NVR is one of the largest U.S. homebuilders operating across multiple metropolitan areas, constructing and selling single-family homes, townhomes, and condominiums primarily through three regional brands targeting different buyer segments. The company acquires finished building lots from third-party developers rather than engaging in land development itself, allowing it to minimize capital requirements and development risk while maintaining flexibility to terminate agreements. NVR generates revenue from home sales and operates a mortgage banking subsidiary that originates loans exclusively for its homebuyers, generating additional income from origination fees, loan sales gains, and ancillary services before selling most loans into secondary markets.