NFI Novastar Finl

NovaStar Mortgage, Inc., a nationwide residential lender that is the primary loan origination unit of NovaStar Financial, Inc. (NYSE: NFI), has taken its commitment to service to a new level by organizing two Career Fairs in Michigan to help NovaStar borrowers and unemployed or underemployed residents connect with jobs. More than 1,000 Michigan residents took part in the NovaStar Michigan Career Fairs, held Wednesday, Oct. 25, in Grand Rapids and Thursday, Oct. 26, in the Detroit area. More than 45 employers and social agencies joined in the events. Individuals who attended could apply for jobs, be interviewed by participating employers, and receive counsel on the job search process and its financial, emotional and personal aspects. Nearly one-fourth of those attending were customers that NovaStar had personally invited; others were from the broader communities. �We�re thinking outside the box, as a mortgage company, doing something directly to help people in Michigan who face job setbacks as a result of a challenging economic environment,� said Chris Miller, Senior Vice President of NovaStar Mortgage. �As mortgage professionals know, loss of a job is a leading cause of problems for borrowers. What could be a better service than bringing job seekers together with employers to make new career connections?� The idea of hosting Career Fairs in Michigan arose from NovaStar�s two-year experience with LaunchPoint, an innovative servicing program that offers guidance to NovaStar customers who lose a job or become underemployed. The LaunchPoint unit of NovaStar�s servicing group has helped hundreds of borrowers nationwide restart their careers and find jobs � as well as assisting those homeowners in working through difficulties and staying on track financially. �NovaStar has ongoing relationships with more than 5,000 homeowners in Michigan, and we offered these Career Fairs out of a desire to serve customers, as well as the broader communities where we do business. We are considering expansion of the Career Fair concept to other parts of the country where an employment slowdown is affecting mortgage customers,� Miller said. About NovaStar Mortgage, Inc. NovaStar Mortgage, Inc. is one of the nation�s leading lenders and investors in nonconforming residential loans. A unit of NovaStar Financial, Inc. (NYSE: NFI), NovaStar Mortgage specializes in single-family mortgages involving borrowers whose loan size, credit details or other circumstances fall outside conventional agency guidelines. Founded in 1996, NovaStar Mortgage is headquartered in Kansas City, Missouri, and enjoys a national presence with more than 350 sales people and retail and wholesale operations centers across the United States. NovaStar Mortgage, Inc., a nationwide residential lender that is the primary loan origination unit of NovaStar Financial, Inc. (NYSE: NFI), has taken its commitment to service to a new level by organizing two Career Fairs in Michigan to help NovaStar borrowers and unemployed or underemployed residents connect with jobs. More than 1,000 Michigan residents took part in the NovaStar Michigan Career Fairs, held Wednesday, Oct. 25, in Grand Rapids and Thursday, Oct. 26, in the Detroit area. More than 45 employers and social agencies joined in the events. Individuals who attended could apply for jobs, be interviewed by participating employers, and receive counsel on the job search process and its financial, emotional and personal aspects. Nearly one-fourth of those attending were customers that NovaStar had personally invited; others were from the broader communities. "We're thinking outside the box, as a mortgage company, doing something directly to help people in Michigan who face job setbacks as a result of a challenging economic environment," said Chris Miller, Senior Vice President of NovaStar Mortgage. "As mortgage professionals know, loss of a job is a leading cause of problems for borrowers. What could be a better service than bringing job seekers together with employers to make new career connections?" The idea of hosting Career Fairs in Michigan arose from NovaStar's two-year experience with LaunchPoint, an innovative servicing program that offers guidance to NovaStar customers who lose a job or become underemployed. The LaunchPoint unit of NovaStar's servicing group has helped hundreds of borrowers nationwide restart their careers and find jobs - as well as assisting those homeowners in working through difficulties and staying on track financially. "NovaStar has ongoing relationships with more than 5,000 homeowners in Michigan, and we offered these Career Fairs out of a desire to serve customers, as well as the broader communities where we do business. We are considering expansion of the Career Fair concept to other parts of the country where an employment slowdown is affecting mortgage customers," Miller said. About NovaStar Mortgage, Inc. NovaStar Mortgage, Inc. is one of the nation's leading lenders and investors in nonconforming residential loans. A unit of NovaStar Financial, Inc. (NYSE: NFI), NovaStar Mortgage specializes in single-family mortgages involving borrowers whose loan size, credit details or other circumstances fall outside conventional agency guidelines. Founded in 1996, NovaStar Mortgage is headquartered in Kansas City, Missouri, and enjoys a national presence with more than 350 sales people and retail and wholesale operations centers across the United States.