NovaStar Renames Warehouse Unit

Published July 13, 2006, 2:00 p.m. EDT

1 Min Read

The warehouse lending unit of NovaStar Financial Inc., Kansas City, Mo., until now known as NovaStar Capital Inc., has been renamed WarehouseUSA Capital Corp.Back in May, NovaStar Capital, headquartered in Roswell, Ga., acquired the warehouse lending business of nBank NA, Commerce, Ga. As a result, it has expanded its client base, and now approximately 110 lenders have active lines with WarehouseUSA, the company said. Prior to the acquisition, nBank had 40 relationships. The company said it has created a new website to provide clients a user-friendly online environment for transactions and management of their warehouse lines. The site also offers resources for lenders and investors on the economics of the mortgage process and warehouse lending. The new site can be found at http://www.warehouseusa.com.

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