NVR
16 named things its latest annual report says its results depend on, each in the company's own words. 10 of them are also named by other companies we've read.
Suppliers
Third-party land developers (finished lots)
depends on · typically range up to 10% of the aggregate purchase price of the finished lotsnamed as a riskAn insufficient supply of building lots in one or more of our markets, an inability of our developers to deliver finished lots in a timely fashion, or our inability to purchase or finance building lots on reasonable terms could have a material adverse effect on our sales, profitability, stock performance, ability to service our debt obligations and future cash flows.Risk factors (Item 1A)
Partners and platforms
Mortgage repurchase agreement
depends on · up to $150 millionnamed as a riskOur mortgage banking business sells all of the loans it originates into the secondary market, usually within 30 days from the date of closing, and has up to $150 million available under a repurchase agreement to fund mortgage closings.Risk factors (Item 1A)
Secondary mortgage market / mortgage-backed securities
depends onnamed as a riskOur mortgage banking operations are also dependent upon the securitization market for mortgage-backed securities, and could be materially adversely affected by any fluctuation or downturn in such market.Risk factors (Item 1A)
Other companies
Places
Mid Atlantic region (Maryland, Virginia, West Virginia, Delaware, Washington, D.C.)
operates inMid Atlantic: Maryland, Virginia, West Virginia, Delaware and Washington, D.C.Business (Item 1)
Pittsburgh, PA
operates inHeartland Homes operates in the Pittsburgh, PA metropolitan area.Business (Item 1)
Hazards
Hurricanes
named as a riskExtreme weather or other events, such as significant hurricanes, tornadoes, earthquakes, forest fires, floods, snowfalls, terrorist attacks or war may affect our markets, our operations and our profitability.Risk factors (Item 1A)
Also named by AIG, AN, ASO, BAC, BBY, BJ, BPOP, BRO and 89 more
Building moratoriums
subject tonamed as a riskIn addition, we have from time to time been subject to, and may also be subject in the future to, periodic delays in our homebuilding projects due to building moratoriums in the areas in which we operate or delays in receiving the necessary governmental approvals.Risk factors (Item 1A)
Commodities and inputs
Regulators
Fannie Mae (FNMA)
subject tonamed as a riskAny significant impairment of our eligibility to sell/service these loans could have a material adverse impact on our mortgage operations.Risk factors (Item 1A)
Also named by ABR, AGNC, BAC, CBRE, DX, FICO, FSUN, JLL and 7 more
Freddie Mac (FHLMC)
subject tonamed as a riskPotential changes to federal laws and regulations could have the effect of limiting the activities of FNMA, GNMA and FHLMC, the entities that provide liquidity to the secondary mortgage market, which could lead to increases in mortgage interest rates.Risk factors (Item 1A)
Also named by ABR, AGNC, BAC, CBRE, DX, FICO, FSUN, LEN and 5 more
Ginnie Mae (GNMA)
subject tonamed as a riskWe are an approved seller/servicer of FNMA and FHLMC mortgage loans and an approved seller/issuer/servicer of GNMA, VA and FHA mortgage loans, and are subject to all of those agencies’ rules and regulations.Risk factors (Item 1A)
U.S. Department of Veterans Affairs (VA)
subject tonamed as a riskNVRM is subject to the rules and regulations of FNMA, GNMA, FHLMC, VA and FHA.Business (Item 1)
Federal Housing Administration (FHA)
subject tonamed as a riskNVRM is subject to the rules and regulations of FNMA, GNMA, FHLMC, VA and FHA.Business (Item 1)
Consumer Financial Protection Bureau (CFPB)
subject toIn addition, NVRM is subject to regulation at the state and federal level, including regulations issued by the Consumer Financial Protection Bureau (the “CFPB”) with respect to specific origination, selling and servicing practices.Business (Item 1)
Also named by ABNB, AFRM, ALLY, AN, AUB, AXP, BAC, CASH and 61 more
Laws and programs
Real Estate Settlement Procedures Act (RESPA)
subject tonamed as a riskIn addition, we are subject to regulation at the state and federal level with respect to specific origination, selling and servicing practices including the Real Estate Settlement and Protection Act.Risk factors (Item 1A)
Also named by COMP