Exhibit 99.1
NOVASTAR FINANCIAL, INC.
MONTHLY LOAN ORIGINATION DATA
(dollars in thousands)
(unaudited)
For the Month Ended May 31, | For the Five Months Ended May 31, | |||||||||||||||||||||||
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 | $ | 590,432 | 75 | % | $ | 406,543 | 68 | % | $ | 2,569,476 | 76 | % | $ | 1,970,738 | 65 | % | ||||||||
Correspondent/Bulk | 54,757 | 7 | % | 21,511 | 4 | % | 267,235 | 8 | % | 204,671 | 7 | % | ||||||||||||
Retail * | 139,239 | 18 | % | 164,792 | 28 | % | 546,652 | 16 | % | 855,476 | 28 | % | ||||||||||||
Total non-conforming production volume | $ | 784,428 | 100 | % | $ | 592,846 | 100 | % | $ | 3,383,363 | 100 | % | $ | 3,030,885 | 100 | % | ||||||||
# of funding days in the month | 21 | 20 | 104 | 104 | ||||||||||||||||||||
Average originations per funding day | $ | 37,354 | $ | 29,642 | $ | 32,532 | $ | 29,143 | ||||||||||||||||
Retail production volume * | ||||||||||||||||||||||||
Non-conforming | ||||||||||||||||||||||||
Sold to non-affiliates | $ | 56,149 | 23 | % | $ | 211,883 | 34 | % | $ | 393,993 | 30 | % | $ | 864,333 | 28 | % | ||||||||
Retained by NMI | 139,239 | 56 | % | 164,792 | 26 | % | 546,652 | 42 | % | 855,476 | 27 | % | ||||||||||||
Total non-conforming | 195,388 | 79 | % | 376,675 | 60 | % | 940,645 | 72 | % | 1,719,809 | 55 | % | ||||||||||||
Conforming/Government | 50,872 | 21 | % | 255,045 | 40 | % | 355,726 | 28 | % | 1,401,950 | 45 | % | ||||||||||||
Total retail production volume | $ | 246,260 | 100 | % | $ | 631,720 | 100 | % | $ | 1,296,371 | 100 | % | $ | 3,121,759 | 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 5/31/2005 | For the Month Ended 4/30/2005 | For the Month Ended 3/31/2005 | |||||||||||||||||||||||||||||||
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 | 7.16 | % | 83.6 | % | 702 | 34 | % | 7.32 | % | 83.2 | % | 700 | 33 | % | 7.15 | % | 83.1 | % | 700 | 33 | % | ||||||||||||
620 to 659 | 7.35 | % | 82.0 | % | 639 | 24 | % | 7.52 | % | 82.9 | % | 639 | 23 | % | 7.28 | % | 81.3 | % | 640 | 25 | % | ||||||||||||
580 to 619 | 7.66 | % | 81.8 | % | 600 | 18 | % | 7.78 | % | 82.6 | % | 599 | 19 | % | 7.66 | % | 83.0 | % | 601 | 20 | % | ||||||||||||
540 to 579 | 8.28 | % | 80.8 | % | 558 | 17 | % | 8.30 | % | 80.0 | % | 560 | 18 | % | 8.23 | % | 80.6 | % | 558 | 15 | % | ||||||||||||
539 and below | 9.01 | % | 79.3 | % | 529 | 7 | % | 8.93 | % | 78.3 | % | 528 | 7 | % | 8.82 | % | 78.8 | % | 528 | 7 | % | ||||||||||||
7.62 | % | 82.1 | % | 632 | 100 | % | 7.74 | % | 82.1 | % | 630 | 100 | % | 7.57 | % | 81.9 | % | 631 | 100 | % | |||||||||||||
Summary by Program Type | |||||||||||||||||||||||||||||||||
2-Year Fixed | 7.82 | % | 83.1 | % | 612 | 57 | % | 7.89 | % | 83.1 | % | 612 | 61 | % | 7.72 | % | 82.8 | % | 614 | 60 | % | ||||||||||||
2-Year Fixed Interest-only | 6.95 | % | 81.6 | % | 670 | 19 | % | 7.11 | % | 81.7 | % | 672 | 18 | % | 6.85 | % | 81.0 | % | 668 | 18 | % | ||||||||||||
3-Year Fixed | 7.65 | % | 80.4 | % | 621 | 2 | % | 7.28 | % | 81.7 | % | 646 | 1 | % | 7.29 | % | 77.8 | % | 627 | 2 | % | ||||||||||||
3-Year Fixed Interest-only | 6.16 | % | 78.5 | % | 658 | 1 | % | 6.67 | % | 71.7 | % | 676 | 1 | % | 6.69 | % | 79.2 | % | 659 | 1 | % | ||||||||||||
5-Year Fixed | 6.64 | % | 78.8 | % | 670 | 0 | % | 7.22 | % | 72.3 | % | 651 | 1 | % | 6.93 | % | 75.2 | % | 658 | 1 | % | ||||||||||||
5-Year Fixed Interest-only | 6.75 | % | 78.9 | % | 666 | 0 | % | 6.85 | % | 77.0 | % | 668 | 0 | % | 6.51 | % | 78.9 | % | 677 | 1 | % | ||||||||||||
15-Year Fixed | 7.94 | % | 76.6 | % | 648 | 2 | % | 8.29 | % | 78.5 | % | 637 | 2 | % | 7.99 | % | 77.2 | % | 642 | 1 | % | ||||||||||||
30-Year Fixed | 7.25 | % | 75.5 | % | 641 | 14 | % | 7.27 | % | 75.2 | % | 634 | 12 | % | 7.14 | % | 75.9 | % | 641 | 12 | % | ||||||||||||
30-Year Fixed Interest-only | 6.88 | % | 79.6 | % | 671 | 0 | % | 6.72 | % | 75.9 | % | 681 | 0 | % | 7.62 | % | 82.9 | % | 642 | 0 | % | ||||||||||||
Other Products | 9.09 | % | 94.5 | % | 677 | 5 | % | 10.10 | % | 96.8 | % | 674 | 4 | % | 10.00 | % | 96.6 | % | 681 | 4 | % | ||||||||||||
7.62 | % | 82.1 | % | 632 | 100 | % | 7.74 | % | 82.1 | % | 630 | 100 | % | 7.57 | % | 81.9 | % | 631 | 100 | % | |||||||||||||