M/I Homes, Inc. and subsidiaries operate as a builder of single-family homes. The company consists of two operations, such as homebuilding and financial services. Its homebuilding operations are aggregated into three 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. The company is offering homes for sale in 150 communities within 13 markets located in 8 states. The company’s financial services operations include originating and selling mortgages and collecting fees for title insurance and closing services. The company offers mortgage banking services to its homebuyers through its 100%-owned subsidiary, M/I Financial, LLC (M/I Financial). The company offers title services through subsidiaries that are either 100% or majority owned by the company. Product Lines, Design and Construction The company’s residential communities are located in suburban areas that are accessible through public and personal transportation. Its communities are designed as neighborhoods that fit existing land characteristics. In addition to single-family detached homes, the company offers attached townhomes in majority of its markets, as well as condominiums in its Columbus and Washington, D.C. markets. By offering a range of homes, the company is able to first-time, move-up, empty-nester and luxury homebuyers. Across all of the company’s divisions, it offers approximately 630 different floor plans designed to reflect current lifestyles and design trends. In addition, the company is developing new plans and communities primarily for the improving empty-nester market. All of its homes are constructed according to proprietary designs that meet the applicable Federal Housing Authority and the U.S. Veterans Administration requirements and all local building codes. As of December 31, 2014, the company had a total of 1,222 homes. Land Acquisition and Development The company continuously evaluates land acquisition opportunities in the normal course of its homebuilding business, and focuses on both the replenishment of its lot positions and adding to its lot positions in key submarkets to expand its market share. Financial Services The company sells its homes to customers who generally finance their purchases through mortgages. M/I Financial provides the company’s 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 the company’s housing markets. In addition to financing the purchase of new homes, M/I Financial provides refinance options for both previous M/I Homes purchasers and the general public. M/I Financial has been approved by the U.S. Department of Housing and Urban Development, the U.S. Veterans Administration, and the United States Department of Agriculture to originate mortgages that are insured and/or guaranteed by these entities. In addition, M/I Financial has been approved by the Federal Home Loan Mortgage Corporation (Freddie Mac) and by the Federal National Mortgage Association (Fannie Mae) as a seller and servicer of mortgages and as a Government National Mortgage Association (Ginnie Mae) issuer. The company also provides title and closing services to purchasers of its homes through its 100%-owned subsidiaries, TransOhio Residential Title Agency Ltd., M/I Title Agency Ltd., and M/I Title LLC, as well as the company’s 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 the company’s housing markets in Raleigh, Charlotte, Chicago, Indianapolis, and Cincinnati. Sales and Marketing During 2014, the company continued to focus its marketing efforts on first-time and move-up homebuyers, including empty-nester homebuyers and the age-targeted segment. The company markets and sells its homes under the M/I Homes and Showcase Collection (exclusively by the company) brands. Government Regulation and Environmental Matters The company’s mortgage company and title insurance agencies must comply with various federal and state laws and regulations (including requirements for participation in programs offered by Federal Housing Authority, the U.S. Veterans Administration, the United States Department of Agriculture, Ginnie Mae, Fannie Mae, and Freddie Mac). The company’s financial services operations are subject to regulation at the state and federal level, including regulations issued by the Consumer Financial Protection Bureau with respect to specific origination, selling and servicing practices. History The company was founded in 1973. It was incorporated in 1973 and commenced homebuilding activities in 1976.
m/i homes inc (MHO:New York)
3 Easton Oval
Columbus, OH 43219
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