Hovnanian Enterprises Inc (NYSE: HOV)

Hovnanian Enterprises, Inc. designs, constructs, markets, and sells single family homes, attached townhomes and condominiums, urban infill, and active lifestyle homes in planned residential developments. It is one of the nation’s largest builders of residential homes. Through its subsidiaries the company conducts homebuilding and financial services operations.

Revenue is generated primarily from the sale of homes to customers across various price points. The financial services segment earns income from originating mortgage loans and providing title services to homebuyers. These services are offered mainly to the buyers of the homes built by the homebuilding segment.

The company operates through the following segments: homebuilding and financial services.

• The homebuilding segment designs constructs markets and sells single family homes attached townhomes and condominiums urban infill and active lifestyle homes in planned residential developments serving first time, move up, luxury, active lifestyle and empty nesters buyers.

• The financial services segment provides mortgage loans and title services to homebuyers originates loans offers rate buydowns and coordinates the loan closing process.

The company ranks among the top 20 homebuilders in the United States by both homebuilding revenue and home deliveries. It competes with local private builders regional public companies and resale homes as well as rental housing. Competitive strengths include reputation price location design quality service and amenities. The firm pursues strategies such as quick move in homes build for rent arrangements disciplined land acquisition and joint ventures to enhance returns and manage risk.

The company serves individual home purchasers across several buyer categories including first time buyers move up buyers luxury buyers active lifestyle buyers and empty nesters. No specific customer names are disclosed in the filing.