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.
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