NovaStar Mortgage Inc., Kansas City, Mo., has announced that it will resume business operations in Georgia with its full product line, citing recent developments related to the Georgia Fair Lending Act.The company noted that GFLA's recent revision prompted Standard & Poor's to resume rating residential mortgage-backed securitizations containing Georgia mortgage loans. "NovaStar pulled out of the state of Georgia in January when Standard & Poor’s announced that mortgage securities with collateral originated in Georgia would go unrated by the firm, and would therefore be unmarketable," the company said. NovaStar Mortgage, a division of NovaStar Financial Inc., originates single-family residential mortgage loans and related services.
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