Well, a quick search of Public records shows that from Jan 2005 Novastar wrote 533 mortgages in Pasco County, and have served 233 LIs Pendens since. 49% have gone south. How many more will fail?
Check out Florid stats too:
Pinellas County 713 mortgages, 353 Lis Pendens, 49.5% fail rate
Hillborough County 1256 Mtg's, 598 Lis Pendens, 47.6% Fail rate
Polk County, 900 mortgages,301 Lis Pendens, 33% fail rate
Sarasota County, 35.6% fail rate
Marion County, Since 2004, 325 mtg's, 127 failures, 42%
Keep in mind that more Lis Pendens are getting filed all the time. New York Bank of Mellon appears to have taken control of many of the bad notes and is starting foreclosure suits rampantly.
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Novastar has 162 Lis Pendens filed since 2005 in Seminole County with 599 mtg's filed, 27%
ReplyDeleteWorld Savings, another subprime lender only had 7% failures since 2003
ReplyDeleteClay County, 58 of 276 gone south, 21% bad for Novastar
ReplyDeleteNovastar in Manatee County 91 out of 570, 15.9%
ReplyDeleteNovastar since O4 though 88 out of 325 means 27%
ReplyDeleteNovastar ravages Palm Beach County! 1620 Mtg's since 2004, 805 Lis Pendens! 49.7% Tell me that Novastar was not colluding with title companies and mortgage brokers!
ReplyDeleteMartin County has 52 Lis Pendens compared to 118 Mtg's written since 2005, 44%
ReplyDeleteBroward had 1124 Lis Pendens, and 4400 mortgage related filings, so Novastar failed at leat 25% of the time, later I may seperate those stats.
ReplyDelete