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NovaStar Mortgage Funding Trust
NovaStar Home Equity Loan Asset-Backed Notes
Series 2001-2
Statement To Bondholder
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DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
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A-1 200,000,000.00 198,608,438.05 387,286.45 1,375,284.33 1,762,570.78 0.00 0.00 197,233,153.72
A-2 200,000,000.00 198,555,556.39 402,075.00 857,019.46 1,259,094.46 0.00 0.00 197,698,536.93
A-3 344,000,000.00 341,515,557.01 671,647.26 1,474,073.48 2,145,720.74 0.00 0.00 340,041,483.53
M-1 16,000,000.00 16,000,000.00 36,666.67 0.00 36,666.67 0.00 0.00 16,000,000.00
M-2 16,000,000.00 16,000,000.00 41,333.33 0.00 41,333.33 0.00 0.00 16,000,000.00
M-3 12,000,000.00 12,000,000.00 38,500.00 0.00 38,500.00 0.00 0.00 12,000,000.00
A-IO 800,000,000.00 0.00 3,488,397.03 0.00 3,488,397.03 0.00 0.00 0.00
O 12,000,000.00 12,000,000.00 0.00 0.00 0.00 0.00 0.00 12,000,000.00
P 100.00 100.00 38,766.95 0.00 38,766.95 0.00 0.00 100.00
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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TOTALS 800,000,100.00 794,679,651.45 5,104,672.69 3,706,377.27 8,811,049.96 0.00 0.00 790,973,274.18
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FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
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A-1 00000XXX0 993.042190 1.936432 6.876422 8.812854 986.165769 2.340000% 1.932400%
A-2 00000XXX0 992.777782 2.010375 4.285097 6.295472 988.492685 2.430000% 1.933300%
A-3 00000XXX0 992.777782 1.952463 4.285097 6.237560 988.492685 2.360000% 1.932600%
M-1 00000XXX0 1,000.000000 2.291667 0.000000 2.291667 1,000.000000 2.750000% 1.936500%
M-2 00000XXX0 1,000.000000 2.583333 0.000000 2.583333 1,000.000000 3.100000% 1.940000%
M-3 00000XXX0 1,000.000000 3.208333 0.000000 3.208333 1,000.000000 3.850000% 1.947500%
A-IO 00000XXX0 0.000000 4.360496 0.000000 4.360496 - 5.977000% -
O 00000XXX0 1,000.000000 0.000000 0.000000 0.000000 1,000.000000 -
P 00000XXX0 - - - - - -
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Seller: NovaStar Financial, Inc.
Servicer: NovaStar Mortgage Corporation
Record Date: December 31, 2001
Distribution Date: December 26, 2001
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Page 1 of 2
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NovaStar Mortgage Funding Trust
NovaStar Home Equity Loan Asset-Backed Notes
Series 2001-2
Statement To Bondholder
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Distribution Date: December 26, 2001
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Aggregate Collections From the Mortgage Loans
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Available Funds 8,813,698.90
Total Servicer Advances 0.00
Total Compensating Interest 0.00
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Aggregate Beginning Principal Balance of Mortgage Loans 672,882,870.33
Aggregate Ending Principal Balance of Mortgage Loans 669,176,493.06
Available Funds Cap Carryforward Amount 0.00
Credit Enhancement Percentage 7.07989%
Cumulative Realized Losses 0.00
Current Realized Losses 0.00
Loan Count 5,222
Pre-Funding Account 121,796,781.12
Prepayment Interest Shortfalls 0.00
Principal Prepayments 3,347,401.92
Supplemental Interest Payment 0.00
Unpaid Interest Shortfall Amount 0.00
Weighted Average Mortgage Rate 9.29496%
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DELINQUENCY REO
INFORMATION 30-59 DAYS 60-89 DAYS 90 + DAYS FORECLOSURE PROPERTY
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DELINQUENT BALANCE 4,941,228.02 2,532,477.64 0.00 1,787,212.26 43,391.32
NUMBER OF LOANS 33 20 1 11 1
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