Industry News

Lawsuit against NovaStar Mortgage reaches class-action status

Borrowers allege yield spread premiums weren't disclosed
Published on Nov 1, 2006

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by CareyBot

A lawsuit claming NovaStar Mortgage paid mortgage brokers extra fees to arrange loans with higher interest rates has been granted class-action status by a U.S. District Court judge in Tacoma, Wash. The lawsuit alleges that the yield spread premium on ...