Nova Financial & Investment Corporation Mortgage Lending & HMDA Data, 2020
In 2020, Nova Financial & Investment Corporation of Tucson, AZ reported 40,245 mortgage applications totaling $10.5 billion, up 75% from 2019. The average application was for $261,014, and applicants reported an average income of $100,825. 74% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Tucson, AZ (12,806), Phoenix-Mesa-Scottsdale, AZ (12,490) and Denver-Aurora-Lakewood, CO (4,941) (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 | 40,245 |
| Total Mortgage Loan Application Amount | $10,504,515,000 |
| Average Mortgage Loan Application Amount | $261,014 |
| Highest Mortgage Loan Application Amount | $3,085,000 |
| Average Applicant Income | $100,825 |
| Highest Applicant Income | $6,600,000 |
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Nova Financial & Investment Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2020
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 |
|---|---|---|---|---|---|---|
| Refinancing | 18,530 | $4,823,360,000 | $260,000 | $3,085,000 | $102,000 | $4,200,000 |
| Home Purchase | 15,116 | $4,057,580,000 | $268,000 | $2,305,000 | $98,000 | $6,600,000 |
| Cash-out Refinancing | 6,599 | $1,623,575,000 | $246,000 | $1,955,000 | $104,000 | $2,100,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 25,951 | $7,163,575,000 | $276,000 | $2,305,000 | $110,000 | $4,200,000 |
| Hispanic | 9,508 | $2,019,750,000 | $212,000 | $3,085,000 | $73,000 | $1,840,000 |
| Not Provided | 2,544 | $704,920,000 | $277,000 | $1,785,000 | $111,000 | $6,600,000 |
| Asian | 956 | $274,970,000 | $287,000 | $1,605,000 | $121,000 | $2,234,000 |
| Black or African American | 910 | $236,170,000 | $259,000 | $945,000 | $82,000 | $648,000 |
| American Indian or Alaskan Native | 197 | $49,775,000 | $252,000 | $1,385,000 | $100,000 | $811,000 |
| Native Hawaiian or Other Pacific Islander | 88 | $24,250,000 | $275,000 | $815,000 | $119,000 | $700,000 |
| 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) | 30,167 | $7,997,355,000 | $265,000 | $3,085,000 | $115,000 | $6,600,000 |
| FHA-insured (Federal Housing Administration) | 5,794 | $1,276,760,000 | $220,000 | $745,000 | $60,000 | $1,320,000 |
| VA-guaranteed (Veterans Administration) | 3,992 | $1,179,470,000 | $295,000 | $2,305,000 | $54,000 | $1,194,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 292 | $50,930,000 | $174,000 | $555,000 | $51,000 | $110,000 |
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 | 29,718 | $7,839,320,000 | $263,000 | $2,305,000 | $101,000 | $2,681,000 |
| Application Withdrawn By Applicant | 6,741 | $1,732,595,000 | $257,000 | $3,005,000 | $103,000 | $6,600,000 |
| File Closed For Incompleteness | 2,609 | $659,135,000 | $252,000 | $3,085,000 | $100,000 | $2,700,000 |
| Application Denied By Financial Institution | 1,127 | $261,285,000 | $231,000 | $2,005,000 | $82,000 | $1,500,000 |
| Application Approved But Not Accepted | 50 | $12,180,000 | $243,000 | $525,000 | $97,000 | $368,000 |
| 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 | 39,118 | $10,243,230,000 | $261,000 | $3,085,000 | $101,000 | $6,600,000 |
| Employment History | 273 | $64,985,000 | $238,000 | $745,000 | $76,000 | $463,000 |
| Collateral | 201 | $43,435,000 | $216,000 | $1,335,000 | $94,000 | $1,500,000 |
| Credit History | 195 | $40,895,000 | $209,000 | $1,505,000 | $79,000 | $420,000 |
| Other | 189 | $51,105,000 | $270,000 | $2,005,000 | $98,000 | $1,200,000 |
| Debt-To-Income Ratio | 148 | $32,530,000 | $219,000 | $1,635,000 | $68,000 | $480,000 |
| Unverifiable Information | 81 | $19,245,000 | $237,000 | $715,000 | $82,000 | $400,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 38 | $8,420,000 | $221,000 | $485,000 | $58,000 | $217,000 |
| Mortgage Insurance Denied | 2 | $670,000 | $335,000 | $425,000 | $58,000 | $82,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Nova Financial & Investment Corporation's 2020 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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