NovaStar Completes $1B Deal

Published September 01, 2006, 2:00 p.m. EDT

1 Min Read

NovaStar Financial Inc., a real estate investment trust based in Kansas City, Mo., has announced the completion of a $1 billion securitization of nonconforming mortgage assets by its subsidiary, NovaStar Mortgage.The transaction, NovaStar Mortgage Funding Trust series 2006-4, offered 17 rated classes of certificates with a face value of $1.02 billion, NovaStar said. The lead managers of the deal were Deutsche Bank Securities, RBS Greenwich Capital, and Wachovia Securities. NovaStar Mortgage can be found on the Web at http://www.novastarmortgage.com.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

Appraisals

Atlas deal signals shift to live GSE disaster monitoring

Atlas VMS acquired CloseClear.ai to help lenders prevent post-appraisal GSE buybacks. The tech continuously matches active pipelines against live disaster maps to plug closing blind spots.

By Colin McNamara
Reporter

September 9
Secondary markets

Q3 agency MBS lags targets as home equity, non-QM gain ground

BTIG is predicting mortgage origination volume for loanDepot, PennyMac Financial Services, Rithm, Rocket Cos., and UWM Holdings combined will be 5% lower than the industry consensus for the third quarter.

By Brad Finkelstein
Originations Editor

September 9
Cyber Security

Cyber insurance: Rising AI risk opens a growth opportunity

Cyber policies must keep pace with a surge in incidents fueled by AI, as well a growing trend toward account takeovers.

By Daniel Wolfe
Editor-in-chief, Digital Insurance

September 9
Cyber Security

Researchers find a hole in Microsoft's anti-spoofing fix

Researchers showed a message with no return address slips past Reject Direct Send. Credit unions were told to close this kind of gap in 2021.

By Carter Pape
Technology Reporter

September 9
Career moves

NEXA appoints new CEO, Mike Kortas to be executive partner

Also, the Broker Action Coalition announced Jamie Cavanaugh as its next CEO, while Dark Matter Technologies added two new members to its leadership team.

By Colin McNamara
Reporter

September 8
The best default strategy starts before default

Servicers have spent much of the past decade operating in a relatively benign default environment. But there are growing signs that may be changing.

Partner Insights from LoanCare

Load More