Nova Financial & Investment Corporation Mortgage Lending & HMDA Data, 2021
In 2021, Nova Financial & Investment Corporation of Tucson, AZ reported 34,732 mortgage applications totaling $9.5 billion, down 14% from 2020. The average application was for $274,831, and applicants reported an average income of $105,562. 69% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Tucson, AZ (10,913), Phoenix-Mesa-Scottsdale, AZ (10,439) and Denver-Aurora-Lakewood, CO (2,820) (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 | 34,732 |
| Total Mortgage Loan Application Amount | $9,545,440,000 |
| Average Mortgage Loan Application Amount | $274,831 |
| Highest Mortgage Loan Application Amount | $2,905,000 |
| Average Applicant Income | $105,562 |
| Highest Applicant Income | $6,307,000 |
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Nova Financial & Investment Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2021
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 | 14,566 | $4,409,970,000 | $302,000 | $2,905,000 | $103,000 | $6,307,000 |
| Refinancing | 11,757 | $2,979,225,000 | $253,000 | $2,865,000 | $112,000 | $5,119,000 |
| Cash-out Refinancing | 8,409 | $2,156,245,000 | $256,000 | $1,805,000 | $101,000 | $3,025,000 |
| 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 | 20,509 | $6,025,265,000 | $293,000 | $2,885,000 | $116,000 | $5,119,000 |
| Hispanic | 9,700 | $2,170,180,000 | $223,000 | $2,565,000 | $77,000 | $2,880,000 |
| Not Provided | 2,432 | $743,690,000 | $305,000 | $2,475,000 | $118,000 | $6,307,000 |
| Asian | 951 | $279,215,000 | $293,000 | $2,605,000 | $123,000 | $1,503,000 |
| Black or African American | 894 | $258,450,000 | $289,000 | $1,325,000 | $109,000 | $4,887,000 |
| American Indian or Alaskan Native | 171 | $46,475,000 | $271,000 | $2,905,000 | $106,000 | $1,271,000 |
| Native Hawaiian or Other Pacific Islander | 75 | $22,165,000 | $295,000 | $1,055,000 | $103,000 | $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) | 26,581 | $7,369,915,000 | $277,000 | $2,905,000 | $114,000 | $6,307,000 |
| FHA-insured (Federal Housing Administration) | 4,979 | $1,170,625,000 | $235,000 | $725,000 | $66,000 | $1,540,000 |
| VA-guaranteed (Veterans Administration) | 2,933 | $959,925,000 | $327,000 | $2,885,000 | $95,000 | $1,228,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 239 | $44,975,000 | $188,000 | $385,000 | $52,000 | $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 | 24,138 | $6,718,940,000 | $278,000 | $2,705,000 | $106,000 | $2,502,000 |
| Application Withdrawn By Applicant | 4,743 | $1,296,685,000 | $273,000 | $2,885,000 | $107,000 | $3,025,000 |
| File Closed For Incompleteness | 4,442 | $1,174,110,000 | $264,000 | $2,905,000 | $101,000 | $6,307,000 |
| Application Denied By Financial Institution | 1,199 | $294,065,000 | $245,000 | $1,825,000 | $89,000 | $4,887,000 |
| Application Approved But Not Accepted | 210 | $61,640,000 | $293,000 | $2,355,000 | $102,000 | $693,000 |
| 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 | 33,533 | $9,251,375,000 | $275,000 | $2,905,000 | $106,000 | $6,307,000 |
| Credit History | 303 | $68,825,000 | $227,000 | $855,000 | $97,000 | $1,228,000 |
| Debt-To-Income Ratio | 230 | $58,460,000 | $254,000 | $1,355,000 | $68,000 | $454,000 |
| Employment History | 228 | $61,910,000 | $271,000 | $1,825,000 | $84,000 | $828,000 |
| Collateral | 190 | $44,130,000 | $232,000 | $1,605,000 | $87,000 | $775,000 |
| Other | 155 | $37,565,000 | $242,000 | $1,325,000 | $117,000 | $4,887,000 |
| Unverifiable Information | 80 | $20,840,000 | $260,000 | $1,035,000 | $94,000 | $525,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 13 | $2,335,000 | $179,000 | $365,000 | $51,000 | $106,000 |
| 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 2021 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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