Subprime lender NovaStar Financial, Kansas City, Mo., has reported that it lost $54.5 million in the second quarter, noting that the nonprime securitization market "continues to be illiquid."During the quarter, NovaStar set aside $73 million for credit losses and took a $22.5 million impairment charge on mortgage securities. In the same quarter last year, the nondepository earned $33 million. Despite the loss, its shares were up slightly in trading Friday morning.
The law, which went into effect in late 2025, led MBA lawyers to call New Jersey "the most expansive and aggressive disparate-impact regime in the nation."
Bob Marseilles joined Evergreen Moneysource to get the wholesale unit going following starting the TPO unit for First Tech Federal Credit Union.
Fannie Mae seller guide update SEL-2026-08 includes a definition of present, residential and subordinate use cases in the new context of highest and best use.
Along with a 25% increase in production, Vishal Garg's scheme aims for monthly revenue growth of $7 million and a reduction of cash burn from $4 million to $0.
The big three's trade group has said they operate legally and protect the industry with a trio of reports. FHFA also is opening up VantageScore for all lenders.
eXp World Holdings, the parent company of eXp Realty, and Kind Lending ended their mortgage joint venture, Success Lending, it was reported Wednesday.
