NVR, Inc. Welcomes Michael J. DeVito to Its Board of Directors

NVR, Inc. Welcomes a New Member to its Board of Directors

NVR, Inc., a key player in the homebuilding and mortgage banking industry, has recently made a significant addition to its Board of Directors. Effective July 1, 2025, Michael J. DeVito joins as an independent director, bringing with him a wealth of experience and knowledge in the financial sector, particularly in mortgage financing.

Michael J. DeVito: A Wealth of Experience

Before his appointment at NVR, Mr. DeVito held the position of Chief Executive Officer and Executive Director for the Federal Home Loan Mortgage Corporation, popularly known as Freddie Mac, from 2021 to 2024. Under his leadership, Freddie Mac maintained its status as one of the largest providers of mortgage financing in the United States, making him a crucial figure in the industry. His extensive background in home lending spans over two decades, having worked for 24 years at Wells Fargo & Company in various senior management roles. Mr. DeVito's last role at Wells Fargo was Executive Vice President and Head of Home Lending, where he was instrumental in shaping company strategies and operations.

The inclusion of Mr. DeVito on the board is expected to strengthen NVR’s strategic direction, particularly in enhancing its mortgage banking services. His expert insight into the dynamics of the mortgage market is invaluable to a company that operates in the homebuilding sector, where financing is a critical aspect of sales and operations.

About NVR, Inc.

NVR, Inc. is recognized as one of the largest homebuilding and mortgage banking firms in the United States. The company operates primarily through two segments: homebuilding and mortgage banking. Under its umbrella, NVR sells and constructs homes through notable brands such as Ryan Homes, NVHomes, and Heartland Homes. Their operations span across 36 metropolitan areas in 16 states, including Washington, D.C.

The homebuilding segment focuses on creating value for customers through its diverse range of housing options, appealing to various market segments. On the other hand, the mortgage banking arm provides essential services to homebuyers, making the process of securing financing straightforward and accessible.

With Mr. DeVito’s wealth of knowledge in mortgage financing, NVR aims to enhance this aspect of its operations, potentially improving the overall customer experience.

Looking Ahead

As NVR, Inc. moves forward with Mr. DeVito on its Board of Directors, the company is poised for potential growth and expansion. His expertise could lead to improved strategies and practices, targeting enhanced customer satisfaction and competitive advantage in the market. NVR remains committed to innovation and excellence in both the homebuilding and mortgage sectors, advocating for responsible lending practices and sustainable growth.

For more information about NVR, Inc. and its service offerings, stakeholders and interested parties can visit their official websites: NVR, Inc., Ryan Homes, NVHomes, and Heartland Luxury Homes. This collaboration signifies a promising future for NVR as it continues to lead in the housing market while ensuring the best interests of its clients are prioritized.