NovaStar Mortgage Inc., Kansas City, Mo., has been assigned a residential primary servicer rating of RPS3 for subprime loans by Fitch Ratings.Fitch said the rating reflects NovaStar's "seasoned" executive and servicing management teams, "established" training programs, "effective" loan administration procedures and controls, and "capable" default management strategies. Fitch rates residential servicers on a scale of 1 to 5, with 1 being the highest rating. The rating agency can be found online at http://www.fitchratings.com.
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