American Home Mortgage’s Correspondent Lending Division off to fast start: A one-year review

NovaStar Mortgage to purchase retail assets of Oak Street MortgageMortgagePress.comRetail loan origination NovaStar Mortgage Inc. has agreed to acquire up to 21 retail mortgage-lending locations and certain other assets from Oak Street Mortgage LLC. The purchase price of the Oak Street Mortgage assets in question will be at a slight premium over book value, and there will be an additional opportunity for Oak Street Mortgage to earn payments over the next two years, contingent upon the performance of the retail division during that period. The transaction is expected to close late in the fourth quarter of 2006. Kansas City, Mo.-based NovaStar Mortgage Inc. is the loan origination unit of real estate investment trust NovaStar Financial Inc. For more information, call (888) 499-5363 or visit www.novastarmortgage.com. Oak Street Mortgage LLC, a subsidiary of Oak Street Financial Services, is a retail mortgage originator, based in Carmel, Ind. For more information, call (800) 562-6669 or visit www.oakstreetmortgage.com.