-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HmgxTGm5mOsDxytO1rfJz800rcQiycNgid4/QalDOVolrawg/llpxP+0KBvvmPcn F/9Vr+/O4ITrCIIrB8+ZEQ== 0001025953-05-000039.txt : 20051212 0001025953-05-000039.hdr.sgml : 20051212 20051212160118 ACCESSION NUMBER: 0001025953-05-000039 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051212 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051212 DATE AS OF CHANGE: 20051212 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NOVASTAR FINANCIAL INC CENTRAL INDEX KEY: 0001025953 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 742830661 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13533 FILM NUMBER: 051258281 BUSINESS ADDRESS: STREET 1: 8140 WARD PARKWAY STREET 2: STE 300 CITY: KANSAS CITY STATE: MO ZIP: 64114 BUSINESS PHONE: 8162377000 MAIL ADDRESS: STREET 1: 8140 WARD PARKWAY STREET 2: STE 300 CITY: KANSAS CITY STATE: MO ZIP: 64114 8-K 1 form8k.htm FORM 8-K

UNITED STATES

 

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

December 12, 2005

Date of Report (Date of earliest event reported)

 

NOVASTAR FINANCIAL, INC.

(Exact name of registrant as specified in its charter)

 

Maryland

 

001-13533

 

74-2830661

(State or other jurisdiction of incorporation or organization)

 

(Commission File Number)

 

(I.R.S. Employer Identification No.)

 

8140 Ward Parkway, Suite 300, Kansas City, MO 64114

(Address of principal executive offices)

(Zip Code)

 

(816) 237-7000

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 


 

 

INFORMATION TO BE INCLUDED IN THE REPORT

 

Item 7.01 – Regulation FD Disclosure

 

On December 12, 2005, NovaStar Financial, Inc. reported its Monthly Loan Origination Data and Selected Non-Conforming Loan Origination Data for the month of November on its website (www.novastarmortgage.com). The presentation of this data is included as Exhibit 99 and is incorporated herein by reference.

 

References to the registrant’s website do not incorporate by reference the information on the registrant’s website into this Current Report and the registrant disclaims any such incorporation by reference.

 

Item 9.01 – Financial Statements and Exhibits

 

(c)

Exhibits

 

99

Monthly Loan Origination Data and Selected Non-Conforming Loan Origination Data.

 

 


 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

NOVASTAR FINANCIAL, INC.

 

DATE: December 12, 2005

 

/s/ Gregory S. Metz

 

 

Gregory S. Metz

 

 

Chief Financial Officer

 

 

 


 

 

Exhibit Index

 

Exhibit

Number

 

99

Monthly Loan Origination Data and Selected Non-Conforming Loan Origination Data.

 

 

 

 

 

 

 

 EX-99 2 exhibit99.htm EXHIBIT 99

Exhibit 99

NOVASTAR FINANCIAL, INC.

MONTHLY LOAN ORIGINATION DATA

(dollars in thousands)

(unaudited)

 

 

For the Month Ended November 30,

 

 

For the Eleven Months Ended November 30,

 

 

 

As a %

 

 

 

As a %

 

 

 

 

As a %

 

 

 

As a %

 

2005

 

of Total

 

2004

 

of Total

 

 

2005

 

of Total

 

2004

 

of Total

Non-conforming production volume

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-conforming

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wholesale

$ 525,815

 

74%

 

$ 474,932

 

68%

 

 

$ 6,405,796

 

75%

 

$ 4,984,206

 

65%

Correspondent/Bulk

70,860

 

10%

 

80,781

 

12%

 

 

717,382

 

8%

 

772,716

 

10%

Retail *

117,358

 

16%

 

137,323

 

20%

 

 

1,419,838

 

17%

 

1,938,725

 

25%

Total non-conforming production volume

$ 714,033

 

100%

 

$ 693,036

 

100%

 

 

$ 8,543,016

 

100%

 

$ 7,695,647

 

100%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

# of funding days in the month

19

 

 

 

19

 

 

 

 

229

 

 

 

228

 

 

Average originations per funding day

$ 37,581

 

 

 

$ 36,476

 

 

 

 

$ 37,306

 

 

 

$ 33,753

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail production volume *

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-conforming

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sold to non-affiliates

$ 75,527

 

34%

 

$ 153,467

 

32%

 

 

$ 687,566

 

25%

 

$ 1,885,721

 

29%

Retained by NMI

117,358

 

52%

 

137,323

 

28%

 

 

1,419,838

 

51%

 

1,938,725

 

30%

Total non-conforming

192,885

 

86%

 

290,790

 

60%

 

 

2,107,404

 

76%

 

3,824,446

 

59%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Conforming/Government

32,131

 

14%

 

196,867

 

40%

 

 

653,479

 

24%

 

2,686,246

 

41%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total retail production volume

$ 225,016

 

100%

 

$ 487,657

 

100%

 

 

$ 2,760,883

 

100%

 

$ 6,510,692

 

100%

*Branch production volumes are considered a part of our retail operations and are included within the retail production volumes shown above.

 

 

 

 

NOVASTAR FINANCIAL, INC.

SELECTED NON-CONFORMING LOAN ORIGINATION DATA

(dollars in thousands)

(unaudited)

 

 

 

For the Month Ended 11/30/2005

 

For the Month Ended 10/31/2005

 

For the Month Ended 9/30/2005

 

Weighted

 

Weighted

 

Weighted

 

 

 

Weighted

 

Weighted

 

Weighted

 

 

 

Weighted

 

Weighted

 

Weighted

 

 

 

Average

 

Average

 

Average

 

Percent

 

Average

 

Average

 

Average

 

Percent

 

Average

 

Average

 

Average

 

Percent

 

Coupon

 

LTV

 

FICO

 

of Total

 

Coupon

 

LTV

 

FICO

 

of Total

 

Coupon

 

LTV

 

FICO

 

of Total

Summary by Credit Grade

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

660 and above

7.27%

 

82.5%

 

705

 

35%

 

7.02%

 

82.1%

 

700

 

36%

 

7.14%

 

82.7%

 

699

 

33%

620 to 659

7.72%

 

81.2%

 

638

 

26%

 

7.49%

 

81.0%

 

640

 

23%

 

7.40%

 

81.7%

 

639

 

24%

580 to 619

8.23%

 

81.0%

 

600

 

19%

 

7.91%

 

80.9%

 

598

 

20%

 

7.82%

 

81.8%

 

600

 

22%

540 to 579

8.74%

 

80.4%

 

560

 

13%

 

8.56%

 

79.0%

 

559

 

14%

 

8.41%

 

79.8%

 

559

 

14%

539 and below

9.34%

 

75.4%

 

526

 

7%

 

8.97%

 

76.3%

 

528

 

7%

 

8.91%

 

75.6%

 

528

 

7%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7.90%

 

81.1%

 

636

 

100%

 

7.67%

 

80.7%

 

633

 

100%

 

7.65%

 

81.4%

 

632

 

100%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary by Program Type

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2-Year Fixed

8.25%

 

81.1%

 

613

 

53%

 

8.03%

 

81.0%

 

608

 

52%

 

7.91%

 

82.0%

 

612

 

53%

2-Year Fixed Interest-only

7.22%

 

81.4%

 

669

 

24%

 

6.97%

 

80.6%

 

666

 

23%

 

7.00%

 

81.4%

 

662

 

24%

3-Year Fixed

7.51%

 

75.3%

 

630

 

1%

 

7.36%

 

76.6%

 

634

 

1%

 

7.55%

 

78.9%

 

619

 

2%

3-Year Fixed Interest-only

6.97%

 

80.7%

 

675

 

1%

 

7.04%

 

78.2%

 

659

 

1%

 

6.91%

 

82.0%

 

686

 

1%

5-Year Fixed

7.34%

 

77.7%

 

646

 

0%

 

7.19%

 

72.7%

 

664

 

0%

 

7.36%

 

78.1%

 

663

 

0%

5-Year Fixed Interest-only

7.22%

 

79.0%

 

653

 

0%

 

6.88%

 

79.5%

 

667

 

1%

 

6.61%

 

75.3%

 

668

 

0%

15-Year Fixed

8.81%

 

79.6%

 

643

 

1%

 

8.86%

 

81.7%

 

645

 

1%

 

7.79%

 

72.0%

 

643

 

1%

30-Year Fixed

7.73%

 

75.9%

 

641

 

10%

 

7.50%

 

75.4%

 

639

 

12%

 

7.29%

 

75.2%

 

640

 

12%

30-Year Fixed Interest-only

7.13%

 

71.6%

 

666

 

1%

 

6.87%

 

73.3%

 

691

 

1%

 

6.89%

 

73.3%

 

651

 

1%

Other Products

9.52%

 

91.3%

 

664

 

7%

 

9.88%

 

94.5%

 

668

 

6%

 

9.80%

 

94.7%

 

665

 

5%

MTA

1.88%

 

75.6%

 

724

 

2%

 

1.84%

 

75.7%

 

704

 

2%

 

1.73%

 

76.1%

 

702

 

1%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7.90%

 

81.1%

 

636

 

100%

 

7.67%

 

80.7%

 

633

 

100%

 

7.65%

 

81.4%

 

632

 

100%

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Coupon Excluding MTA

8.01%

 

 

 

 

 

 

 

7.79%

 

 

 

 

 

 

 

7.69%

 

 

 

 

 

 

 

 

 

 

 

 -----END PRIVACY-ENHANCED MESSAGE-----