-----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, Qy+UXnCnvNXo1/DNQMriBSyLAB8UNSZ7enRolS3ZlWB0Yr2s43N93AHm6NibNn9m mLOXIK13U3tDP/B2Oc7aVQ== 0001025953-06-000196.txt : 20061212 0001025953-06-000196.hdr.sgml : 20061212 20061212172145 ACCESSION NUMBER: 0001025953-06-000196 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20061212 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20061212 DATE AS OF CHANGE: 20061212 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: 061272376 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, 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 December 12, 2006, 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, 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 ex99.htm EXHIBIT 99

Exhibit 99

NOVASTAR FINANCIAL, INC.

MONTHLY LOAN ORIGINATION DATA

(dollars in thousands) (unaudited)

 

 

 

For the Month Ended November 30,

 

 

 

2006

 

As a % of Total

 

2005

 

As a % of Total

 

Non-conforming Production Volume

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wholesale (A)

 

$

749,140

 

86

%

$

547,876

 

77

%

Correspondent Bulk

 

 

63,093

 

7

 

 

48,799

 

7

 

Retail (C)

 

 

62,176

 

7

 

 

117,358

 

16

 

Total

 

$

874,409

 

100

%

$

714,033

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

Funding Days in the Month

 

 

19

 

 

 

 

19

 

 

 

Average Originations Per Funding Day

 

$

46,022

 

 

 

$

37,581

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Eleven Months Ended November 30,

 

 

 

2006 (B)

 

As a % of Total

 

2005

 

As a % of Total

 

Non-conforming Production Volume

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wholesale (A)

 

$

8,009,084

 

86

%

$

6,593,017

 

77

%

Correspondent Bulk

 

 

448,917

 

5

 

 

530,161

 

6

 

Retail (C)

 

 

856,819

 

9

 

 

1,419,838

 

17

 

Total

 

$

9,314,820

 

100

%

$

8,543,016

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

Funding Days in the Month

 

 

229

 

 

 

 

229

 

 

 

Average Originations Per Funding Day

 

$

40,676

 

 

 

$

37,306

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(A)

Starting in April of 2006 correspondent loans purchased on a flow basis are being included in the wholesale channel. Prior periods have been reclassified to reflect this change.

 

(B)

Does not include approximately $987 million in bulk purchased MTA loans during the period.

 

(C)

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

(unaudited)

 

 

 

 

For the Month Ended November 30, 2006

 

 

 

Weighted

 

 

Weighted

 

 

Weighted

 

 

 

 

 

 

Average

 

 

Average

 

 

Average

 

 

Percent

 

 

 

Coupon

 

 

LTV

 

 

FICO

 

 

of Total

 

Summary by Credit Grade

 

 

 

 

 

 

 

 

 

 

 

 

660 and above

 

7.83

%

 

83.9

%

 

700

 

 

29

%

620 to 659

 

8.63

 

 

83.9

 

 

640

 

 

24

 

580 to 619

 

8.85

 

 

83.9

 

 

600

 

 

23

 

540 to 579

 

9.22

 

 

79.9

 

 

559

 

 

16

 

539 and below

 

9.67

 

 

77.2

 

 

527

 

 

8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8.63

%

 

82.7

%

 

626

 

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary by Program Type

 

 

 

 

 

 

 

 

 

 

 

 

2-Year Fixed

 

9.15

%

 

83.9

%

 

612

 

 

40

%

2-Year Fixed 40/30

 

8.56

 

 

83.6

 

 

628

 

 

20

 

30-Year Fixed

 

8.52

 

 

78.1

 

 

612

 

 

16

 

2-Year Fixed Interest-only

 

8.12

 

 

82.9

 

 

656

 

 

10

 

30/15-Year Fixed

 

11.36

 

 

96.9

 

 

670

 

 

4

 

30-Year MTA

 

1.94

 

 

78.4

 

 

700

 

 

3

 

40/30-Year Fixed

 

8.36

 

 

78.6

 

 

626

 

 

3

 

Other Products

 

8.31

 

 

76.0

 

 

624

 

 

4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8.63

%

 

82.7

%

 

626

 

 

100

%

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

 

Coupon Excluding MTA

 

8.85

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note: The origination data on this report includes loans secured by second mortgages.

 

 

 

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