NovaStar Financial, Inc.. The Group's principal activities are to originate, purchase, securitize, sell, invest in and service residential nonconforming mortgage loans and mortgage backed securities. It retained, through its mortgage securities investment portfolio, significant interests in the nonconforming loans it originated, purchased and through ... More

NovaStar Financial, Inc.. The Group's principal activities are to originate, purchase, securitize, sell, invest in and service residential nonconforming mortgage loans and mortgage backed securities. It retained, through its mortgage securities investment portfolio, significant interests in the nonconforming loans it originated, purchased and through its servicing platform, serviced all of the loans in which it retained interests. During 2008, the Group purchased a majority interest in StreetLinks National Appraisal Services LLC, a residential appraisal management company. A fee for appraisal services is collected from lenders and borrowers and passes through most of the fee to an independent residential appraiser. It operates in the United States.