Profile: MDC Holdings Inc (MDC.N)
M.D.C. Holdings, Inc. (MDC), incorporated on May 17, 1985, is engaged in homebuilding operations in the United States. The Company with its subsidiaries has homebuilding operations across the United States, including the metropolitan areas of Denver, Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson, Riverside-San Bernardino, Los Angeles, San Francisco Bay Area, Washington D.C., Baltimore, Philadelphia, Jacksonville, Orlando, South Florida and Seattle.
The Company operates in two business segments homebuilding and financial services. The homebuilding operations consist of wholly owned subsidiary companies, which purchase finished lots for the construction and sale of single-family detached homes to first time and first-time move-up homebuyers under the name Richmond American Homes. The financial services and other segment consists of HomeAmerican Mortgage Corporation (HomeAmerican), which originates mortgage loans for homebuyers; Allegiant Insurance Company, Inc., A Risk Retention Group (Allegiant), which provides insurance coverage to homebuilding subsidiaries and certain subcontractors for homes sold by the Company’s homebuilding subsidiaries and for work performed in completed subdivisions; StarAmerican Insurance Ltd., which is a re-insurer on Allegiant claims; American Home Insurance Agency, Inc., which offers third-party insurance products to homebuyers; and American Home Title and Escrow Company, which provides title agency services to homebuilding subsidiaries and customers in certain states.
Homebuilding segments include land acquisition and development, home construction, sales and marketing, and customer service. As of December 31, 2013, the Company had 10 homebuilding operating divisions.
Financial Services and Other Segment
HomeAmerican is a mortgage lender and the principal originator of mortgage loans for the homebuyers. It has a centralized loan processing center where it originates mortgage loans for the homebuyers. HomeAmerican is authorized to originate Federal Housing Administration-insured (FHA), Veterans Administration-guaranteed (VA), Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac) and private investor mortgage loans. HomeAmerican also is an authorized loan servicer for Fannie Mae and Freddie Mac.
The Company’s insurance operations consist of three business divisions: Allegiant, StarAmerican and American Home Insurance. Allegiant and StarAmerican were formed to provide insurance coverage of homebuilding risks for the Company’s homebuilding subsidiaries and certain of its homebuilding subcontractors. American Home Insurance is an insurance agency that sells personal property and casualty insurance products in the same markets as its homebuilding subsidiaries and to its homebuyers. American Home Title provides title agency services to the Company and its homebuyers in Colorado, Florida, Maryland, Nevada and Virginia.
MDC Holdings Inc
Suite 500, 4350 S Monaco Street
DENVER CO 80237