Nova Financial & Investment Corporation Mortgage Lending & HMDA Data, 2022
In 2022, Nova Financial & Investment Corporation of Tucson, AZ reported 14,964 mortgage applications totaling $4.6 billion, down 57% from 2021. The average application was for $307,177, and applicants reported an average income of $90,883. 60% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Phoenix-Mesa-Scottsdale, AZ (4,923), Tucson, AZ (4,674) and Yuma, AZ (1,285) (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 | 14,964 |
| Total Mortgage Loan Application Amount | $4,596,600,000 |
| Average Mortgage Loan Application Amount | $307,177 |
| Highest Mortgage Loan Application Amount | $3,005,000 |
| Average Applicant Income | $90,883 |
| Highest Applicant Income | $2,670,000 |
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Nova Financial & Investment Corporation filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2022
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 | 9,502 | $3,169,280,000 | $333,000 | $3,005,000 | $95,000 | $2,160,000 |
| Cash-out Refinancing | 4,010 | $1,072,290,000 | $267,000 | $1,705,000 | $80,000 | $1,710,000 |
| Refinancing | 1,452 | $355,030,000 | $244,000 | $2,385,000 | $94,000 | $2,670,000 |
| 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 | 7,677 | $2,545,205,000 | $331,000 | $3,005,000 | $102,000 | $2,670,000 |
| Hispanic | 4,912 | $1,260,230,000 | $256,000 | $1,765,000 | $70,000 | $2,100,000 |
| Not Provided | 1,400 | $458,500,000 | $327,000 | $2,055,000 | $98,000 | $1,990,000 |
| Black or African American | 460 | $146,060,000 | $317,000 | $1,055,000 | $84,000 | $1,120,000 |
| Asian | 335 | $128,265,000 | $382,000 | $1,885,000 | $132,000 | $1,830,000 |
| American Indian or Alaskan Native | 91 | $26,645,000 | $292,000 | $665,000 | $71,000 | $150,000 |
| Native Hawaiian or Other Pacific Islander | 25 | $7,975,000 | $319,000 | $1,285,000 | $74,000 | $260,000 |
| 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) | 10,170 | $3,170,350,000 | $311,000 | $2,385,000 | $93,000 | $2,670,000 |
| FHA-insured (Federal Housing Administration) | 3,244 | $982,070,000 | $302,000 | $3,005,000 | $86,000 | $2,100,000 |
| VA-guaranteed (Veterans Administration) | 1,451 | $416,235,000 | $286,000 | $1,555,000 | $86,000 | $1,210,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 99 | $27,945,000 | $282,000 | $1,765,000 | $70,000 | $330,000 |
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 | 9,037 | $2,812,905,000 | $311,000 | $2,255,000 | $92,000 | $2,670,000 |
| File Closed For Incompleteness | 2,690 | $793,220,000 | $294,000 | $2,325,000 | $82,000 | $2,100,000 |
| Application Withdrawn By Applicant | 2,160 | $676,930,000 | $313,000 | $3,005,000 | $98,000 | $2,160,000 |
| Application Denied By Financial Institution | 711 | $192,375,000 | $270,000 | $1,705,000 | $81,000 | $2,530,000 |
| Application Approved But Not Accepted | 366 | $121,170,000 | $331,000 | $2,385,000 | $97,000 | $1,290,000 |
| 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 | 14,253 | $4,404,225,000 | $309,000 | $3,005,000 | $91,000 | $2,670,000 |
| Credit History | 167 | $40,845,000 | $244,000 | $1,005,000 | $77,000 | $810,000 |
| Collateral | 152 | $37,250,000 | $245,000 | $905,000 | $86,000 | $1,840,000 |
| Employment History | 146 | $41,110,000 | $281,000 | $1,705,000 | $57,000 | $280,000 |
| Other | 97 | $30,315,000 | $312,000 | $1,085,000 | $126,000 | $2,530,000 |
| Debt-To-Income Ratio | 71 | $20,695,000 | $291,000 | $1,525,000 | $65,000 | $890,000 |
| Unverifiable Information | 54 | $15,210,000 | $281,000 | $1,285,000 | $82,000 | $490,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 24 | $6,950,000 | $289,000 | $825,000 | $85,000 | $320,000 |
| 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 2022 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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