Nova Financial & Investment Corporation Mortgage Lending & HMDA Data, 2016
In 2016, Nova Financial & Investment Corporation of Tucson, AZ reported 23,178 mortgage applications totaling $5.0 billion, up 21% from 2015. The average application was for $216,658, and applicants reported an average income of $84,404. 70% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (7,528), Tucson, AZ (6,912) and Denver-Aurora-Lakewood, CO (3,746) (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 | 23,178 |
| Total Mortgage Loan Application Amount | $5,021,719,000 |
| Average Mortgage Loan Application Amount | $216,658 |
| Highest Mortgage Loan Application Amount | $6,065,000 |
| Average Applicant Income | $84,404 |
| Highest Applicant Income | $6,300,000 |
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Nova Financial & Investment Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2016
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 | 15,031 | $3,188,281,000 | $212,000 | $3,000,000 | $85,000 | $6,300,000 |
| Refinancing | 7,836 | $1,767,137,000 | $225,000 | $6,065,000 | $83,000 | $1,250,000 |
| Home Improvement | 311 | $66,301,000 | $213,000 | $1,046,000 | $91,000 | $454,000 |
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 | 15,947 | $3,690,237,000 | $231,000 | $3,000,000 | $92,000 | $4,958,000 |
| Hispanic | 5,000 | $844,224,000 | $168,000 | $1,312,000 | $59,000 | $843,000 |
| Not Provided | 901 | $190,108,000 | $210,000 | $6,065,000 | $106,000 | $6,300,000 |
| Black or African American | 605 | $130,112,000 | $215,000 | $885,000 | $72,000 | $525,000 |
| Asian | 519 | $123,733,000 | $238,000 | $2,460,000 | $94,000 | $1,213,000 |
| Native Hawaiin or Other Pacific Islander | 112 | $24,183,000 | $215,000 | $612,000 | $75,000 | $291,000 |
| American Indian or Alaskan Native | 94 | $19,122,000 | $203,000 | $590,000 | $77,000 | $317,000 |
| 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) | 13,215 | $3,056,315,000 | $231,000 | $6,065,000 | $105,000 | $6,300,000 |
| FHA-insured (Federal Housing Administration) | 7,093 | $1,288,216,000 | $181,000 | $636,000 | $54,000 | $919,000 |
| VA-guaranteed (Veterans Administration) | 2,583 | $635,592,000 | $246,000 | $1,400,000 | $68,000 | $775,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 287 | $41,596,000 | $144,000 | $431,000 | $45,000 | $112,000 |
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 | 16,267 | $3,537,870,000 | $217,000 | $2,460,000 | $83,000 | $4,958,000 |
| Application Withdrawn By Applicant | 4,792 | $1,044,225,000 | $217,000 | $3,000,000 | $90,000 | $6,300,000 |
| File Closed For Incompleteness | 1,241 | $270,507,000 | $217,000 | $1,333,000 | $84,000 | $1,070,000 |
| Application Denied By Financial Institution | 878 | $169,117,000 | $192,000 | $6,065,000 | $81,000 | $3,642,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 262 | $52,089,000 | $198,000 | $6,065,000 | $85,000 | $3,642,000 |
| Other | 259 | $50,198,000 | $193,000 | $1,040,000 | $83,000 | $975,000 |
| Collateral | 120 | $16,317,000 | $135,000 | $417,000 | $86,000 | $1,452,000 |
| Debt-To-Income Ratio | 101 | $21,963,000 | $217,000 | $2,252,000 | $81,000 | $1,002,000 |
| Employment History | 83 | $18,424,000 | $221,000 | $2,800,000 | $59,000 | $480,000 |
| Unverifiable Information | 39 | $7,150,000 | $183,000 | $370,000 | $66,000 | $172,000 |
| Credit Application Incomplete | 12 | $2,612,000 | $217,000 | $459,000 | $74,000 | $191,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $364,000 | $182,000 | $200,000 | $51,000 | $53,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Nova Financial & Investment Corporation's 2016 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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