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.

Link copied

Published

Oct 29, 2006

Analysis and Data

Pending Home Sales Rise In October After September Dip

NAR says month-over-month contract activity rose in all four U.S. Regions

Pending home sales increased in October, rebounding after a decline in September, according to the National Association of Realtors. Contract activity rose month-over-month in each of the four major U.S. regions. On a year-over-year basis, however, transactions were split, ...

Analysis and Data

Home Prices Hit New All-Time High

The unseasonable surge in home prices appears to be drawing in more sellers.

Home prices recently hit an all-time high for the four-week period ending on November 21, 2021, reaching an average of $359,975. This marks a 14% increase year-over-year, which is the largest increase since early September, according to a new report by Redfin. In the past m...

Jan

Uncasville, CT

More from

Industry News

Biden Reappoints Powell As Federal Reserve Chairman

A signal that The Fed will continue its policies as inflation surges and economic uncertainty spikes due to an emerging variant of the coronavirus.

Industry News

Nov 29, 2021

Servion Taps Sagent For Consumer-First Servicing Tech Stack

A 7-year deal between Servion Mortgage and Sagent will equip Servion with Sagent's tech stack for performing, non-performing, and consumer experience.

Tech

Nov 29, 2021

Guaranteed Rate's Banosian Funds $2B In Total Loan Volume

The mortgage industry shouldn't be surprised by Guaranteed Rate's top loan officer, Shant Banosian, funding $2 billion in total loan volume during a record-breaking year. After all, “The Billion Dollar Man” is one of the top 5 loan originators in the U.S.

Wholesale

Nov 29, 2021

Chairman Xu Sells Off Personal Assets To Avoid Default

The Evergrande saga continues as Chairman Xu Jiayin sells off 7 billion yuan ($1.1 billion) of his personal assets to prop up the deflating property giant.

Industry News

Nov 23, 2021

OptiFunder Secures $25 Million In Capital

OptiFunder, a warehouse management system provider for mortgage originators, raised $25 million in additional capital lead by Arthur Ventures, a growth capital firm focused on high-growth, founder-led and capital efficient B2B software companies.

Tech

Nov 23, 2021

Mortgage Company Donates $100K To High School In Memory Of Fallen U.S. Navy Corpsman

Cleveland-based CrossCountry Mortgage donated $100,000 to Milan Edison High School in memory of U.S. Navy Corpsman, Maxton W. Soviak, who died while assisting in the evacuation of Americans and refugees in Afghanistan in August.

Community

Nov 23, 2021

Popular