NovaStar Rolls Out FHA/VA Program

NovaStar Mortgage Inc., Westwood, Kan., has announced plans to step up its government lending operation in the wake of its recent approval as a direct-endorsed government lender.Plans call for a rollout to all of NovaStar's branch and wholesale broker communities by the end of the first quarter of 2003, the company said. The program is now being offered to a select group of NovaStar?s 180 branch offices each month. In connection with the new program, NovaStar said it will offer extensive training in government lending for brokers "who wish to gain a better understanding of compliance issues and other intricacies of government lending." All brokers must pass a standardized test in order to offer Federal Housing Administration and Department of Veterans Affairs products. NovaStar Mortgage is a subsidiary of NovaStar Financial Inc., a real estate investment trust that originates single-family residential mortgage loans. NovaStar can be found on the Web at http://www.enovastar.com.