Exhibit 99.1
NOVASTAR FINANCIAL, INC.
MONTHLY LOAN ORIGINATION DATA
(dollars in thousands)
(unaudited)
For the Month Ended July 31, | For the Seven Months Ended July 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 | $ | 666,203 | 76 | % | $ | 498,920 | 68 | % | $ | 3,966,115 | 77 | % | $ | 2,965,918 | 66 | % | ||||||||
Correspondent/Bulk | 61,596 | 7 | % | 48,274 | 7 | % | 374,174 | 7 | % | 293,480 | 7 | % | ||||||||||||
Retail * | 154,470 | 17 | % | 186,095 | 25 | % | 847,463 | 16 | % | 1,235,811 | 27 | % | ||||||||||||
Total non-conforming production volume | $ | 882,269 | 100 | % | $ | 733,289 | 100 | % | $ | 5,187,752 | 100 | % | $ | 4,495,209 | 100 | % | ||||||||
# of funding days in the month | 20 | 21 | 146 | 146 | ||||||||||||||||||||
Average originations per funding day | $ | 44,113 | $ | 34,919 | $ | 35,533 | $ | 30,789 | ||||||||||||||||
Retail production volume * | ||||||||||||||||||||||||
Non-conforming | ||||||||||||||||||||||||
Sold to non-affiliates | $ | 46,525 | 18 | % | $ | 199,480 | 34 | % | $ | 482,941 | 27 | % | $ | 1,283,419 | 30 | % | ||||||||
Retained by NMI | 154,470 | 62 | % | 186,095 | 31 | % | 847,463 | 47 | % | 1,235,811 | 28 | % | ||||||||||||
Total non-conforming | 200,995 | 80 | % | 385,575 | 65 | % | 1,330,404 | 74 | % | 2,519,230 | 58 | % | ||||||||||||
Conforming/Government | 49,750 | 20 | % | 210,275 | 35 | % | 457,578 | 26 | % | 1,851,390 | 42 | % | ||||||||||||
Total retail production volume | $ | 250,745 | 100 | % | $ | 595,850 | 100 | % | $ | 1,787,982 | 100 | % | $ | 4,370,620 | 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 7/31/2005 | For the Month Ended 6/30/2005 | For the Month Ended 5/31/2005 | |||||||||||||||||||||||||||||||
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 | 6.89 | % | 83.0 | % | 700 | 33 | % | 7.07 | % | 83.9 | % | 703 | 34 | % | 7.16 | % | 83.6 | % | 702 | 34 | % | ||||||||||||
620 to 659 | 7.22 | % | 83.3 | % | 640 | 26 | % | 7.35 | % | 83.4 | % | 639 | 25 | % | 7.35 | % | 82.0 | % | 639 | 24 | % | ||||||||||||
580 to 619 | 7.54 | % | 81.7 | % | 600 | 20 | % | 7.65 | % | 82.4 | % | 600 | 19 | % | 7.66 | % | 81.8 | % | 600 | 18 | % | ||||||||||||
540 to 579 | 8.04 | % | 80.7 | % | 559 | 14 | % | 8.19 | % | 81.0 | % | 560 | 15 | % | 8.28 | % | 80.8 | % | 558 | 17 | % | ||||||||||||
539 and below | 8.71 | % | 78.3 | % | 528 | 7 | % | 8.81 | % | 77.8 | % | 528 | 7 | % | 9.01 | % | 79.3 | % | 529 | 7 | % | ||||||||||||
7.40 | % | 82.1 | % | 632 | 100 | % | 7.54 | % | 82.6 | % | 634 | 100 | % | 7.62 | % | 82.1 | % | 632 | 100 | % | |||||||||||||
Summary by Program Type | |||||||||||||||||||||||||||||||||
2-Year Fixed | 7.67 | % | 83.1 | % | 610 | 54 | % | 7.77 | % | 83.2 | % | 612 | 57 | % | 7.82 | % | 83.1 | % | 612 | 57 | % | ||||||||||||
2-Year Fixed Interest-only | 6.75 | % | 81.6 | % | 663 | 21 | % | 6.88 | % | 81.9 | % | 673 | 21 | % | 6.95 | % | 81.6 | % | 670 | 19 | % | ||||||||||||
3-Year Fixed | 7.00 | % | 76.2 | % | 613 | 2 | % | 7.19 | % | 80.3 | % | 624 | 1 | % | 7.65 | % | 80.4 | % | 621 | 2 | % | ||||||||||||
3-Year Fixed Interest-only | 6.50 | % | 79.6 | % | 673 | 1 | % | 6.57 | % | 82.1 | % | 673 | 1 | % | 6.16 | % | 78.5 | % | 658 | 1 | % | ||||||||||||
5-Year Fixed | 6.72 | % | 75.7 | % | 649 | 1 | % | 6.98 | % | 80.9 | % | 675 | 0 | % | 6.64 | % | 78.8 | % | 670 | 0 | % | ||||||||||||
5-Year Fixed Interest-only | 6.53 | % | 78.1 | % | 678 | 1 | % | 6.87 | % | 80.4 | % | 682 | 0 | % | 6.75 | % | 78.9 | % | 666 | 0 | % | ||||||||||||
15-Year Fixed | 7.59 | % | 75.5 | % | 656 | 2 | % | 8.09 | % | 78.9 | % | 646 | 2 | % | 7.94 | % | 76.6 | % | 648 | 2 | % | ||||||||||||
30-Year Fixed | 7.03 | % | 76.3 | % | 641 | 12 | % | 7.17 | % | 77.1 | % | 642 | 12 | % | 7.25 | % | 75.5 | % | 641 | 14 | % | ||||||||||||
30-Year Fixed Interest-only | 6.49 | % | 78.4 | % | 671 | 0 | % | 6.89 | % | 79.2 | % | 679 | 1 | % | 6.88 | % | 79.6 | % | 671 | 0 | % | ||||||||||||
Other Products | 9.97 | % | 95.5 | % | 671 | 5 | % | 10.24 | % | 97.3 | % | 677 | 4 | % | 10.01 | % | 96.3 | % | 672 | 4 | % | ||||||||||||
MTA | 1.81 | % | 75.4 | % | 716 | 1 | % | 2.27 | % | 81.4 | % | 693 | 1 | % | 2.28 | % | 81.6 | % | 711 | 1 | % | ||||||||||||
7.40 | % | 82.1 | % | 632 | 100 | % | 7.54 | % | 82.6 | % | 634 | 100 | % | 7.62 | % | 82.1 | % | 632 | 100 | % | |||||||||||||
Weighted Average Coupon Excluding MTA | 7.47 | % | 7.59 | % | 7.65 | % | |||||||||||||||||||||||||||