Nova Financial & Investment Corporation Mortgage Lending & HMDA Data, 2014
In 2014, Nova Financial & Investment Corporation of Tucson, AZ reported 14,670 mortgage applications totaling $2.9 billion, down 17% from 2013. The average application was for $195,946, and applicants reported an average income of $84,706. 70% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (5,584), Tucson, AZ (4,123) and Denver-Aurora-Lakewood, CO (2,248) (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 | 14,670 |
| Total Mortgage Loan Application Amount | $2,874,537,000 |
| Average Mortgage Loan Application Amount | $195,946 |
| Highest Mortgage Loan Application Amount | $2,150,000 |
| Average Applicant Income | $84,706 |
| Highest Applicant Income | $2,430,000 |
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Nova Financial & Investment Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2014
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 | 11,173 | $2,148,081,000 | $192,000 | $1,470,000 | $82,000 | $2,430,000 |
| Refinancing | 3,385 | $702,229,000 | $207,000 | $2,150,000 | $93,000 | $2,196,000 |
| Home Improvement | 112 | $24,227,000 | $216,000 | $687,000 | $104,000 | $508,000 |
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 | 10,384 | $2,161,578,000 | $208,000 | $2,000,000 | $93,000 | $2,430,000 |
| Hispanic | 2,946 | $446,884,000 | $151,000 | $1,429,000 | $59,000 | $728,000 |
| Not Provided | 494 | $99,623,000 | $201,000 | $2,150,000 | $76,000 | $1,115,000 |
| Black or African American | 407 | $77,717,000 | $190,000 | $700,000 | $74,000 | $397,000 |
| Asian | 342 | $70,166,000 | $205,000 | $1,087,000 | $99,000 | $494,000 |
| Native Hawaiian or Other Pacific Islander | 61 | $12,530,000 | $205,000 | $480,000 | $81,000 | $450,000 |
| American Indian or Alaskan Native | 36 | $6,039,000 | $167,000 | $413,000 | $62,000 | $179,000 |
| 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) | 7,986 | $1,669,068,000 | $208,000 | $2,150,000 | $103,000 | $2,430,000 |
| FHA-insured (Federal Housing Administration) | 4,513 | $746,979,000 | $165,000 | $636,000 | $59,000 | $401,000 |
| VA-guaranteed (Veterans Administration) | 1,686 | $388,024,000 | $230,000 | $839,000 | $78,000 | $424,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 485 | $70,466,000 | $145,000 | $321,000 | $47,000 | $102,000 |
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 | 10,287 | $2,016,789,000 | $196,000 | $2,000,000 | $85,000 | $2,430,000 |
| Application Withdrawn By Applicant | 2,868 | $574,076,000 | $200,000 | $2,150,000 | $87,000 | $2,196,000 |
| File Closed For Incompleteness | 971 | $189,685,000 | $195,000 | $1,087,000 | $85,000 | $579,000 |
| Application Denied By Financial Institution | 544 | $93,987,000 | $172,000 | $850,000 | $65,000 | $821,000 |
| 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 | 232 | $38,179,000 | $164,000 | $585,000 | $62,000 | $265,000 |
| Employment History | 86 | $16,733,000 | $194,000 | $850,000 | $61,000 | $546,000 |
| Credit History | 82 | $13,663,000 | $166,000 | $376,000 | $67,000 | $203,000 |
| Collateral | 61 | $10,765,000 | $176,000 | $625,000 | $85,000 | $821,000 |
| Debt-To-Income Ratio | 44 | $7,515,000 | $170,000 | $399,000 | $54,000 | $150,000 |
| Unverifiable Information | 38 | $6,893,000 | $181,000 | $480,000 | $65,000 | $223,000 |
| Mortgage Insurance Denied | 1 | $239,000 | $239,000 | $239,000 | $88,000 | $88,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Nova Financial & Investment Corporation's 2014 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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