The Kansas City Business Journal (Free subscription) | 08/10/2008
NovaStar Financial Inc. announced that Chief Accounting Officer Todd Phillips resigned on Sept. 30.
kansascity.com (Free subscription) | 20/09/2008
In a twist to the turmoil engulfing Wall Street, dozens of NovaStar Financial shareholders are objecting to bankrupt Lehman Brothers Holdings’ proposed $1.75 billion sale of its broker-dealer unit.
The Kansas City Business Journal (Free subscription) | 20/08/2008
NovaStar Financial Inc. reported a profit in the second quarter and a loss for the first half of 2008, and admitted that its financial situation remains volatile.
kansascity.com (Free subscription) | 20/08/2008
NovaStar Financial Inc., a former subprime lender that nearly disappeared in the mortgage meltdown, has affirmed that “substantial doubt” remains about its ability to survive.
The Kansas City Business Journal (Free subscription) | 14/08/2008
NovaStar Financial Inc. bought a majority interest in an appraisal management company for an undisclosed amount.
kansascity.com (Free subscription) | 14/08/2008
Former mortgage lender NovaStar Financial Inc. announced today that it had acquired a majority interest in PipeFire LLC, which provides residential appraisal and similar services. The terms of the deal, which closed Aug. 8, were not disclosed.
The Kansas City Business Journal (Free subscription) | 31/07/2008
NovaStar Financial Inc., the Kansas City-based subprime mortgage lender beset with problems, now has another issue to deal with: its landlord.
Seeking Alpha (Free subscription) | 14/07/2008
Mike Stathis submits: On Friday, IndyMac (IMB) joined the long and growing list of bankrupt mortgage companies (Accredited Home Lenders, Novastar Financial, Fremont General and dozens of others) that have been taken down by what has already surpassed mortgage and bank losses of the Savings & Loan Crisis. While Indy marks only the sixth bank failure since the official start of the banking-real estate...
The Kansas City Business Journal (Free subscription) | 09/07/2008
A new class-action lawsuit filed against NovaStar Financial Inc. alleges that the company and its officers mishandled their responsibilities for overseeing the employee retirement plan when they invested heavily in NovaStar's stock.
Callahan's Cleveland Diary (Free subscription) | 02/07/2008
A great piece by Charu Gupta in the new (and close to last) Free Times. A former account executive for the nearly bankrupt Novastar Financial Inc. and a former mortgage broker at the now-defunct Equity Consultants, an independent mortgage brokerage firm once in Richfield, spoke to the Free Times on the condition of anonymity. Both continue [...]
The Kansas City Business Journal (Free subscription) | 25/06/2008
A NovaStar Financial Inc. shareholder has sued several of the company's top officers, claiming the subprime mortgage lender violated basic accounting principals and made the company's loan portfolio look creditworthy when it wasn't.
kansascity.com (Free subscription) | 25/06/2008
A shareholder of subprime lender NovaStar Financial Inc. sued the company's six directors Tuesday, alleging they were responsible for issuing false and misleading statements about NovaStar's financial condition.
The Kansas City Business Journal (Free subscription) | 06/06/2008
Finally, some good news for NovaStar Financial Inc.: A federal judge in the Western District of Missouri has dismissed a securities class-action lawsuit against the company.
kansascity.com (Free subscription) | 06/06/2008
NovaStar Financial Inc. on Thursday drew closer to bankruptcy after a lender accelerated its loan and declared $51 million in obligations immediately due and payable.
The Kansas City Business Journal (Free subscription) | 05/06/2008
NovaStar Financial Inc., which defaulted in March and April on a credit agreement with JPMorgan Chase bank, received notification that the creditor will seek legal remedies available to it, which NovaStar said could cause it to file bankruptcy.
