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Strategies & Market Trends : Turnarund Investing

NOVS 0.0666

-16.0%

Aug 1 5:00 PM EST

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From: bankbuyer	4/24/2012 11:33:46 PM
	1 Recommendation of 1876

Please provide documentation that NOVS loss rate were better than industry average Please provide source where any industry analyst or agency considered Novs as "best of breed ? No underwriting or balance is designed to produce loss rates of the magnitude that Novs Loan incurred. Novs wrote loans to production quotas. They were out of control. Novs did NOT survive. They imploded like all the subprime lenders with terrible underwriting. They DID renege on declared dividends and retained the cash so the Ceo could have a job by buying some tiny subsidiaries.

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