1
NOVASTAR MORTGAGE FUNDING TRUST
NOVASTAR HOME EQUITY LOAN ASSET-BACKED BONDS
SERIES 1999-1
STATEMENT TO BONDHOLDER
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DISTRIBUTIONS IN DOLLARS
PRIOR CUMULATIVE CURRENT
ORIGINAL PRINCIPAL REALIZED REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES LOSSES INTEREST BALANCE
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A-1 75,000,000.00 70,637,154.34 350,892.52 823,865.66 1,174,758.18 0.00 0.00 0.00 69,813,288.68
A-2 20,000,000.00 18,071,949.10 91,173.61 458,874.05 550,047.66 0.00 0.00 0.00 17,613,075.05
A-3 45,000,000.00 42,901,242.01 224,695.26 453,733.83 678,429.09 0.00 0.00 0.00 42,447,508.18
A-4 20,000,000.00 18,128,719.02 96,475.00 454,845.49 551,320.49 0.00 0.00 0.00 17,673,873.53
B-1 2,197,208.51 2,197,208.51 10,914.71 0.00 10,914.71 0.00 0.00 0.00 2,197,208.51
B-2 585,922.27 585,922.27 2,956.00 0.00 2,956.00 0.00 0.00 0.00 585,922.27
B-3 1,318,325.11 1,318,325.11 6,904.73 0.00 6,904.73 0.00 0.00 0.00 1,318,325.11
B-4 585,922.27 524,965.13 2,793.69 0.00 2,793.69 0.00 0.00 0.00 524,965.13
IO-1 77,519,379.85 73,156,534.34 189,170.27 0.00 189,170.27 0.00 0.00 0.00 73,156,534.34
IO-2 20,671,834.62 18,743,784.10 52,434.56 0.00 52,434.56 0.00 0.00 0.00 18,743,784.10
IO-3 46,035,805.62 43,937,048.01 89,596.41 0.00 89,596.41 0.00 0.00 0.00 43,937,048.01
IO-4 20,460,358.06 18,589,077.02 34,874.88 0.00 34,874.88 0.00 0.00 0.00 18,589,077.02
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TOTALS 162,197,208.51 151,936,272.98 1,152,881.64 2,191,319.03 3,344,200.67 0.00 0.00 0.00 149,744,953.95
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FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
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A-1 66987WAC1 941.828725 4.678567 10.984875 15.663442 930.843849 5.768750% 5.812500%
A-2 66987WAD9 903.597455 4.558681 22.943703 27.502383 880.653753 5.858750% 5.902500%
A-3 66987WAE7 953.360934 4.993228 10.082974 15.076202 943.277960 6.285000% 6.285000%
A-4 66987WAF4 906.435951 4.823750 22.742275 27.566025 883.693677 6.386000% 6.386000%
B-1 999.999999 4.967535 0.000000 4.967535 999.999999 5.768750% 5.812500%
B-2 1,000.000000 5.045038 0.000000 5.045038 1,000.000000 5.858750% 5.902500%
B-3 1,000.000002 5.237502 0.000000 5.237502 1,000.000002 6.285000% 6.285000%
B-4 895.963777 4.768022 0.000000 4.768022 895.963777 6.386000% 6.386000%
IO-1 943.719293 2.440296 0.000000 2.440296 943.719293 5.768750% 5.812500%
IO-2 906.730556 2.536522 0.000000 2.536522 906.730556 5.858750% 5.902500%
IO-3 954.410321 1.946233 0.000000 1.946233 954.410321 6.285000% 6.285000%
IO-4 908.541139 1.704510 0.000000 1.704510 908.541139 6.386000% 6.386000%
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Seller: NovaStar Financial, Inc.
Servicer: NovaStar Mortgage Corporation
Record Date: September 30, 1999
Distribution Date: September 27, 1999
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2
NOVASTAR HOME EQUITY LOAN TRUST
NOVASTAR HOME EQUITY LOAN ASSET-BACKED BONDS
SERIES 1999-1
STATEMENT TO BONDHOLDER - POOL I
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Distribution Date: September 27, 1999
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AGGREGATE COLLECTIONS FROM THE MORTGAGE LOANS IN POOL I
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Total Collection on Pool 1,434,635.64
Total Servicer Advances 0.00
Total Compensating Interest 0.00
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AVAILABLE CARRY-FORWARD AMOUNT 0.00
AGGREGATE UNPAID CARRY-FORWARD AMOUNT 0.00
CURRENT PERIOD INSURED PAYMENTS PAID BY INSURER 0.00
AGGREGATE UNREIMBURSED INSURED AMOUNTS PAYABLE TO INSURER 0.00
AGGREGATE BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOANS 73,156,534.34
AGGREGATE ENDING PRINCIPAL BALANCE OF MORTGAGE LOANS 72,332,668.68
NUMBER OF LOANS AT MONTH END 790
REQUIRED SUBORDINATION AMOUNT 2,519,380.00
CURRENT SUBORDINATION AMOUNT 2,519,380.00
SUBORDINATION INCREASE AMOUNT 0.00
SUBORDINATION REDUCTION AMOUNT 0.00
NET MONTHLY EXCESS CASHFLOW 0.00
UNPAID ACCRUED INTEREST 0.00
CURRENT REALIZED LOSS ON MORTGAGE LOANS 0.00
AGGREGATE REALIZED LOSS ON MORTGAGE LOANS 0.00
PREPAYMENTS 786,411.00
PREPAYMENT PENALTIES 24,909.71
WEIGHTED AVERAGE MORTGAGE RATE 9.60997304%
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DELINQUENCY DELINQUENT DELINQUENT DELINQUENT LOANS IN REO
INFORMATION 30-59 DAYS 60-89 DAYS 90 + DAYS FORECLOSURE PROPERTY
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PRINCIPAL BALANCE 1,428,505.06 350,817.64 128,214.22 2,601,175.76 1,283,323.12
NUMBER OF LOANS 17 4 2 24 17
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REPURCHASE CURRENT CUMULATIVE
INFORMATION PERIOD HISTORY
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PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
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CONVERTED MTGE CURRENT CUMULATIVE
LOANS INFO PERIOD HISTORY
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PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
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CUMULATIVE LOSS PERCENTAGE 0.00000%
DELINQUENCY PERCENTAGE 5.54758%
ROLLING DELINQUENCY PERCENTAGE 5.13226%
PREPAYMENT INTEREST SHORTFALLS 0.00
RELIEF ACT SHORTFALLS 0.00
MI INSURER INSOLVENCY EVENT OCCURRED No
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3
NOVASTAR HOME EQUITY LOAN TRUST
NOVASTAR HOME EQUITY LOAN ASSET-BACKED BONDS
SERIES 1999-1
STATEMENT TO BONDHOLDER - POOL II
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Distribution Date: September 27, 1999
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AGGREGATE COLLECTIONS FROM THE MORTGAGE LOANS IN POOL II
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Total Collection on Pool 620,916.32
Total Servicer Advances 0.00
Total Compensating Interest 0.00
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AVAILABLE CARRY-FORWARD AMOUNT 0.00
AGGREGATE UNPAID CARRY-FORWARD AMOUNT 0.00
CURRENT PERIOD INSURED PAYMENTS PAID BY INSURER 0.00
AGGREGATE UNREIMBURSED INSURED AMOUNTS PAYABLE TO INSURER 0.00
AGGREGATE BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOANS 18,743,784.10
AGGREGATE ENDING PRINCIPAL BALANCE OF MORTGAGE LOANS 18,284,910.05
NUMBER OF LOANS AT MONTH END 112
REQUIRED SUBORDINATION AMOUNT 671,835.00
CURRENT SUBORDINATION AMOUNT 671,835.00
SUBORDINATION INCREASE AMOUNT 0.00
SUBORDINATION REDUCTION AMOUNT 0.00
NET MONTHLY EXCESS CASHFLOW 0.00
UNPAID ACCRUED INTEREST 0.00
CURRENT REALIZED LOSS ON MORTGAGE LOANS 0.00
AGGREGATE REALIZED LOSS ON MORTGAGE LOANS 0.00
PREPAYMENTS 449,314.04
PREPAYMENT PENALTIES 12,506.52
WEIGHTED AVERAGE MORTGAGE RATE 9.57346174%
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DELINQUENCY DELINQUENT DELINQUENT DELINQUENT LOANS IN REO
INFORMATION 30-59 DAYS 60-89 DAYS 90 + DAYS FORECLOSURE PROPERTY
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PRINCIPAL BALANCE 190,874.36 0.00 366,668.92 513,099.99 833,281.06
NUMBER OF LOANS 2 0 1 3 5
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REPURCHASE CURRENT CUMULATIVE
INFORMATION PERIOD HISTORY
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PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
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CONVERTED MTGE CURRENT CUMULATIVE
LOANS INFO PERIOD HISTORY
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PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
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CUMULATIVE LOSS PERCENTAGE 0.00000%
DELINQUENCY PERCENTAGE 9.36865%
ROLLING DELINQUENCY PERCENTAGE 8.85264%
PREPAYMENT INTEREST SHORTFALLS 0.00
RELIEF ACT SHORTFALLS 0.00
MI INSURER INSOLVENCY EVENT OCCURRED No
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4
NOVASTAR HOME EQUITY LOAN TRUST
NOVASTAR HOME EQUITY LOAN ASSET-BACKED BONDS
SERIES 1999-1
STATEMENT TO BONDHOLDER - POOL III
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Distribution Date: September 27, 1999
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AGGREGATE COLLECTIONS FROM THE MORTGAGE LOANS IN POOL III
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Total Collection on Pool 810,957.83
Total Servicer Advances 0.00
Total Compensating Interest 0.00
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AVAILABLE FUNDS CAP CARRY-FORWARD AMOUNT 0.00
AGGREGATE UNPAID AVAILABLE FUNDS CAP CARRY-FORWARD AMOUNT 0.00
AVAILABLE CARRY-FORWARD AMOUNT 0.00
AGGREGATE UNPAID CARRY-FORWARD AMOUNT 0.00
AGGREGATE BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOANS 43,937,048.01
AGGREGATE ENDING PRINCIPAL BALANCE OF MORTGAGE LOANS 43,483,314.18
NUMBER OF LOANS AT MONTH END 576
REQUIRED SUBORDINATION AMOUNT 1,035,806.00
CURRENT SUBORDINATION AMOUNT 1,035,806.00
SUBORDINATION INCREASE AMOUNT 0.00
SUBORDINATION REDUCTION AMOUNT 0.00
NET MONTHLY EXCESS CASHFLOW 0.00
UNPAID ACCRUED INTEREST 0.00
CURRENT REALIZED LOSS ON MORTGAGE LOANS 0.00
AGGREGATE REALIZED LOSS ON MORTGAGE LOANS 0.00
PREPAYMENTS 408,308.25
PREPAYMENT PENALTIES 7,294.91
WEIGHTED AVERAGE MORTGAGE RATE 9.55719437%
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DELINQUENCY DELINQUENT DELINQUENT DELINQUENT LOANS IN REO
INFORMATION 30-59 DAYS 60-89 DAYS 90 + DAYS FORECLOSURE PROPERTY
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PRINCIPAL BALANCE 627,875.03 275,942.65 63,717.19 1,267,089.17 172,321.57
NUMBER OF LOANS 10 5 1 14 3
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REPURCHASE CURRENT CUMULATIVE
INFORMATION PERIOD HISTORY
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PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
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CONVERTED MTGE CURRENT CUMULATIVE
LOANS INFO PERIOD HISTORY
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PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
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CUMULATIVE LOSS PERCENTAGE 0.00000%
DELINQUENCY PERCENTAGE 3.45679%
ROLLING DELINQUENCY PERCENTAGE 2.53706%
PREPAYMENT INTEREST SHORTFALLS 0.00
RELIEF ACT SHORTFALLS 0.00
URER INSOLVENCY EVENT OCCURRED No
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5
NOVASTAR HOME EQUITY LOAN TRUST
NOVASTAR HOME EQUITY LOAN ASSET-BACKED BONDS
SERIES 1999-1
STATEMENT TO BONDHOLDER - POOL IV
==================================================================================================================================
Distribution Date: September 27, 1999
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AGGREGATE COLLECTIONS FROM THE MORTGAGE LOANS IN POOL IV
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Total Collection on Pool 604,753.61
Total Servicer Advances 0.00
Total Compensating Interest 0.00
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AVAILABLE CARRY-FORWARD AMOUNT 0.00
AGGREGATE UNPAID CARRY-FORWARD AMOUNT 0.00
CURRENT PERIOD INSURED PAYMENTS PAID BY INSURER 0.00
AGGREGATE UNREIMBURSED INSURED AMOUNTS PAYABLE TO INSURER 0.00
AGGREGATE BEGINNING PRINCIPAL BALANCE OF MORTGAGE LOANS 18,589,077.02
AGGREGATE ENDING PRINCIPAL BALANCE OF MORTGAGE LOANS 18,134,231.53
NUMBER OF LOANS AT MONTH END 162
REQUIRED SUBORDINATION AMOUNT 460,358.00
CURRENT SUBORDINATION AMOUNT 460,358.00
SUBORDINATION INCREASE AMOUNT 0.00
SUBORDINATION REDUCTION AMOUNT 0.00
NET MONTHLY EXCESS CASHFLOW 0.00
UNPAID ACCRUED INTEREST 0.00
CURRENT REALIZED LOSS ON MORTGAGE LOANS 0.00
AGGREGATE REALIZED LOSS ON MORTGAGE LOANS 0.00
PREPAYMENTS 395,574.74
PREPAYMENT PENALTIES 3,509.23
WEIGHTED AVERAGE MORTGAGE RATE 9.45063963%
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DELINQUENCY DELINQUENT DELINQUENT DELINQUENT LOANS IN REO
INFORMATION 30-59 DAYS 60-89 DAYS 90 + DAYS FORECLOSURE PROPERTY
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PRINCIPAL BALANCE 1,365,464.25 142,204.03 0.00 683,648.21 48,730.62
NUMBER OF LOANS 5 1 0 8 1
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REPURCHASE CURRENT CUMULATIVE
INFORMATION PERIOD HISTORY
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PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
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CONVERTED MTGE CURRENT CUMULATIVE
LOANS INFO PERIOD HISTORY
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PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
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CUMULATIVE LOSS PERCENTAGE 0.00000%
DELINQUENCY PERCENTAGE 4.03865%
ROLLING DELINQUENCY PERCENTAGE 3.65303%
PREPAYMENT INTEREST SHORTFALLS 0.00
RELIEF ACT SHORTFALLS 0.00
MI INSURER INSOLVENCY EVENT OCCURRED No
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