Profile: M/I Homes Inc (MHO_pa.N)
27 Jul 2016
M/I Homes, Inc., incorporated on November 22, 1991, is a builder of single-family homes. The Company consists of two distinct operations: homebuilding and financial services. The Company's homebuilding operations are aggregated for reporting purposes into three reporting segments: the Midwest, Mid-Atlantic and Southern regions. The Company's financial services operations support its homebuilding operations by providing mortgage loans and title services to the customers of its homebuilding operations and is reported as its own segment. The Company is engaged primarily in the construction and sale of single-family residential property in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Tampa and Orlando, Florida; Austin, Dallas/Fort Worth, Houston and San Antonio, Texas; Charlotte and Raleigh, North Carolina, and the Virginia and Maryland suburbs of Washington, D.C. The Company designs, sells and builds single-family homes on developed lots, which it develops or purchases ready for home construction. The Company also purchases undeveloped land to develop into developed lots for future construction of single-family homes and, on a limited basis, for sale to others. The Company's homebuilding operations operate across three geographic regions in the United States.
The Company conducts mortgage financing activities through its subsidiary, M/I Financial, LLC (M/I Financial), which originates mortgage loans primarily for purchasers of the Company's homes. The Company and M/I Financial also operate majority-owned subsidiaries that provide title services to purchasers of the Company's homes. The Company markets and sells homes primarily under the M/I Homes and Showcase Collection (exclusively by M/I Homes) brands. The Company's homebuilding operations include design, market, construct and sell single-family homes and attached townhomes to first-time, move-up, empty-nester and luxury buyers. In addition to home sales, its homebuilding operations include the sale of land and lots. The Company primarily constructs homes in planned development communities and mixed-use communities. The Company offers homes for sale in approximately 175 communities within 14 markets located in nine states. The Company's residential communities are generally located in suburban areas that are easily accessible through public and personal transportation. In addition to single-family detached homes, the Company also offers attached townhomes in some of its markets.
The Company sells its homes to customers who generally finance their purchases through mortgages. M/I Financial provides its customers with financing and coordinates and expedites the loan origination transaction through the steps of loan application, loan approval, and closing and title services. M/I Financial provides financing services in all of its housing markets. The Company also provides title and closing services to purchasers of its homes through its subsidiaries, TransOhio Residential Title Agency Ltd., M/I Title Agency Ltd. and M/I Title LLC, and its majority-owned subsidiary, Washington/Metro Residential Title Agency, LLC. Through these entities, the Company serves as a title insurance agent by providing title insurance policies and examination and closing services to purchasers of its homes in Columbus, Tampa, Orlando, San Antonio, Houston and the Washington, D.C. markets. In addition, TransOhio Residential Title Agency Ltd. provides examination and title insurance services to its housing markets in Raleigh, Charlotte, Chicago, Indianapolis and Cincinnati.
M/I Homes Inc
3 Easton Oval Ste 500
COLUMBUS OH 43219