-----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, JB9Snr2EJU7MwlbESSORAOpamtoI7zkjuWmfa4V2p5wFIyDyF6Xe++cHjWB6Gkhe fifnisIvSBELturbP03cUQ== 0001025953-07-000090.txt : 20070612 0001025953-07-000090.hdr.sgml : 20070612 20070612163719 ACCESSION NUMBER: 0001025953-07-000090 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070612 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070612 DATE AS OF CHANGE: 20070612 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: 07915290 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

 

June 12, 2007

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 June 12, 2007, NovaStar Financial, Inc. reported its Monthly Loan Origination Data and Selected Non-Conforming Loan Origination Data for the month of May 2007 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

 

(d)

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: June 12, 2007

 

/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 May 31,

 

 

 

2007

 

As a % of Total

 

2006

 

As a % of Total

 

Non-conforming Production Volume

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wholesale

 

$

155,965

 

61

%

$

853,284

 

86

%

Correspondent Bulk

 

 

861

 

0

 

 

41,006

 

4

 

Retail

 

 

99,939

 

39

 

 

93,134

 

10

 

Total

 

$

256,765

 

100

%

$

987,424

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

Funding Days in the Month

 

 

22

 

 

 

 

22

 

 

 

Average Originations Per Funding Day

 

$

11,671

 

 

 

$

44,883

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Five Months Ended May 31,

 

 

 

2007

 

As a % of Total

 

2006

 

As a % of Total

 

Non-conforming Production Volume

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wholesale

 

$

1,360,397

 

70

%

$

2,894,722

 

81

%

Correspondent Bulk

 

 

46,222

 

2

 

 

280,856

 

8

 

Retail

 

 

554,315

 

28

 

 

414,618

 

11

 

Total

 

$

1,960,934

 

100

%

$

3,590,196

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

Year to Date Funding Days

 

 

105

 

 

 

 

104

 

 

 

Average Originations Per Funding Day

 

$

18,676

 

 

 

$

34,521

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NOVASTAR FINANCIAL, INC.

SELECTED NON-CONFORMING LOAN ORIGINATION DATA

(unaudited)

 

 

 

 

For the Month Ended May 31, 2007

 

 

 

Weighted

 

 

Weighted

 

 

Weighted

 

 

 

 

 

 

Average

 

 

Average

 

 

Average

 

 

Percent

 

 

 

Coupon

 

 

LTV

 

 

FICO

 

 

of Total

 

Summary by Credit Grade

 

 

 

 

 

 

 

 

 

 

 

 

660 and above

 

8.89

%

 

86.4

%

 

696

 

 

21

%

620 to 659

 

9.37

 

 

83.0

 

 

639

 

 

25

 

580 to 619

 

9.67

 

 

79.3

 

 

599

 

 

23

 

540 to 579

 

10.00

 

 

75.1

 

 

559

 

 

19

 

539 and below

 

10.35

 

 

70.8

 

 

528

 

 

12

 

 

 

9.57

%

 

79.9

%

 

614

 

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary by Program Type

 

 

 

 

 

 

 

 

 

 

 

 

2-Year Fixed

 

10.14

%

 

81.3

%

 

603

 

 

37

%

2-Year Fixed 40/30

 

9.57

 

 

82.3

 

 

616

 

 

27

 

30-Year Fixed

 

9.12

 

 

74.6

 

 

610

 

 

18

 

40/30-Year Fixed

 

9.31

 

 

76.6

 

 

610

 

 

6

 

2-Year Fixed Interest-only

 

9.11

 

 

85.5

 

 

660

 

 

5

 

15-Year Fixed

 

8.91

 

 

71.4

 

 

617

 

 

2

 

Other Products

 

8.01

 

 

76.6

 

 

646

 

 

5

 

 

 

9.57

%

 

79.9

%

 

614

 

 

100

%

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

 

Coupon Excluding MTA

 

9.62

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

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