Novation Companies, Inc. (NASDAQOTH:NOVS.PK)

kapilville (68.67) Submitted: 6/22/2007 5:57:26 PM : Start Price: $37.52 NOVS.PK Score: -90.69

I'm long on this one in my real world portfolio...100 shares or so.Bought around $30 and have received a big chunk of that back in dividends so far.I should have bought more when it was under $5 recently. It's tripled in the past few weeks!!!...and it's got nowhere to go but up!Novastar was in the subprime game before there was a subprime game.They were my lender when I bought my first house at 10.375% at the age of 18.....worst possible deal I could have gotten, but I didn't know any better.Broker made out like a bandit, but Novastar always treated me like respect the whole 2 years I was a customer...the kind of respect and good customer service that is very hard to find today, in any business not just a lender.When I wanted to re-fi, they waived my prepay penalty...they didn't have to, since I didn't refi with them and they had me by the short and curlies as the prepay was in the contract for 3 years!As other Subprime lenders have fallen by the wayside, NFI has continued on strong....sure they have suffered because of the general market conditions, but the fundamental business is very strong!It closed at $10 today, they settled a class action lawsuit and the mortgage and real estate market has finally found it's bottom.If the stock jumps even a hair tomorrow, I'm in for 1000 more shares!