1
NOVASTAR MORTGAGE FUNDING TRUST
NOVASTAR HOME EQUITY LOAN ASSET-BACKED BONDS
SERIES 1999-1
STATEMENT TO BONDHOLDER
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CUMULATIVE CURRENT
ORIGINAL PRINCIPAL REALIZED REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
A-1 75,000,000.00 69,813,288.68 338,158.12 1,365,327.85 1,703,485.97 0.00 0.00 0.00 68,447,960.83
A-2 20,000,000.00 17,613,075.05 86,634.31 664,355.31 750,989.62 0.00 0.00 0.00 16,948,719.74
A-3 45,000,000.00 42,447,508.18 222,318.82 248,575.01 470,893.83 0.00 0.00 0.00 42,198,933.17
A-4 20,000,000.00 17,673,873.53 94,054.46 138,790.52 232,844.98 0.00 0.00 0.00 17,535,083.01
B-1 2,197,208.51 2,197,208.51 10,642.73 0.00 10,642.73 0.00 0.00 0.00 2,197,208.51
B-2 585,922.27 585,922.27 2,882.01 0.00 2,882.01 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 72,332,668.68 197,501.10 0.00 197,501.10 0.00 0.00 0.00 72,332,668.68
IO-2 20,671,834.62 18,284,910.05 41,882.51 0.00 41,882.51 0.00 0.00 0.00 18,284,910.05
IO-3 46,035,805.62 43,483,314.18 87,989.69 0.00 87,989.69 0.00 0.00 0.00 43,483,314.18
IO-4 20,460,358.06 18,134,231.53 34,810.27 0.00 34,810.27 0.00 0.00 0.00 18,134,231.53
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 162,197,208.51 149,744,953.95 1,126,572.44 2,417,048.69 3,543,621.13 0.00 0.00 0.00 147,327,905.26
- ------------------------------------------------------------------------------------------------------------------------------------
AGGREGATE TOTALS:
Cumulative Loss Percentage 0.00000%
Delinquency Percentage 4.83252%
Rolling Delinquency Percentage 4.93778%
- -----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- -----------------------------------------------------------------------------------------------------------------------------------
A-1 66987WAC1 930.843849 4.508775 18.204371 22.713146 912.639478 5.812500% 5.838750%
A-2 66987WAD9 880.653753 4.331716 33.217766 37.549481 847.435987 5.902500% 5.928750%
A-3 66987WAE7 943.277960 4.940418 5.523889 10.464307 937.754070 6.285000% 6.285000%
A-4 66987WAF4 883.693677 4.702723 6.939526 11.642249 876.754151 6.386000% 6.386000%
B-1 999.999999 4.843751 0.000000 4.843751 999.999999 5.812500% 5.838750%
B-2 1,000.000000 4.918758 0.000000 4.918758 1,000.000000 5.902500% 5.928750%
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-1 933.091426 2.547764 0.000000 2.547764 933.091426 5.812500% 5.838750%
IO-2 884.532524 2.026066 0.000000 2.026066 884.532524 5.902500% 5.928750%
IO-3 944.554214 1.911332 0.000000 1.911332 944.554214 6.285000% 6.285000%
IO-4 886.310566 1.701352 0.000000 1.701352 886.310566 6.386000% 6.386000%
- -----------------------------------------------------------------------------------------------------------------------------------
Seller: NovaStar Financial, Inc.
Servicer: NovaStar Mortgage Corporation
Record Date: October 31, 1999
Distribution Date: October 25, 1999
- ------------------------------------------------------------------------------------------------------------------------------------
2
NOVASTAR HOME EQUITY LOAN TRUST
NOVASTAR HOME EQUITY LOAN ASSET-BACKED BONDS
SERIES 1999-1
STATEMENT TO BONDHOLDER - POOL I
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: October 25, 1999
- ------------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------
AGGREGATE COLLECTIONS FROM THE MORTGAGE LOANS IN POOL I
- ----------------------------------------------------------------------------------
Total Collection on Pool 1,969,553.28
Total Servicer Advances 0.00
Total Compensating Interest 0.00
- ----------------------------------------------------------------------------------
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 72,332,668.68
AGGREGATE ENDING PRINCIPAL BALANCE OF MORTGAGE LOANS 70,967,340.83
NUMBER OF LOANS AT MONTH END 774
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 1,324,668.04
PREPAYMENT PENALTIES 24,180.85
WEIGHTED AVERAGE MORTGAGE RATE 9.62294781%
- -------------------------------------------------------------------------------------------------
DELINQUENCY DELINQUENT DELINQUENT DELINQUENT LOANS IN REO
INFORMATION 30-59 DAYS 60-89 DAYS 90 + DAYS FORECLOSURE PROPERTY
- -------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE 1,988,937.04 171,058.78 202,676.59 2,623,344.20 1,060,495.74
NUMBER OF LOANS 21 2 3 24 14
- -------------------------------------------------------------------------------------------------
- ------------------------------------------------------
REPURCHASE CURRENT CUMULATIVE
INFORMATION PERIOD HISTORY
- ------------------------------------------------------
PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
- ------------------------------------------------------
- ------------------------------------------------------
CONVERTED MTGE CURRENT CUMULATIVE
LOANS INFO PERIOD HISTORY
- ------------------------------------------------------
PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
- ------------------------------------------------------
CUMULATIVE LOSS PERCENTAGE 0.00000%
DELINQUENCY PERCENTAGE 5.47649%
ROLLING DELINQUENCY PERCENTAGE 5.41362%
PREPAYMENT INTEREST SHORTFALLS 0.00
RELIEF ACT SHORTFALLS 0.00
MI INSURER INSOLVENCY EVENT OCCURRED No
- ------------------------------------------------------------------------------------------------------------------------------------
3
NOVASTAR HOME EQUITY LOAN TRUST
NOVASTAR HOME EQUITY LOAN ASSET-BACKED BONDS
SERIES 1999-1
STATEMENT TO BONDHOLDER - POOL II
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: October 25, 1999
- ------------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------
AGGREGATE COLLECTIONS FROM THE MORTGAGE LOANS IN POOL II
- ----------------------------------------------------------------------------------
Total Collection on Pool 810,601.28
Total Servicer Advances 0.00
Total Compensating Interest 0.00
- ----------------------------------------------------------------------------------
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 18,284,910.05
AGGREGATE ENDING PRINCIPAL BALANCE OF MORTGAGE LOANS 17,620,554.74
NUMBER OF LOANS AT MONTH END 109
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 652,486.81
PREPAYMENT PENALTIES 0.00
WEIGHTED AVERAGE MORTGAGE RATE 9.59781391%
- -------------------------------------------------------------------------------------------------
DELINQUENCY DELINQUENT DELINQUENT DELINQUENT LOANS IN REO
INFORMATION 30-59 DAYS 60-89 DAYS 90 + DAYS FORECLOSURE PROPERTY
- -------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE 481,762.08 125,477.26 0.00 604,329.08 642,499.17
NUMBER OF LOANS 4 1 0 3 4
- -------------------------------------------------------------------------------------------------
- ------------------------------------------------------
REPURCHASE CURRENT CUMULATIVE
INFORMATION PERIOD HISTORY
- ------------------------------------------------------
PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
- ------------------------------------------------------
- ------------------------------------------------------
CONVERTED MTGE CURRENT CUMULATIVE
LOANS INFO PERIOD HISTORY
- ------------------------------------------------------
PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
- ------------------------------------------------------
CUMULATIVE LOSS PERCENTAGE 0.00000%
DELINQUENCY PERCENTAGE 7.07599%
ROLLING DELINQUENCY PERCENTAGE 8.75137%
PREPAYMENT INTEREST SHORTFALLS 0.00
RELIEF ACT SHORTFALLS 0.00
MI INSURER INSOLVENCY EVENT OCCURRED No
- ------------------------------------------------------------------------------------------------------------------------------------
4
NOVASTAR HOME EQUITY LOAN TRUST
NOVASTAR HOME EQUITY LOAN ASSET-BACKED BONDS
SERIES 1999-1
STATEMENT TO BONDHOLDER - POOL III
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: October 25, 1999
- ------------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------
AGGREGATE COLLECTIONS FROM THE MORTGAGE LOANS IN POOL III
- ----------------------------------------------------------------------------------
Total Collection on Pool 601,235.55
Total Servicer Advances 0.00
Total Compensating Interest 0.00
- ----------------------------------------------------------------------------------
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 43,483,314.18
AGGREGATE ENDING PRINCIPAL BALANCE OF MORTGAGE LOANS 43,234,739.17
NUMBER OF LOANS AT MONTH END 573
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 207,442.43
PREPAYMENT PENALTIES 6,345.51
WEIGHTED AVERAGE MORTGAGE RATE 9.55718403%
- -------------------------------------------------------------------------------------------------
DELINQUENCY DELINQUENT DELINQUENT DELINQUENT LOANS IN REO
INFORMATION 30-59 DAYS 60-89 DAYS 90 + DAYS FORECLOSURE PROPERTY
- -------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE 924,535.58 77,953.78 63,717.19 914,127.16 370,943.29
NUMBER OF LOANS 14 1 1 12 5
- -------------------------------------------------------------------------------------------------
- ------------------------------------------------------
REPURCHASE CURRENT CUMULATIVE
INFORMATION PERIOD HISTORY
- ------------------------------------------------------
PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
- ------------------------------------------------------
- ------------------------------------------------------
CONVERTED MTGE CURRENT CUMULATIVE
LOANS INFO PERIOD HISTORY
- ------------------------------------------------------
PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
- ------------------------------------------------------
CUMULATIVE LOSS PERCENTAGE 0.00000%
DELINQUENCY PERCENTAGE 3.11968%
ROLLING DELINQUENCY PERCENTAGE 2.94022%
PREPAYMENT INTEREST SHORTFALLS 0.00
RELIEF ACT SHORTFALLS 0.00
MI INSURER INSOLVENCY EVENT OCCURRED No
- ------------------------------------------------------------------------------------------------------------------------------------
5
NOVASTAR HOME EQUITY LOAN TRUST
NOVASTAR HOME EQUITY LOAN ASSET-BACKED BONDS
SERIES 1999-1
STATEMENT TO BONDHOLDER - POOL IV
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: October 25, 1999
- ------------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------
AGGREGATE COLLECTIONS FROM THE MORTGAGE LOANS IN POOL IV
- ----------------------------------------------------------------------------------
Total Collection on Pool 285,796.85
Total Servicer Advances 0.00
Total Compensating Interest 0.00
- ----------------------------------------------------------------------------------
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 18,134,231.53
AGGREGATE ENDING PRINCIPAL BALANCE OF MORTGAGE LOANS 17,995,441.01
NUMBER OF LOANS AT MONTH END 160
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 124,603.96
PREPAYMENT PENALTIES 4,234.92
WEIGHTED AVERAGE MORTGAGE RATE 9.44764005%
- -------------------------------------------------------------------------------------------------
DELINQUENCY DELINQUENT DELINQUENT DELINQUENT LOANS IN REO
INFORMATION 30-59 DAYS 60-89 DAYS 90 + DAYS FORECLOSURE PROPERTY
- -------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE 1,064,995.80 529,667.85 0.00 709,127.66 48,730.62
NUMBER OF LOANS 6 2 0 7 1
- -------------------------------------------------------------------------------------------------
- ------------------------------------------------------
REPURCHASE CURRENT CUMULATIVE
INFORMATION PERIOD HISTORY
- ------------------------------------------------------
PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
- ------------------------------------------------------
- ------------------------------------------------------
CONVERTED MTGE CURRENT CUMULATIVE
LOANS INFO PERIOD HISTORY
- ------------------------------------------------------
PRINCIPAL BALANCE 0.00 0.00
NUMBER OF LOANS 0 0
- ------------------------------------------------------
CUMULATIVE LOSS PERCENTAGE 0.00000%
DELINQUENCY PERCENTAGE 4.21139%
ROLLING DELINQUENCY PERCENTAGE 3.99812%
PREPAYMENT INTEREST SHORTFALLS 0.00
RELIEF ACT SHORTFALLS 0.00
MI INSURER INSOLVENCY EVENT OCCURRED No
- ------------------------------------------------------------------------------------------------------------------------------------