Novation Companies, Inc. (formerly Novastar Financial, Inc.) owns and operates early-stage businesses in the technology-enabled services industry. It trades under the symbol NOVC. Novation Companies, Inc., (NOVC) was founded as NovaStar Financial, Inc., a Kansas City-based residential mortgage company, in 1996. Through its subsidiaries, NovaStar Mortgage, Inc., and NovaStar Home Mortgage, Inc., it originated, securitized and serviced residential loans. During a 10-year period, NovaStar Mortgage originated more than $40 billion in mortgage loans and NovaStar Home had more than 400 branches located nationwide. The fast and significant success took the company to nearly 5,000 employees at one point. The company went public a mere 10 months after opening its doors.