the United Kingdom in the homebuilding segment ("About" 1).
Centex also participates in the manufactured home segment through Cavco Industries, based in Arizona. Cavco Retail Group is a subsidiary of Cavco and is the largest manufactured home retailer in Arizona. In addition, Cavco Retail has locations in Texas, New Mexico and Colorado. Manufactured homes provide an alternative to traditional home construction techniques, and are generally more affordable than traditional housing. Cavco was the thirteenth largest producer of manufactured homes in the United States in 2001 ("About" 1).
Centex also has a financial services business unit, as do many of its competitors, which is designed to help home buyers find mortgages easily and quickly. This segment can be a significant source of revenue and margin, as well. Centex's financial services operate under several brands, including CTX Mortgage, Centex Home Equity, and Centex Title and Insurance. CTX Mortgage has offices in more than 40 states serving more than just Centex customers. During the first half of the company's current fiscal year, CTX Mortgage wrote more than $7 billion in loans, and wrote more than $9 billion during fiscal 2001 ("About" 2). Centex Home Equity offers non-conforming mortgages and home equity loans through mortgage brokers as well as on a direct basis to consumers. Licensed in 48 states, this brand has a portfolio of more than $3 billion loans. Centex Title and Insurance provides title insurance and settlement services as well as homeowners insurance. As with the other financial services brands, Centex Title and Insurance does not limit its activities to Centex customers.
The investment real estate business unit acquires and develops commercial real estate and special use facilities. Centex Development, Centex Commercial Development and Centex Multi-Family Company are brands in this business segment, which moves the company away from its tradit...