NovaStar Sub Completes $2.07B Deal

Published February 23, 2005, 3:00 p.m. EST

1 Min Read

NovaStar Financial Inc., Kansas City, Mo., has announced that its subsidiary NovaStar Mortgage has completed its first securitization of 2005, a deal with a face value of approximately $2.07 billion.The transaction, NovaStar Mortgage Funding Trust, series 2005-1, was underwritten by lead managers RBS Greenwich Capital, Wachovia Securities, and Deutsche Bank Securities, along with co-manager Morgan Stanley. NovaStar Mortgage can be found on the Web at http://www.novastarmortgage.com.

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