Industry News

NovaStar laying off 500, closing wholesale operations

Wholesale loans totaled 61% of 2Q loan originations
Published on Aug 20, 2007

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by CareyBot

NovaStar Financial Inc. said it is in the process of laying off 500 workers as it stops seeking new loans in the wholesale market and closes wholesale operations centers in California and Ohio. The layoffs, which amount to about 37 ...