Nova Financial & Investment Corporation Mortgage Lending & HMDA Data, 2006
In 2006, Nova Financial & Investment Corporation of Tucson, AZ reported 2,648 mortgage applications totaling $512.2 million, down 57% from 2005. The average application was for $193,417, and applicants reported an average income of $108,524. 93% of its applications resulted in an originated loan and 0% were denied. Its largest markets were Tucson, AZ (2,068), Phoenix-Mesa-Scottsdale, AZ (254) and Yuma, AZ (152) (applications in parentheses).
| Mortgage Company & Address | Nova Financial & Investment Corporation 6245 E. Broadway Blvd., Suite 400 Tucson, AZ 85711 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 |
| Total Number of Mortgage Applications | 2,648 |
| Total Mortgage Loan Application Amount | $512,169,000 |
| Average Mortgage Loan Application Amount | $193,417 |
| Highest Mortgage Loan Application Amount | $1,500,000 |
| Average Applicant Income | $108,524 |
| Highest Applicant Income | $1,500,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Nova Financial & Investment Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
Mortgage Loan Application Detail Totals for Nova Financial & Investment Corporation in 2006
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 1,467 | $271,345,000 | $184,000 | $1,000,000 | $105,000 | $1,211,000 |
| Refinancing | 1,177 | $240,750,000 | $204,000 | $1,500,000 | $113,000 | $1,500,000 |
| Home Improvement | 4 | $74,000 | $18,000 | $50,000 | $84,000 | $211,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 2,082 | $414,690,000 | $199,000 | $1,500,000 | $117,000 | $1,500,000 |
| Hispanic | 378 | $58,949,000 | $155,000 | $708,000 | $73,000 | $491,000 |
| Not Provided | 115 | $25,460,000 | $221,000 | $977,000 | $98,000 | $552,000 |
| Black or African American | 44 | $7,896,000 | $179,000 | $397,000 | $79,000 | $288,000 |
| Asian | 26 | $4,705,000 | $180,000 | $679,000 | $91,000 | $420,000 |
| American Indian or Alaskan Native | 2 | $387,000 | $193,000 | $227,000 | $68,000 | $96,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $82,000 | $82,000 | $82,000 | $21,000 | $21,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 2,481 | $482,281,000 | $194,000 | $1,500,000 | $112,000 | $1,500,000 |
| FHA-insured (Federal Housing Administration) | 97 | $14,274,000 | $147,000 | $248,000 | $58,000 | $164,000 |
| VA-guaranteed (Veterans Administration) | 70 | $15,614,000 | $223,000 | $369,000 | $66,000 | $138,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 2,465 | $477,467,000 | $193,000 | $1,150,000 | $108,000 | $1,211,000 |
| Application Withdrawn By Applicant | 144 | $26,566,000 | $184,000 | $1,150,000 | $123,000 | $1,500,000 |
| Application Approved But Not Accepted | 31 | $6,877,000 | $221,000 | $1,500,000 | $88,000 | $334,000 |
| File Closed For Incompleteness | 5 | $740,000 | $148,000 | $290,000 | $54,000 | $98,000 |
| Application Denied By Financial Institution | 3 | $519,000 | $173,000 | $207,000 | $49,000 | $73,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 1 | $196,000 | $196,000 | $196,000 | $73,000 | $73,000 |
| Other | 1 | $207,000 | $207,000 | $207,000 | $51,000 | $51,000 |
| Unverifiable Information | 1 | $116,000 | $116,000 | $116,000 | $25,000 | $25,000 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Nova Financial & Investment Corporation's 2006 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Nova Financial & Investment Corporation's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
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