The National Community Reinvestment Coalition filed a lawsuit against NovaStar Financial Inc. on Wednesday, alleging that the company has discriminatory lending practices.
The civil rights lawsuit, filed in U.S. District Court for the District of Columbia, also names NovaStar Mortgage Inc., a subsidiary of Kansas City-based NovaStar Financial (NYSE: NFI), as a defendant. The plaintiffs claim NovaStar violated the Fair Housing Act of 1968.
"NovaStar intentionally structured its underwriting to exclude Native American tribal communities, persons with disabilities and row house neighborhoods where African Americans and Latinos reside," NCRC President John Taylor said in a release.
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