NovaStar Capital to buy out nBank warehouse customersMortgagePress.comWarehouse mortgage lending, NovaStar, nBank
NovaStar Capital Inc. has announced that it will acquire nBank
N.A.'s warehouse relationships with approximately 40 lenders, which
funded a total of approximately $1.8 billion in loans in the past
year. In addition, NovaStar Capital Inc. will hire some of the key
members of the bank's warehouse lending team.
"We are very pleased to offer nBank's customer base the
continuity of working with our team and our flexible, easy-to-use
warehouse lending programs," said Kenneth D. Logan, executive vice
president and chief operating officer of NovaStar Capital Inc.
"With our years of collective experience in the industry, we
understand what lenders need and have designed our processes to
help them close more loans."
NovaStar Capital Inc., a subsidiary of NovaStar Financial Inc.,
is a mortgage warehouse lender based in Roswell, Ga. For more
information, call (888) 499-5363 or visit www.novastarmortgage.com.
nBank N.A. is a nationally chartered bank based in Commerce, Ga.
For more information, call (800) 815-1816 or visit www.nbank.com.