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NVR, INC. APPOINTS NEW MEMBER TO BOARD OF DIRECTORS

1. Michael DeVito joins NVR's Board of Directors on July 1, 2025. 2. DeVito previously led Freddie Mac, a major mortgage financier. 3. NVR operates in homebuilding and mortgage banking sectors nationally. 4. DeVito's expertise may enhance NVR's mortgage-related operations. 5. NVR's homebuilding brands include Ryan Homes, NVHomes, and Heartland Homes.

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FAQ

Why Bullish?

DeVito's experience with Freddie Mac may lead to improved financing strategies for NVR, boosting investor confidence.

How important is it?

Hiring a director with significant mortgage banking experience aligns with NVR's dual focus on homebuilding and mortgage banking, likely influencing market performance positively.

Why Long Term?

The strategic appointment suggests a future focus on enhancing mortgage operations which may take time to materialize into financial performance.

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FREWFCLENDVN
, /PRNewswire/ -- NVR, Inc. (NYSE: NVR) announced today that Michael J. DeVito has been appointed to its Board of Directors as an independent director effective July 1, 2025. Mr. DeVito was the Chief Executive Officer and an Executive Director of Federal Home Loan Mortgage Corporation (Freddie Mac), one of the largest providers of mortgage financing in the country, from 2021 to 2024. Prior to working for Freddie Mac, Mr. DeVito worked for twenty-four years at Wells Fargo & Company in various home lending senior management positions of increasing responsibility. The last position Mr. DeVito held was Executive Vice President and Head of Home Lending. About NVR NVR, Inc. operates in two business segments: homebuilding and mortgage banking. The homebuilding segment sells and builds homes under the Ryan Homes, NVHomes, and Heartland Homes trade names, and operates in thirty-six metropolitan areas in sixteen states and Washington, D.C. For more information about NVR, Inc. and its brands, see www.nvrinc.com, www.ryanhomes.com, www.nvhomes.com and www.heartlandluxuryhomes.com. SOURCE NVR, INC. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In Also from this source

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