Kansas City
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Saxon Mortgage to Buy Servicing Rights From NovaStar
Oct 16, 2007Troubled subprime lender NovaStar Financial, Inc. said late today that it will sell its entire servicing rights to Saxon Mortgage Services, Inc. in a bulk deal that pulls the rug out of NovaStar’s sizeable servicing operation. The deal will see NovaStar’s servicing rights sold for roughly $175 million in cash, and will lead to “substantial reductions in both its organization and workforce,” the Kansas City-based mortgage company said. Novastar employs 300 in its servicing operations.
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NovaStar Admits it Will Fail to Pay Dividend, Terminates REIT Status
Sep 17, 2007 -
Report: NovaStar Gets Pass From Wachovia
Aug 27, 2007 -
H&R Block Posts $86 Million Loss on Option One Drag
Jun 21, 2007 -
NovaStar to Slash 17 Percent of Workforce
Mar 16, 2007 -
Bull Market for Default Experts: Missouri & Kansas Law Firm Pulls from Fannie Mae
Mar 08, 2007 -
NovaStar Second Lender To Face Claims of Securities Fraud
Feb 26, 2007
