Nova Financial & Investment Corporation Mortgage Lending & HMDA Data, 2019
In 2019, Nova Financial & Investment Corporation of Tucson, AZ reported 23,001 mortgage applications totaling $5.6 billion, up 18% from 2018. The average application was for $245,085, and applicants reported an average income of $91,911. 67% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Tucson, AZ (6,822), Phoenix-Mesa-Scottsdale, AZ (6,180) and Denver-Aurora-Lakewood, CO (2,764) (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 | 23,001 |
| Total Mortgage Loan Application Amount | $5,637,205,000 |
| Average Mortgage Loan Application Amount | $245,085 |
| Highest Mortgage Loan Application Amount | $5,495,000 |
| Average Applicant Income | $91,911 |
| Highest Applicant Income | $6,000,000 |
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Nova Financial & Investment Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2019
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 | 14,302 | $3,432,240,000 | $239,000 | $5,495,000 | $91,000 | $6,000,000 |
| Refinancing | 5,127 | $1,370,395,000 | $267,000 | $2,315,000 | $93,000 | $2,335,000 |
| Cash-out Refinancing | 3,363 | $783,305,000 | $232,000 | $1,345,000 | $94,000 | $1,224,000 |
| Home Improvement | 209 | $51,265,000 | $245,000 | $745,000 | $94,000 | $531,000 |
| 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 | 14,520 | $3,853,170,000 | $265,000 | $2,425,000 | $102,000 | $2,568,000 |
| Hispanic | 5,995 | $1,144,815,000 | $190,000 | $1,505,000 | $68,000 | $6,000,000 |
| Not Provided | 1,016 | $267,920,000 | $263,000 | $5,495,000 | $100,000 | $2,040,000 |
| Black or African American | 715 | $174,455,000 | $243,000 | $1,345,000 | $78,000 | $1,140,000 |
| Asian | 510 | $136,770,000 | $268,000 | $1,205,000 | $102,000 | $656,000 |
| American Indian or Alaskan Native | 129 | $29,935,000 | $232,000 | $795,000 | $88,000 | $352,000 |
| Native Hawaiian or Other Pacific Islander | 67 | $16,735,000 | $249,000 | $885,000 | $105,000 | $258,000 |
| 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) | 14,984 | $3,878,440,000 | $258,000 | $5,495,000 | $108,000 | $6,000,000 |
| FHA-insured (Federal Housing Administration) | 5,165 | $1,021,935,000 | $197,000 | $695,000 | $59,000 | $810,000 |
| VA-guaranteed (Veterans Administration) | 2,631 | $699,685,000 | $265,000 | $1,435,000 | $67,000 | $468,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 221 | $37,145,000 | $168,000 | $435,000 | $53,000 | $118,000 |
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 | 15,372 | $3,845,710,000 | $250,000 | $2,425,000 | $93,000 | $6,000,000 |
| File Closed For Incompleteness | 3,627 | $845,555,000 | $233,000 | $2,315,000 | $87,000 | $2,280,000 |
| Application Withdrawn By Applicant | 2,934 | $728,260,000 | $248,000 | $5,495,000 | $98,000 | $2,568,000 |
| Application Denied By Financial Institution | 1,061 | $216,465,000 | $204,000 | $1,345,000 | $79,000 | $1,260,000 |
| Application Approved But Not Accepted | 7 | $1,215,000 | $173,000 | $285,000 | $62,000 | $136,000 |
| 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 | 21,940 | $5,420,740,000 | $247,000 | $5,495,000 | $93,000 | $6,000,000 |
| Credit History | 324 | $62,610,000 | $193,000 | $1,345,000 | $74,000 | $836,000 |
| Collateral | 190 | $37,970,000 | $199,000 | $905,000 | $98,000 | $1,260,000 |
| Debt-To-Income Ratio | 174 | $34,000,000 | $195,000 | $725,000 | $62,000 | $656,000 |
| Employment History | 162 | $35,260,000 | $217,000 | $1,045,000 | $56,000 | $394,000 |
| Other | 146 | $29,210,000 | $200,000 | $965,000 | $92,000 | $1,036,000 |
| Unverifiable Information | 53 | $15,015,000 | $283,000 | $1,115,000 | $122,000 | $1,260,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 12 | $2,400,000 | $200,000 | $335,000 | $74,000 | $162,000 |
| Mortgage Insurance Denied | 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 2019 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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