Standard Pacific Corp. is a geographically diversified business spans many of the housing markets, including metropolitan markets in California, Florida, the Carolinas, Texas, Arizona, and Colorado. The Company operates in two principal businesses: homebuilding and financial services (consisting of its mortgage financing and title operations). Its homebuilding operations construct and sell single-family attached and detached homes. Its mortgage financing operation provides mortgage financing to its homebuyers in substantially all of the markets in which it operates, and sells substantially all of the loans it originates in the secondary mortgage market. Its title service operation provides title examinations for its homebuyers in Texas.