NovaStar Completes $2.5B Deal

Published November 19, 2004, 3:00 p.m. EST

1 Min Read

NovaStar Financial Inc., a real estate investment trust based in Kansas City, Mo., has announced the completion of a $2.5 billion securitization by its subsidiary, NovaStar Mortgage.The transaction, NovaStar Mortgage Funding Trust series 2004-4, offered 15 rated classes of certificates with a face value of $2.47 billion, NovaStar said. The lead managers of the deal are 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

Economy

Jobs rebound in March, unemployment at 4.3%

New jobs in health care largely drove the gains, while the federal workforce and finance continued to shrink.

By Ebrima Santos Sanneh
Reporter

April 3
Law and legal issues

Finance of America faces early data breach class action

Finance of America has not disclosed any incident, but a consumer filed an immediate lawsuit over a lone report of a ransomware gang's recent hack.

By Andrew Martinez
Reporter

April 3
Originations

Rocket leads UWM in 2025 HMDA loan count, trails in volume

United Wholesale Mortgage lost ground to RKT in one category but held onto a healthy lead in another, an analysis of Home Mortgage Disclosure Act data shows.

By Bonnie Sinnock
Capital Markets Editor

April 3
Reverse mortgages

March HECM bump masks a deeper slowdown

HECM endorsements rose 16% in March to 2,117 loans, but monthly volumes remain near their slowest pace since last summer as proprietary reverse products quietly steal market share.

By Spencer Lee
Technology Reporter

April 2
Credit

Mortgage credit costs jumped 10x in 4 years: CHLA

Which parties are responsible for the surge persisted as a source of debate as community lenders released updated survey data reflecting their average expense.

By Bonnie Sinnock
Capital Markets Editor

April 2
Mortgage rates

Mortgage rates hit a 7-month high, as buyers retreat

The 30-year fixed rate climbed to 6.46% this week, its highest mark since September, as mortgage applications fell 10.4% and sellers outnumber buyers by a record 46%.

By Colin McNamara
Reporter

April 2

Load More