NovaStar Financial, Inc. · Kansas City, MO United States
Company Description
Phone: 816-237-7000
Fax: 816-237-7515
View NovaStar Financial, Inc. Locations On A US Map
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This link will open in a new window NovaStar Financial is forging a new life for itself -- one with as little to do with subprime mortgages as possible. The firm bought, originated, serviced, and securitized subprime mortgages until that sector experienced its own flameout. Like many other lenders, NovaStar was burned as interest rates rose and marginal borrowers increasingly defaulted on their payments. It sold its servicing rights to Morgan Stanley in 2007, stopped writing new loans, sold the bulk of its loan portfolio, and cut most of its workforce. NovaStar is searching for better opportunities in the residential market. In 2008 it acquired a 75% stake in property appraisal firm PipeFire, now StreetLinks National Appraisal Services. To read the full description, subscribe now.
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Key NovaStar Financial, Inc. Financials
| Company Type | Private Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $235.0 |
| Employees | 53 |
NovaStar Financial, Inc. Executives
16 executives listed for NovaStar Financial, Inc.'s Kansas City, MO location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO | W. Lance Anderson | Network |
| SVP and CFO | Rodney Schwatken | Network |
| CEO, StreetLinks | Steve Haslam | Network |
Competition
Competitive Landscape for NovaStar Financial, Inc.
Demand for credit reporting and for collections services are driven by the volume of financial transactions, and by the health of the economy. The profitability of individual companies depends largely on efficiency of operations. The profitability of collections companies that buy receivables portfolios depends on their ability to assess recovery potential. Large credit reporting companies have significant economies of scale in operations. Small companies can compete successfully in the collections segment, where customer service and personal contact are important. To read the full description, subscribe now.Top NovaStar Financial, Inc. Competitors
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