LENNAR CORP /NEW/
Lennar Corporation is a large homebuilder in the United States with operations in various states, including East, Central, Texas, West, and Other. The company's business strategy includes maintaining strong operating margins, offering an Everything's Included® approach, innovating homebuilding, using a flexible operating structure, and utilizing digital marketing. Lennar's homebuilding operations involve the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land. The company's website is www.lennar.com, and its ticker symbol is LEN. Lennar's business segments include Homebuilding, Financial Services, Multifamily, and Lennar Other. Homebuilding is the most substantial part of the business, generating approximately 95% of consolidated revenues. Financial Services includes residential mortgage financing, title insurance and closing services, and commercial mortgage origination. Multifamily involves the development of multifamily communities, and Lennar Other includes strategic technology investments. Lennar's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land. The company uses a local operating structure with centralized management, which allows for local decision-making while maintaining strategic oversight. Lennar has been reducing its reliance on land it owns and increasing its access to land through options and joint ventures. Lennar's Financial Services segment offers conforming conventional, FHA-insured, and VA-guaranteed residential mortgage loan products, as well as other home mortgage products, primarily to buyers of its homes. The company also originates and sells commercial mortgage loans. Lennar's Multifamily business has been engaged in the development of multifamily communities since 2011 and manages and owns interests in funds and joint ventures. Lennar Other includes strategic technology investments in companies involved in technology initiatives that enhance the homebuying or home ownership experience, reduce SG&A expenses, and help the company stay at the forefront of homebuilding innovation.