-----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, OBNyufL820O+xg5Y1JDbbnfIq5WsVyOBU4aIDpchZaLpmkLIikhcGBS17yY5LNu0 40YZpYiakr+B4ZuDsL3dJw== 0001025953-06-000074.txt : 20060310 0001025953-06-000074.hdr.sgml : 20060310 20060310161031 ACCESSION NUMBER: 0001025953-06-000074 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060310 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060310 DATE AS OF CHANGE: 20060310 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: 06679504 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 MONTHLY PRODUCTION

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

 

March 10, 2006

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 March 10, 2006, NovaStar Financial, Inc. reported its Monthly Loan Origination Data and Selected Non-Conforming Loan Origination Data for the month of February 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: March 10, 2006

 

/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 February 28,

 

 

For the Two Months Ended February 28,

 

 

 

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

$ 402,430

 

77%

 

$ 480,438

 

74%

 

 

$ 832,684

 

76%

 

$ 926,810

 

75%

Correspondent/Bulk

42,819

 

8%

 

97,348

 

15%

 

 

105,564

 

10%

 

146,540

 

12%

Retail *

76,573

 

15%

 

71,907

 

11%

 

 

155,280

 

14%

 

166,000

 

13%

Total non-conforming production volume

$ 521,822

 

100%

 

$ 649,693

 

100%

 

 

$ 1,093,528

 

100%

 

$ 1,239,350

 

100%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

# of funding days in the month

19

 

 

 

19

 

 

 

 

39

 

 

 

39

 

 

Average originations per funding day

$ 27,464

 

 

 

$ 34,194

 

 

 

 

$ 28,039

 

 

 

$ 31,778

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail production volume *

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-conforming

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sold to non-affiliates

$ 18,733

 

15%

 

$ 110,131

 

44%

 

 

$ 33,528

 

14%

 

$ 213,736

 

39%

Retained by NMI

76,573

 

64%

 

71,907

 

28%

 

 

155,280

 

67%

 

166,000

 

30%

Total non-conforming

95,306

 

79%

 

182,038

 

72%

 

 

188,808

 

81%

 

379,736

 

69%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Conforming/Government

24,707

 

21%

 

71,448

 

28%

 

 

44,986

 

19%

 

167,156

 

31%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total retail production volume

$ 120,013

 

100%

 

$ 253,486

 

100%

 

 

$ 233,794

 

100%

 

$ 546,892

 

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 2/28/2006

 

For the Month Ended 1/28/2006

 

For the Month Ended 12/31/2005

 

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

7.66%

 

82.7%

 

699

 

30%

 

7.54%

 

81.3%

 

702

 

32%

 

7.59%

 

82.4%

 

701

 

35%

620 to 659

8.40%

 

82.0%

 

640

 

23%

 

8.30%

 

81.4%

 

640

 

25%

 

8.07%

 

81.5%

 

640

 

23%

580 to 619

8.90%

 

81.1%

 

599

 

23%

 

8.89%

 

81.7%

 

600

 

21%

 

8.60%

 

80.9%

 

599

 

21%

540 to 579

9.47%

 

80.4%

 

559

 

16%

 

9.30%

 

79.3%

 

560

 

15%

 

9.09%

 

78.8%

 

560

 

14%

539 and below

9.84%

 

76.8%

 

527

 

8%

 

9.66%

 

76.1%

 

527

 

7%

 

9.42%

 

76.1%

 

527

 

7%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8.57%

 

81.3%

 

627

 

100%

 

8.44%

 

80.7%

 

631

 

100%

 

8.24%

 

81.0%

 

634

 

100%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary by Program Type

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2-Year Fixed

8.95%

 

81.4%

 

607

 

58%

 

8.84%

 

81.1%

 

609

 

58%

 

8.60%

 

80.9%

 

611

 

54%

2-Year Fixed Interest-only

7.85%

 

80.7%

 

662

 

16%

 

7.83%

 

80.5%

 

662

 

17%

 

7.63%

 

80.5%

 

666

 

21%

3-Year Fixed

8.58%

 

80.3%

 

600

 

1%

 

8.49%

 

78.0%

 

624

 

1%

 

7.69%

 

75.9%

 

636

 

1%

3-Year Fixed Interest-only

7.48%

 

85.2%

 

708

 

0%

 

7.43%

 

72.5%

 

671

 

1%

 

7.15%

 

78.2%

 

668

 

0%

5-Year Fixed

7.98%

 

81.7%

 

657

 

1%

 

6.63%

 

71.4%

 

685

 

0%

 

6.43%

 

58.8%

 

664

 

0%

5-Year Fixed Interest-only

7.50%

 

71.9%

 

663

 

0%

 

7.04%

 

79.4%

 

661

 

0%

 

7.75%

 

72.5%

 

683

 

0%

15-Year Fixed

9.32%

 

80.5%

 

627

 

1%

 

9.24%

 

79.3%

 

666

 

1%

 

9.31%

 

83.8%

 

661

 

1%

30-Year Fixed

8.43%

 

75.9%

 

637

 

10%

 

8.02%

 

75.2%

 

646

 

11%

 

7.94%

 

76.0%

 

639

 

12%

30-Year Fixed Interest-only

8.31%

 

78.1%

 

705

 

0%

 

7.73%

 

80.3%

 

673

 

0%

 

7.69%

 

76.2%

 

647

 

0%

Other Products

9.67%

 

89.6%

 

651

 

10%

 

9.72%

 

89.7%

 

659

 

8%

 

9.62%

 

91.2%

 

666

 

9%

MTA

1.87%

 

75.2%

 

702

 

3%

 

1.83%

 

74.9%

 

714

 

3%

 

1.80%

 

74.0%

 

709

 

2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8.57%

 

81.3%

 

627

 

100%

 

8.44%

 

80.7%

 

631

 

100%

 

8.24%

 

81.0%

 

634

 

100%

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Coupon Excluding MTA

8.78%

 

 

 

 

 

 

 

8.62%

 

 

 

 

 

 

 

8.40%

 

 

 

 

 

 

 

 

 

 

 

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