NVR, Inc. is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings. To fully serve customers of its homebuilding operations, it also operates a mortgage banking business. It conducts its homebuilding activities directly, except for Rymarc Homes, which is operated as a wholly owned subsidiary. Its mortgage banking operations are operated primarily through a wholly owned subsidiary, NVR Mortgage Finance, Inc. (NVRM). It operates in multiple locations in 12 states, primarily in the eastern part of the United States, approximately 34% of its home settlements during the year ended December 31, 2008, occurred in the Washington, D.C. and Baltimore, MD metropolitan areas, which accounted for 45% of its homebuilding revenues during 2008. The homebuilding operations include the construction and sale of single-family detached homes, townhomes and condominium buildings under four trade names: Ryan Homes, NVHomes, Fox Ridge Homes and Rymarc Homes.