Exhibit 99.1
NOVASTAR FINANCIAL, INC.
MONTHLY LOAN ORIGINATION DATA
(dollars in thousands)
(unaudited)
For the Month Ended April 30, | For the Four Months Ended April 30, | |||||||||||||||||||||||
2005 | As a % of Total | 2004 | As a % of Total | 2005 | As a % of Total | 2004 | As a % of Total | |||||||||||||||||
Non-conforming production volume | ||||||||||||||||||||||||
Non-conforming | ||||||||||||||||||||||||
Wholesale | $ | 507,298 | 78 | % | $ | 422,543 | 65 | % | $ | 1,979,044 | 76 | % | $ | 1,564,195 | 64 | % | ||||||||
Correspondent/Bulk | 27,620 | 4 | % | 41,613 | 6 | % | 212,478 | 8 | % | 183,160 | 8 | % | ||||||||||||
Retail * | 116,166 | 18 | % | 190,764 | 29 | % | 407,413 | 16 | % | 690,684 | 28 | % | ||||||||||||
Total non-conforming production volume | $ | 651,084 | 100 | % | $ | 654,920 | 100 | % | $ | 2,598,935 | 100 | % | $ | 2,438,039 | 100 | % | ||||||||
# of funding days in the month | 21 | 22 | 83 | 84 | ||||||||||||||||||||
Average originations per funding day | $ | 31,004 | $ | 29,769 | $ | 31,312 | $ | 29,024 | ||||||||||||||||
Retail production volume * | ||||||||||||||||||||||||
Non-conforming | ||||||||||||||||||||||||
Sold to non-affiliates | $ | 52,654 | 23 | % | $ | 203,851 | 28 | % | $ | 337,844 | 32 | % | $ | 652,450 | 26 | % | ||||||||
Retained by NMI | 116,166 | 51 | % | 190,764 | 27 | % | 407,413 | 39 | % | 690,684 | 28 | % | ||||||||||||
Total non-conforming | 168,820 | 74 | % | 394,615 | 55 | % | 745,257 | 71 | % | 1,343,134 | 54 | % | ||||||||||||
Conforming/Government | 58,014 | 26 | % | 321,454 | 45 | % | 304,854 | 29 | % | 1,146,905 | 46 | % | ||||||||||||
Total retail production volume | $ | 226,834 | 100 | % | $ | 716,069 | 100 | % | $ | 1,050,111 | 100 | % | $ | 2,490,039 | 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
(Unaudited)
For the Month Ended 4/30/2005 | For the Month Ended 3/31/2005 | For the Month Ended 2/28/2005 | |||||||||||||||||||||||||||||||
Weighted Average Coupon | Weighted Average LTV | Weighted Average FICO | Percent of Total | Weighted Average Coupon | Weighted Average LTV | Weighted Average FICO | Percent of Total | Weighted Average Coupon | Weighted Average LTV | Weighted Average FICO | Percent of Total | ||||||||||||||||||||||
Summary by Credit Grade | |||||||||||||||||||||||||||||||||
660 and above | 7.32 | % | 83.2 | % | 700 | 33 | % | 7.15 | % | 83.1 | % | 700 | 33 | % | 7.07 | % | 83.8 | % | 700 | 32 | % | ||||||||||||
620 to 659 | 7.52 | % | 82.9 | % | 639 | 23 | % | 7.28 | % | 81.3 | % | 640 | 25 | % | 7.33 | % | 82.2 | % | 640 | 25 | % | ||||||||||||
580 to 619 | 7.78 | % | 82.6 | % | 599 | 19 | % | 7.66 | % | 83.0 | % | 601 | 20 | % | 7.69 | % | 82.8 | % | 599 | 18 | % | ||||||||||||
540 to 579 | 8.30 | % | 80.0 | % | 560 | 18 | % | 8.23 | % | 80.6 | % | 558 | 15 | % | 8.31 | % | 80.7 | % | 559 | 17 | % | ||||||||||||
539 and below | 8.93 | % | 78.3 | % | 528 | 7 | % | 8.82 | % | 78.8 | % | 528 | 7 | % | 8.84 | % | 78.4 | % | 527 | 8 | % | ||||||||||||
7.74 | % | 82.1 | % | 630 | 100 | % | 7.57 | % | 81.9 | % | 631 | 100 | % | 7.61 | % | 82.2 | % | 628 | 100 | % | |||||||||||||
Summary by Program Type | |||||||||||||||||||||||||||||||||
2-Year Fixed | 7.89 | % | 83.1 | % | 612 | 61 | % | 7.72 | % | 82.8 | % | 614 | 60 | % | 7.73 | % | 82.8 | % | 613 | 66 | % | ||||||||||||
2-Year Fixed Interest-only | 7.11 | % | 81.7 | % | 672 | 18 | % | 6.85 | % | 81.0 | % | 668 | 18 | % | 6.79 | % | 81.0 | % | 670 | 17 | % | ||||||||||||
3-Year Fixed | 7.28 | % | 81.7 | % | 646 | 1 | % | 7.29 | % | 77.8 | % | 627 | 2 | % | 7.50 | % | 81.3 | % | 614 | 3 | % | ||||||||||||
3-Year Fixed Interest-only | 6.67 | % | 71.7 | % | 676 | 1 | % | 6.69 | % | 79.2 | % | 659 | 1 | % | 6.57 | % | 74.7 | % | 663 | 1 | % | ||||||||||||
5-Year Fixed | 7.22 | % | 72.3 | % | 651 | 1 | % | 6.93 | % | 75.2 | % | 658 | 1 | % | 6.38 | % | 76.5 | % | 694 | 1 | % | ||||||||||||
5-Year Fixed Interest-only | 6.85 | % | 77.0 | % | 668 | 0 | % | 6.51 | % | 78.9 | % | 677 | 1 | % | 6.75 | % | 76.5 | % | 666 | 0 | % | ||||||||||||
15-Year Fixed | 8.29 | % | 78.5 | % | 637 | 2 | % | 7.99 | % | 77.2 | % | 642 | 1 | % | 8.25 | % | 77.8 | % | 642 | 2 | % | ||||||||||||
30-Year Fixed | 7.27 | % | 75.2 | % | 634 | 12 | % | 7.14 | % | 75.9 | % | 641 | 12 | % | 7.49 | % | 77.1 | % | 639 | 7 | % | ||||||||||||
30-Year Fixed Interest-only | 6.72 | % | 75.9 | % | 681 | 0 | % | 7.62 | % | 82.9 | % | 642 | 0 | % | 6.62 | % | 79.0 | % | 670 | 0 | % | ||||||||||||
Other Products | 10.10 | % | 96.8 | % | 674 | 4 | % | 10.00 | % | 96.6 | % | 681 | 4 | % | 10.09 | % | 96.2 | % | 675 | 3 | % | ||||||||||||
7.74 | % | 82.1 | % | 630 | 100 | % | 7.57 | % | 81.9 | % | 631 | 100 | % | 7.61 | % | 82.3 | % | 628 | 100 | % | |||||||||||||