Nova Financial & Investment Corporation Mortgage Lending & HMDA Data, 2012
In 2012, Nova Financial & Investment Corporation of Tucson, AZ reported 18,297 mortgage applications totaling $3.4 billion, up 101% from 2011. The average application was for $186,541, and applicants reported an average income of $86,068. 71% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Tucson, AZ (6,996), Phoenix-Mesa-Glendale, AZ (5,056) and Denver-Aurora-Broomfield, CO (2,521) (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 | 18,297 |
| Total Mortgage Loan Application Amount | $3,413,152,000 |
| Average Mortgage Loan Application Amount | $186,541 |
| Highest Mortgage Loan Application Amount | $1,700,000 |
| Average Applicant Income | $86,068 |
| Highest Applicant Income | $2,406,000 |
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Nova Financial & Investment Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2012
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 |
|---|---|---|---|---|---|---|
| Refinancing | 9,199 | $1,886,769,000 | $205,000 | $1,700,000 | $92,000 | $2,406,000 |
| Home Purchase | 9,044 | $1,516,331,000 | $167,000 | $1,400,000 | $80,000 | $1,375,000 |
| Home Improvement | 54 | $10,052,000 | $186,000 | $700,000 | $92,000 | $325,000 |
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 | 14,243 | $2,781,678,000 | $195,000 | $1,700,000 | $92,000 | $2,406,000 |
| Hispanic | 2,843 | $415,194,000 | $146,000 | $638,000 | $58,000 | $1,259,000 |
| Asian | 482 | $88,710,000 | $184,000 | $990,000 | $105,000 | $1,375,000 |
| Black or African American | 377 | $67,193,000 | $178,000 | $630,000 | $67,000 | $569,000 |
| Not Provided | 198 | $33,662,000 | $170,000 | $417,000 | $76,000 | $845,000 |
| Native Hawaiian or Other Pacific Islander | 106 | $18,793,000 | $177,000 | $417,000 | $85,000 | $476,000 |
| American Indian or Alaskan Native | 48 | $7,922,000 | $165,000 | $365,000 | $76,000 | $229,000 |
| 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) | 10,701 | $2,148,920,000 | $200,000 | $1,700,000 | $109,000 | $2,406,000 |
| FHA-insured (Federal Housing Administration) | 5,348 | $843,917,000 | $157,000 | $682,000 | $54,000 | $1,330,000 |
| VA-guaranteed (Veterans Administration) | 1,718 | $350,001,000 | $203,000 | $850,000 | $58,000 | $429,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 530 | $70,314,000 | $132,000 | $366,000 | $43,000 | $114,000 |
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 | 12,916 | $2,410,577,000 | $186,000 | $1,500,000 | $86,000 | $2,406,000 |
| Application Withdrawn By Applicant | 3,274 | $615,995,000 | $188,000 | $1,700,000 | $87,000 | $1,375,000 |
| File Closed For Incompleteness | 1,454 | $273,704,000 | $188,000 | $1,400,000 | $87,000 | $1,296,000 |
| Application Denied By Financial Institution | 652 | $112,714,000 | $172,000 | $1,393,000 | $80,000 | $1,259,000 |
| Application Approved But Not Accepted | 1 | $162,000 | $162,000 | $162,000 | $19,000 | $19,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 202 | $34,833,000 | $172,000 | $1,393,000 | $99,000 | $993,000 |
| Credit History | 174 | $29,740,000 | $170,000 | $630,000 | $65,000 | $720,000 |
| Collateral | 116 | $20,928,000 | $180,000 | $932,000 | $90,000 | $1,259,000 |
| Debt-To-Income Ratio | 74 | $13,685,000 | $184,000 | $1,200,000 | $71,000 | $524,000 |
| Employment History | 57 | $8,759,000 | $153,000 | $333,000 | $63,000 | $244,000 |
| Unverifiable Information | 22 | $3,663,000 | $166,000 | $321,000 | $52,000 | $137,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $316,000 | $105,000 | $122,000 | $43,000 | $61,000 |
| Mortgage Insurance Denied | 3 | $653,000 | $217,000 | $248,000 | $87,000 | $105,000 |
| Credit Application Incomplete | 1 | $137,000 | $137,000 | $137,000 | $36,000 | $36,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Nova Financial & Investment Corporation's 2012 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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