Current news for this company:
NovaStar, Homeview Lending - Wholesale & Retail
Update - 2008-01-10: A short statement on the front page of their web site ends Retail Loan Production at NovaStar:
"At present, we are no longer originating new loans..."
Saxon Mortgage Services of Fort Worth, Texas has taken over the Servicing, the top Executives left on January 3rd, and Wachovia gave them until January 4th to come up with a plan or be forced into Bankruptcy.
Original Post - 2007-08-17: NovaStar has announced that they are closing their wholesale operations and laying off 37% of its workforce (roughly 500 employees). Per an article on the Houston Chronicle:
Per an email that was forwarded on to us sent by an ex-NovaStar employee:
Update, August 19th:
We've added Homeview Lending to the effected companies of this implosion, as it was apparently just backed by NovaStar, according to our sources. The web site simply directs one to call Marc Hanson, suggesting that an "implosion" has certainly occurred.
Interestingly, we received some information on Homeview from a (clearly angry) ex-employee back in March:
Original posting on Ailing from 2007-08-07
NovaStar has resumed wholesale.
NovaStar Mortgage Wholesale ceased funding on Friday per the following announcement:
Should any news develop regarding NovaStar, please let us know.
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Important: This company is on our list of lending operations that have "imploded". However, please note that "imploded" is a somewhat subjective and does not necessarily mean operations are ceased permanently: it can mean bankruptcy filing, temporary but open-ended halting of major operations, or "firesale" acquisition. All information here is provisional, and may contain inaccuracies (especially newer information). If you are planning on doing business with this company or any other one listed on this site, you should inquire with them directly on whether they can still meet your needs. Many are still operating in some capacity.