NovaStar Financial, Inc. - Review by MLS

Novastar is one of the nation’s leading lenders and investors in nonconforming residential mortgage loans. Founded in 1996, NovaStar efficiently brings together the capital markets and American families financing their homes.

We focus on single-family, nonconforming mortgage loans, involving borrowers whose loan size, credit details or other circumstances fall outside conventional agency mortgage loan guidelines. In a well-managed portfolio, these loans offer higher net interest margins than conventional agency loans.

NovaStar originates loans nationwide through NovaStar affiliated mortgage brokers, which we refer to as branches, independent brokers and direct contacts with borrowers. We also provide servicing for loans we retain in our portfolio, originate conforming mortgage loans, and offer title and settlement services.

As a Real Estate Investment Trust (REIT), NovaStar generates most of its earnings through mortgage securities held in portfolio. We put in place long-term funding for our mortgage lending by pooling loans as collateral for bonds and selling a portion of these securities to investors. In the process, NovaStar retains a high-return portfolio of securities backed by specified cash flows from these loans.

We manage risk through carefully developed underwriting standards, mortgage insurance, pooling and sale of loans, and interest rate hedging strategies.

NovaStar serves the nationwide market from our headquarters in Kansas City, Missouri. Our wholesale loan origination groups are based in Orange County, California, Cleveland, Ohio and Flint, Michigan. Retail operations are conducted from offices in Kansas City, Orange County and the Baltimore, Maryland, area.

Our common stock is traded on the New York Stock Exchange under the symbol “NFI.”

Novastar has 9 complaints registered at the Bad Business Bureau.

1. 5/11/2005 7:46:36 PM 

America's Servicing Company ripoff irresponsible and unreachable, I fear for the future of my home loan Frederick, Maryland *Consumer Comment ..You can help...
Mortgage Companies: America's Servicing Company  Maryland		Author: Kailua-Kona, Hawaii

2. 5/3/2005 7:57:03 PM 

CASTLE POINT MORTGAGE RIPOFF JACKED UP FEES ON CLOSING STATED FANNIE MAE REQUIRED IT ELKRIDGE Maryland *UPDATE ..it wasn't the interest rate that was raised it was their originating fees and there gross miscalculations on Ins, stamps, AKA INCOMPETENCE & so forth
Mortgage Companies: CASTLE POINT MORTGAGE  Maryland		Author: FT LAUDERDALE, Florida

3. 4/29/2005 8:16:00 AM

Jay Beckstrand, Twin Cities Group, Novastar Home Mortgage, First Metropolitan ripoff dishonest sexest rude scum of the business world fraud should be in jail Bloomington Minnesota
Mortgage Companies: Jay Beckstrand ,Twin Cities Group, Novastar Home Mortgage, First Metropolitan  Minnesota		Author: Stillwater, Minnesota

4. 3/3/2005 1:09:00 PM

Twin Cities Group - Novastar Home Mortgage - low life, snake, bad business practices sucked the life out of anyone he came in contact with Bloomington Minnesota
Mortgage Companies: Twin Cities Group-Novastar Home Mortgage-  Minnesota		Author: edina, Minnesota

5. 3/2/2005 1:35:00 PM

J. Beckstrand - Twin Cities Group - Novastar Home Mortgage - First Metropolitan Mortgage ripoff Horrible business practaces, will screw over over anyone he does business with including employee's Bloomington Minnesota
Mortgage Companies: J. Beckstrand - Twin Cities Group - Novastar Home Mortgage - First Metropolitan Mortgage  Minnesota		Author: MINNEAPOLIS, Minnesota

6. 1/29/2005 11:18:34 PM 

Debt Free Management Services Aka National Debt Free Aka Nova Star Mortgage ripoff UPDATE phone. Irvine California *Consumer Suggestion ..Find Renee Everhart a.k.a. DFMS a.k.a. NovaStar
Corrupt Companies: Debt Free Management Services Aka National Debt Free Aka Nova Star Mortgage  California		Author: Sunrise, Florida

7. 1/29/2005 3:40:00 PM

NDFM A.k.a. National Debt Free Management A.k.a. DFMS A.k.a Debt Free Management Services A.k.a. NovaStar A.k.a. Renee Everhart Stole money from me and many others across the country Irvine California
Credit & Debt Services: National Debt Free Management, DFMS, Debt Free Management Services, NovaStar, Renee Everhart  California		Author: Los Angeles, California

8. 1/11/2005 8:25:00 AM

Novastar collusion lies deceit broken promises Ripoff Las Vegas Nevada
Financial Services: Novastar  Nevada		Author: Las Vegas, Nevada

9. 5/22/2004 12:58:01 AM 

Debt Free Management Services Aka DFMS aka NovaStar ripoff Irvine California *UPDATE ..DFMS update trust account
Corrupt Companies: Debt Free Management Services Aka DFMS - NovaStar  California		Author: Glendale, Arizona