Skip to main content

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

National Mortgage Professional
Oct 29, 2006

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.
Published
Oct 29, 2006
UWM Adds 'Control Your Price' To 'Game On' Pricing

New program provides 125 basis points in price enhancements for loan orignators.

Industry News
Jan 11, 2023
Rocket Pro TPO Relieves Brokers Of Credit Fee Burden

Will provided free credit reports to brokers if they get their loan closed with the Detroit lender.

Industry News
Jan 10, 2023
Former Employees Sue Rocket Mortgage Over OT Pay

Claim company failed to properly calculate & pay OT for working beyond 40 hours a week.

Operations
Jan 09, 2023
Judge Grants UWM Partial Win In Ultimatum Lawsuit

AML’s declaration that the ultimatum violated antitrust law survived.

Industry News
Jan 04, 2023
A&D Mortgage Launches Temporary Rate Buydowns

Offering 3-2-1 and 2-1 buydown options.

Industry News
Jan 04, 2023
Zillow: 2M Homes No Longer Require A Jumbo Loan

This is the result of FHA's update to the baseline conforming loan limit in high-cost areas topping $1 million.

Industry News
Jan 04, 2023