Centex (NYSE: CTX) began trading publicly in 1969. Since the company’s founding in
1950 as a Dallas-based residential construction company, it has evolved into
a company whose principal operations are focused on residential and commercial
construction and related activities, including mortgage financing.
As
of 2007, its subsidiary companies operated in the principal business segments
of Home Building and Financial Services.
Home Building’s operations
currently involve the purchase and development of land or lots and the construction
and sale of detached and attached single-family homes (including resort and
second home properties and lots) and land or lots. The company has participated
in the homebuilding business since 1950 and, in 2005, is the 4th largest homebuilder
in the U.S., based on the total number of closings.
Financial
Services’ operations consist primarily of mortgage lending, title agency services,
and the sale of title insurance and other insurance products. These activities
include mortgage origination, servicing, and other related services for
homes sold by its subsidiaries and others. The company has been in the mortgage
lending business since 1973. |
