Subprime Lending

NovaStar: Trouble If You Do, Trouble If You Don’t 

Saw today that the National Community Reinvestment Coalition is suing NovaStar, claiming the subprime lending giant engaged in redlining minorities. The lawsuit by the National Community Reinvestment Coalition, a Washington, D.C. nonprofit, accused Kansas City, Missouri-based NovaStar of policies often known as “redlining.” It said NovaStar denies all loans for applications to buy row houses in Baltimore. It said this results in discrimination against African-Americans and Hispanics.