NovaStar Buys Oak Street Assets

Published December 01, 2006, 3:00 p.m. EST

1 Min Read

NovaStar Mortgage Inc., Kansas City, Mo., has reported the acquisition of 19 retail lending locations and certain other assets of Oak Street Mortgage LLC.The terms of the transaction were not disclosed. "Adding an experienced team of mortgage professionals serving consumers coast to coast gives us a strategic opportunity for growth," said Lance Anderson, chairman of NovaStar Mortgage and chief operating officer of NovaStar Financial Inc., the parent company. "In addition, this cost-effective operation should help further reduce our costs of loan origination." NovaStar can be found online at http://www.novastarhome.com.

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