InjuryBoard Wichita Archives

  • NovaStar to Settle Class Action Lawsuit

    Chrissie Cole | June 03, 2007 12:06 AM | 0 Comments
    Category: Miscellaneous

    NovaStar Mortgage has agreed to settle a class action lawsuit for $5.1 million. The suit alleges the lender hid fees it paid to brokers for referring Washington homeowners to higher rate loans.The settlement, reached Thursday, affects over 1,600 borrowers within the state.Plaintiffs sued NovaStar, of Kansas City, Mo., last fall, claiming the lender did not disclose the "yield spread premium" fee...

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