Novastar Financial NFI US tanks...more on subprime

User Forum Topic
Submitted by heavyd on February 20, 2007 - 2:54pm

Novastar Financial, a REIT that originates and purchases subprime residential loans, just reported a 39c per share loss in Q4. Management cited deteriorating markets in Q4 and higher than expected loss provisions on loans held in their portfolio. Units trading at $12.60 after hours, about 28% lower than today's $17.56 close (news out after the close). HD

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