Nova Financial & Investment Corporation Mortgage Lending & HMDA Data, 2018
In 2018, Nova Financial & Investment Corporation of Tucson, AZ reported 19,535 mortgage applications totaling $4.4 billion, down 4% from 2017. The average application was for $224,656, and applicants reported an average income of $89,270. 59% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Tucson, AZ (5,709), Phoenix-Mesa-Scottsdale, AZ (4,555) and Denver-Aurora-Lakewood, CO (2,436) (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 | 19,535 |
| Total Mortgage Loan Application Amount | $4,388,665,000 |
| Average Mortgage Loan Application Amount | $224,656 |
| Highest Mortgage Loan Application Amount | $10,005,000 |
| Average Applicant Income | $89,270 |
| Highest Applicant Income | $4,620,000 |
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Nova Financial & Investment Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2018
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 | 15,624 | $3,528,440,000 | $225,000 | $10,005,000 | $89,000 | $4,620,000 |
| Cash-out Refinancing | 2,268 | $504,290,000 | $222,000 | $2,505,000 | $94,000 | $3,990,000 |
| Refinancing | 1,383 | $296,755,000 | $214,000 | $1,505,000 | $85,000 | $900,000 |
| Home Improvement | 260 | $59,180,000 | $227,000 | $665,000 | $87,000 | $535,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 12,362 | $2,990,030,000 | $241,000 | $2,505,000 | $98,000 | $3,990,000 |
| Hispanic | 5,232 | $934,650,000 | $178,000 | $995,000 | $64,000 | $907,000 |
| Black or African American | 660 | $159,180,000 | $241,000 | $10,005,000 | $91,000 | $4,620,000 |
| Not Provided | 550 | $125,460,000 | $228,000 | $1,005,000 | $103,000 | $1,272,000 |
| Asian | 506 | $130,310,000 | $257,000 | $1,605,000 | $107,000 | $1,716,000 |
| American Indian or Alaskan Native | 113 | $23,435,000 | $207,000 | $505,000 | $94,000 | $1,312,000 |
| Native Hawaiian or Other Pacific Islander | 42 | $10,090,000 | $240,000 | $595,000 | $105,000 | $442,000 |
| 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) | 11,877 | $2,799,765,000 | $235,000 | $10,005,000 | $102,000 | $1,716,000 |
| FHA-insured (Federal Housing Administration) | 5,145 | $963,535,000 | $187,000 | $805,000 | $63,000 | $4,620,000 |
| VA-guaranteed (Veterans Administration) | 2,199 | $577,195,000 | $262,000 | $2,065,000 | $87,000 | $3,990,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 314 | $48,170,000 | $153,000 | $415,000 | $50,000 | $105,000 |
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 | 11,545 | $2,589,755,000 | $224,000 | $1,925,000 | $89,000 | $1,703,000 |
| File Closed For Incompleteness | 3,942 | $882,450,000 | $223,000 | $2,505,000 | $88,000 | $3,990,000 |
| Application Withdrawn By Applicant | 3,161 | $740,555,000 | $234,000 | $10,005,000 | $94,000 | $4,620,000 |
| Application Denied By Financial Institution | 886 | $175,600,000 | $198,000 | $1,505,000 | $79,000 | $1,344,000 |
| Application Approved But Not Accepted | 1 | $305,000 | $305,000 | $305,000 | $108,000 | $108,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 18,649 | $4,213,065,000 | $225,000 | $10,005,000 | $90,000 | $4,620,000 |
| Credit History | 316 | $60,580,000 | $191,000 | $1,205,000 | $91,000 | $1,344,000 |
| Collateral | 160 | $30,750,000 | $192,000 | $1,125,000 | $92,000 | $924,000 |
| Employment History | 144 | $29,850,000 | $207,000 | $955,000 | $57,000 | $314,000 |
| Other | 114 | $25,210,000 | $221,000 | $1,505,000 | $85,000 | $600,000 |
| Debt-To-Income Ratio | 111 | $21,945,000 | $197,000 | $715,000 | $53,000 | $210,000 |
| Unverifiable Information | 37 | $6,595,000 | $178,000 | $355,000 | $65,000 | $164,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $555,000 | $185,000 | $255,000 | $60,000 | $79,000 |
| Credit Application Incomplete | 1 | $115,000 | $115,000 | $115,000 | $73,000 | $73,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Nova Financial & Investment Corporation's 2018 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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