieved 2011-08-30.
  4. ↑ "About Fox Ridge Homes". Retrieved 2011-08-30.
  5. ↑ "About Heartland Homes". Retrieved 2013-08-08.
  6. ↑ "SEC.gov".
  7. ↑ "Why NVR Mortgage". Retrieved 2011-08-30.
  8. ↑ "Biden sues Ryan Homes for consumer fraud" (PDF). 2010-02-17. Retrieved 2011-07-18.
  9. ↑ Eichmann, Mark (2010-02-17). "Delaware sues home builder Ryan Homes". Retrieved 2011-07-18.
  10. ↑ "Biden Settles Consumer Fraud Charges with Ryan Homes" (PDF). 2010-04-01. Retrieved 2011-07-18.

External links

This article is issued from Wikipedia - version of the Wednesday, November 11, 2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.