NovaStar Financial Plunges
NovaStar Financial (NFI) falls sharply after the mortgage lender posts $0.39 fourth quarter loss, vs. $0.84 EPS a year ago, on 19% lower net interest income. It says credit performance of its portfolio deteriorated, resulting in impairments and additional loss provisions. It says it is considering dropping its REIT status after 2007.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.