NOVS Novastar Financial Inc. featured news, full reports, and detailed charts
Novastar Financial Inc. (NOVS/NOVS.PK) Wrap Up:
NovaStar Financial, Inc., together with its subsidiaries, operates as a non-conforming residential mortgage portfolio manager. It invests in a portfolio of mortgage securities, which includes interest-only, prepayment penalty, and overcollateralization securities retained from its securitizations of nonconforming, single-family residential mortgage loans; and subordinated mortgage securities retained from its securitizations and subordinated home equity loan asset-backed securities. The company was founded in 1996 and is based in Kansas City, Missouri.www.novastarfinancial.com
60 Employees
Founded in 1996
Novastar Financial Inc. (NOVS:OTC)
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Market Cap
8.5M
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Total Revenue
306.2M
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EBITDA
--
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DILUTED EPS TTM
-39.30
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P/E
--
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P/S
NM
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Return On Asset
-17.31
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Return On Equity
40.69
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| K = Thousands M = Millions B = Billions | ||
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NOVS Top Compensated Officers
Mr. W. Lance Anderson
Co-Founder, Chairman of the Board, Chief Exec...
Age: 48
Total Annual Compensation: $665.8K
Mr. Rodney E. Schwatken
Chief Financial Officer, Principal Accounting...
Age: 45
Total Annual Compensation: $265.0K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Novastar Financial Inc. (NOVS)
Novastar Financial Inc. Reports Earnings Results for the First Quarter Ended March 31, 2009
07/13/2009
Novastar Financial Inc. reported earnings results for the first quarter ended March 31, 2009. For the quarter, the company reported net loss of $91.69 million, down from $282.67 million, for the same quarter in 2008.
Novastar Financial Inc. Enters into Release and Settlement Agreement with EHMD, LLC, EHD Holdings, LLC and EHD Properties, LLC ; Elects Board of Directors
07/1/2009
On June 30, 2009, Novastar Financial Inc. entered into a release and settlement agreement with EHMD, LLC, EHD Holdings, LLC and EHD Properties, LLC (collectively, 'EHD') to settle the lease dispute on the company’s former principal office space. Under the terms of the agreement, the company agreed to pay to EHD the sum of $5 million in satisfaction and payment of past due rent and other charges and expenses due under the lease. The agreement further provides for the mutual release by the parties of all claims arising under the lease and the dismissal, with prejudice, of the lawsuits filed by the parties consolidated as Case No. 0816-CV2258 in the Circuit Court of Jackson County, Missouri. The agreement does not constitute an admission of liability by the company or EHD for any claims made in the Consolidated Lawsuit. At the company’s annual meeting of shareholders on June 25, 2009, the holders of the company’s 8.90% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share elected Howard Amster and Barry Igdaloff as directors of the company to serve until such time that all dividends accumulated and due on the Series C Preferred Stock have been paid fully paid.
Novastar Financial Inc. Auditor Raises 'Going Concern' Doubt
05/27/2009
Novastar Financial Inc. filed its 10-K on May 27, 2009 for the period ending December 31, 2008. In this report its auditor, Deloitte & Touche LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
NOVS Competitors
| Company | Last | Change |
| Centerline Holding Co | $0.17 USD | +0.01 |
| Impac Mortgage Holdings Inc | $3.01 USD | -0.04 |
| Municipal Mortgage & Equity LLC | $0.42 USD | 0.00 |
| Northstar Realty Finance Corp | $3.45 USD | +0.04 |
| Redwood Trust Inc | $14.26 USD | +0.44 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | NOVS | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | NM | Not Meaningful |
| Price/Book | NM | Not Meaningful |
| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | 8.3x |
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NOVS |
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NOVS transactions
| Type Date |
Target | |
| No transactions in the last 6 months. | ||
More Recent News About Novastar Financial Inc.
More news for NOVS
NOVASTAR FINANCIAL INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations The following discussion should be read in conjunction with the preceding unaudited condensed consolidated financial statements of NovaStar Financial, Inc. and its subsidiaries (the "Company" ,"NovaStar Financial", "NFI" , "we" or "us") and the notes thereto as well as NovaStar Financial's annual report to shareholders and Annual Report on Form 10-K for the fiscal year ended December 31, 2008. Executive Overview Corporate Overview, Background and Strategy - We are a Maryland corporation formed on September 13, 1996. Prior to significant changes in our business during 2007 and the first quarter of 2008, we originated, purchased, securitized, sold, invested in and serviced residential nonconforming mortgage loans and mortgage securities. We retained, through our mortgage securities investment portfolio, significant interests in the nonconforming loans we originated and purchased, and through our servicing platform, serviced all of the loans in which we retained interests. During 2007 and early 2008, we discontinued our mortgage lending operations and sold our mortgage servicing rights which subsequently resulted in the closing of our servicing operations. Because of severe declines in housing prices and national and international economic crises, we have suffered significant losses during 2008 and 2009 because of declining values of our investments in mortgage loans and securities. Liquidity constraints forced us to reduce operations and administrative staff and take other measures to conserve cash. Management's focus is building its newly acquired operating businesses, reducing corporate operating cash needs, clearing follow-on matters arising from our legacy lending and servicing operations and evaluating investment opportunities. Management made significant steps in the rebuilding process by investing in Stre...Click here to read the whole Article (external link)
NOVASTAR FINANCIAL INC Financials
Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...Click here to read the whole Article (external link)
NOVASTAR FINANCIAL INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations The following discussion should be read in conjunction with the preceding unaudited condensed consolidated financial statements of NovaStar Financial, Inc. and its subsidiaries (the "Company" ,"NovaStar Financial", "NFI" , "we" or "us") and the notes thereto as well as NovaStar Financial's annual report to shareholders and annual report on Form 10-K for the fiscal year ended December 31, 2008. Executive Overview Corporate Overview, Background and Strategy - We are a Maryland corporation formed on September 13, 1996. Prior to significant changes in our business during 2007 and the first quarter of 2008, we originated, purchased, securitized, sold, invested in and serviced residential nonconforming mortgage loans and mortgage securities. We retained, through our mortgage securities investment portfolio, significant interests in the nonconforming loans we originated and purchased, and through our servicing platform, serviced all of the loans in which we retained interests. During 2007 and early 2008, we discontinued our mortgage lending operations and sold our mortgage servicing rights which subsequently resulted in the closing of our servicing operations. Because of severe declines in housing prices and national and international economic crises, we have suffered significant losses during 2008 and 2009 because of declining values of our investments in mortgage loans and securities. Liquidity constraints forced us to reduce operations and administrative staff and take other measures to conserve cash. Management's focus is building its newly acquired operating businesses, reducing corporate operating cash needs, clearing follow-on matters arising from our legacy lending and servicing operations and evaluating investment opportunities. Management made significant steps in the rebuilding process by investing in Stre...Click here to read the whole Article (external link)
NOVASTAR FINANCIAL INC Files SEC form 8-K, Other Events
Show all filings for NOVASTAR FINANCIAL INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for NOVASTAR FINANCIAL INC 10-Jul-2009Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for tr...Click here to read the whole Article (external link)
NOVASTAR FINANCIAL INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations The following discussion should be read in conjunction with the preceding unaudited condensed consolidated financial statements of NovaStar Financial, Inc. and its subsidiaries (the "Company", "NovaStar Financial", "NFI", "we" or "us") and the notes thereto as well as NovaStar Financial's Annual Report to Shareholders and Annual Report on Form 10-K, as amended, for the fiscal year ended December 31, 2008. Executive Overview Corporate Overview, Background and Strategy - We are a Maryland corporation formed on September 13, 1996. Prior to significant changes in our business during 2007 and the first quarter of 2008, we originated, purchased, securitized, sold, invested in and serviced residential nonconforming mortgage loans and mortgage securities. We retained, through our mortgage securities investment portfolio, significant interests in the nonconforming loans we originated and purchased, and through our servicing platform, serviced all of the loans in which we retained interests. During 2007, we discontinued our mortgage lending operations and sold our mortgage servicing rights which subsequently resulted in the closing of our servicing operations. Because of severe declines in housing prices and national and international economic crises, we have suffered significant losses since 2007 because of declining values of our investments in mortgage loans and securities. Liquidity constraints forced us to reduce operations and administrative staff and take other measures to conserve cash. Management's focus is building its newly acquired operating businesses, reducing corporate operating cash needs, clearing follow-on matters arising from our legacy lending and servicing operations and evaluating investment opportunities. Management made significant steps in the rebuilding process by investing in StreetLinks Natio...Click here to read the whole Article (external link)
NOVASTAR FINANCIAL INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Other Events, Financial Statem
Show all filings for NOVASTAR FINANCIAL INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for NOVASTAR FINANCIAL INC 1-Jul-2009Entry into a Material Definitive Agreement, Other Events, Financial Statem Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All informat...Click here to read the whole Article (external link)
NOVASTAR FINANCIAL INC Files SEC form 8-K, Regulation FD Disclosure
Show all filings for NOVASTAR FINANCIAL INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for NOVASTAR FINANCIAL INC 26-Jun-2009Regulation FD Disclosure Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not int...Click here to read the whole Article (external link)
NOVASTAR FINANCIAL INC Files SEC form 10-K/A, Annual Report
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations The following discussion should be read in conjunction with our consolidated financial statements and the notes thereto included elsewhere in this report. Executive Overview Corporate Overview, Background and Strategy - We are a Maryland corporation formed on September 13, 1996. Prior to significant changes in our business during 2007 and the first quarter of 2008, we originated, purchased, securitized, sold, invested in and serviced residential nonconforming mortgage loans and mortgage backed securities. We retained, through our mortgage securities investment portfolio, significant interests in the nonconforming loans we originated and purchased, and through our servicing platform, serviced all of the loans in which we retained interests. During 2007 and early 2008, we discontinued our mortgage lending operations and sold our mortgage servicing rights which subsequently resulted in the closing of our servicing operations. Because of severe declines in housing prices and national and internal economic crises, we have suffered significant losses during 2007 and 2008 because of declining values of our investments in mortgage loans and securities. Liquidity constraints during 2007 forced us to pair operations and administrative staff and take measures to conserve cash. During 2008, management focused on reducing operating cash uses, clearing follow-on matters arising from our legacy lending and servicing operations and evaluating investment opportunities. Management made a significant step in the rebuilding process by investing in StreetLinks National Appraisal Services LLC ("StreetLinks"). StreetLinks is a national 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. StreetLinks retains a portion of the fee to cover its costs of...Click here to read the whole Article (external link)
NOVASTAR FINANCIAL INC Files SEC form 10-K, Annual Report
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations The following discussion should be read in conjunction with our consolidated financial statements and the notes thereto included elsewhere in this report. Executive Overview Corporate Overview, Background and Strategy - We are a Maryland corporation formed on September 13, 1996. Prior to significant changes in our business during 2007 and the first quarter of 2008, we originated, purchased, securitized, sold, invested in and serviced residential nonconforming mortgage loans and mortgage backed securities. We retained, through our mortgage securities investment portfolio, significant interests in the nonconforming loans we originated and purchased, and through our servicing platform, serviced all of the loans in which we retained interests. During 2007 and early 2008, we discontinued our mortgage lending operations and sold our mortgage servicing rights which subsequently resulted in the closing of our servicing operations. Because of severe declines in housing prices and national and internal economic crises, we have suffered significant losses during 2007 and 2008 because of declining values of our investments in mortgage loans and securities. Liquidity constraints during 2007 forced us to pair operations and administrative staff and take measures to conserve cash. During 2008, management focused on reducing operating cash uses, clearing follow-on matters arising from our legacy lending and servicing operations and evaluating investment opportunities. Management made a significant step in the rebuilding process by investing in StreetLinks National Appraisal Services LLC ("StreetLinks"). StreetLinks is a national 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. StreetLinks retains a portion of the fee to cover its costs of...Click here to read the whole Article (external link)
NOVASTAR FINANCIAL INC Files SEC form 8-K, Other Events
Show all filings for NOVASTAR FINANCIAL INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for NOVASTAR FINANCIAL INC 21-May-2009Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for tr...Click here to read the whole Article (external link)
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