Nova Financial & Investment Corporation Mortgage Lending & HMDA Data, 2013
In 2013, Nova Financial & Investment Corporation of Tucson, AZ reported 17,714 mortgage applications totaling $3.4 billion, down 3% from 2012. The average application was for $189,970, and applicants reported an average income of $85,081. 73% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Tucson, AZ (5,831), Phoenix-Mesa-Glendale, AZ (5,819) and Denver-Aurora-Broomfield, CO (2,528) (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 | 17,714 |
| Total Mortgage Loan Application Amount | $3,365,141,000 |
| Average Mortgage Loan Application Amount | $189,970 |
| Highest Mortgage Loan Application Amount | $2,000,000 |
| Average Applicant Income | $85,081 |
| Highest Applicant Income | $2,329,000 |
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Nova Financial & Investment Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2013
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 | 11,179 | $2,074,138,000 | $185,000 | $1,500,000 | $80,000 | $2,329,000 |
| Refinancing | 6,430 | $1,270,933,000 | $197,000 | $2,000,000 | $94,000 | $2,018,000 |
| Home Improvement | 105 | $20,070,000 | $191,000 | $650,000 | $80,000 | $275,000 |
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 | 13,220 | $2,639,463,000 | $199,000 | $2,000,000 | $91,000 | $2,329,000 |
| Hispanic | 3,058 | $456,458,000 | $149,000 | $1,715,000 | $59,000 | $658,000 |
| Asian | 469 | $87,950,000 | $187,000 | $729,000 | $91,000 | $1,062,000 |
| Not Provided | 464 | $91,139,000 | $196,000 | $955,000 | $89,000 | $1,582,000 |
| Black or African American | 386 | $67,252,000 | $174,000 | $622,000 | $67,000 | $375,000 |
| Native Hawaiian or Other Pacific Islander | 73 | $15,060,000 | $206,000 | $663,000 | $93,000 | $477,000 |
| American Indian or Alaskan Native | 44 | $7,819,000 | $177,000 | $388,000 | $68,000 | $153,000 |
| 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) | 10,187 | $2,033,750,000 | $199,000 | $2,000,000 | $104,000 | $2,329,000 |
| FHA-insured (Federal Housing Administration) | 5,202 | $866,679,000 | $166,000 | $868,000 | $58,000 | $444,000 |
| VA-guaranteed (Veterans Administration) | 1,823 | $396,689,000 | $217,000 | $897,000 | $70,000 | $391,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 502 | $68,023,000 | $135,000 | $306,000 | $43,000 | $120,000 |
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 | 12,861 | $2,447,268,000 | $190,000 | $1,715,000 | $85,000 | $2,329,000 |
| Application Withdrawn By Applicant | 2,789 | $533,897,000 | $191,000 | $2,000,000 | $88,000 | $1,582,000 |
| File Closed For Incompleteness | 1,460 | $283,765,000 | $194,000 | $1,693,000 | $86,000 | $1,340,000 |
| Application Denied By Financial Institution | 604 | $100,211,000 | $165,000 | $912,000 | $69,000 | $1,062,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 215 | $32,320,000 | $150,000 | $471,000 | $71,000 | $1,062,000 |
| Credit History | 95 | $16,099,000 | $169,000 | $655,000 | $68,000 | $228,000 |
| Employment History | 85 | $15,156,000 | $178,000 | $600,000 | $57,000 | $225,000 |
| Debt-To-Income Ratio | 76 | $13,426,000 | $176,000 | $912,000 | $53,000 | $188,000 |
| Collateral | 68 | $11,188,000 | $164,000 | $625,000 | $86,000 | $475,000 |
| Unverifiable Information | 25 | $5,576,000 | $223,000 | $820,000 | $73,000 | $180,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 11 | $1,551,000 | $141,000 | $250,000 | $41,000 | $86,000 |
| Credit Application Incomplete | 3 | $551,000 | $183,000 | $270,000 | $43,000 | $52,000 |
| Mortgage Insurance Denied | 1 | $111,000 | $111,000 | $111,000 | $1,062,000 | $1,062,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Nova Financial & Investment Corporation's 2013 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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