Nve Bank Mortgage Rates, Fees & Info

Englewood, NJ

LEI: 5493004XOOZ30KRVGC40

Tax ID: 22-0892830

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Nve Bank is a smaller bank specializing in Refi loans. Nve Bank has a high proportion of conventional loans. Their top (well, only) market is New York.

    Nve Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    107

    Origination Dollar Volume (All Markets)

    $31,575,000

    Employee count

    65

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 107 $31,575,000 $295,093 $0 0.00%
    Nve Bank's top markets include and New York among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • New York (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 107 $31,575,000 $295,093 $0 0.00%

    For 2020, Nve Bank's most frequently originated type of loan was Conventional, with 107 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 76 $22,170,000 $291,711 $0 0.00%
    Other 14 $2,960,000 $211,429 $0 0.00%
    Home Purchase 8 $2,110,000 $263,750 $0 0.00%
    Home Improvement 7 $475,000 $67,857 $0 0.00%
    Cash Out Refi 2 $3,860,000 $1,930,000 $0 0.00%

    For 2020, Nve Bank's most frequently cited loan purpose was Refi, with 76 originations. The 2nd most popular reason was Other, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 107 $31,575,000 $295,093 $0 0.00%

    For 2020, Nve Bank's most frequently cited loan duration was Other, with 107 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 39 $11,175,000 $286,538 $0 0.00%
    $100k-200k 24 $3,420,000 $142,500 $0 0.00%
    $100,000 or less 19 $1,295,000 $68,158 $0 0.00%
    $400k-600k 19 $9,055,000 $476,579 $0 0.00%
    $600k-1MM 4 $2,770,000 $692,500 $0 0.00%
    $1MM+ 2 $3,860,000 $1,930,000 $0 0.00%

    2020 saw Nve Bank place emphasis on $200k-400k loans with 39 originations, totaling $11,175,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 37 $10,745,000 $290,405 $0 0.00%
    $100k-150k 27 $4,665,000 $172,778 $0 0.00%
    $250k+ 24 $9,730,000 $405,417 $0 0.00%
    $50k-75k 9 $1,315,000 $146,111 $0 0.00%
    $75k-100k 5 $705,000 $141,000 $0 0.00%
    $50k or less 2 $420,000 $210,000 $0 0.00%

    Nve Bank lent most frequently to those with incomes in the $150k-250k range, with 37 originations. The second most popular income band? $100k-150k, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 107 $31,575,000 $295,093 $0 0.00%

    Nve Bank lent most frequently to those with DTI ratios of Exempt%, with 107 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 79 $21,515,000 $272,342 $0 0.00%
    Not applicable 2 $3,860,000 $1,930,000 $0 0.00%
    Asian 11 $3,385,000 $307,727 $0 0.00%
    Not provided 9 $1,695,000 $188,333 $0 0.00%
    Black 5 $735,000 $147,000 $0 0.00%
    Asian Indian 1 $385,000 $385,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.57%

    Nve Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    48.60%

    Nve Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 107 $31,575,000 $295,093

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $3,860,000 $1,930,000
    Single Family (1-4 Units):Site-Built 105 $27,715,000 $263,952

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    NOVA Financial Holding Company, LLC FHA mortgage Closing on a mortgage 1 33.3%
    NOVA Financial Holding Company, LLC FHA mortgage Trouble during payment process 1 33.3%
    NOVA Financial Holding Company, LLC Other type of mortgage Struggling to pay mortgage 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Nve Bank 135 N. Washington Avenue Bergenfield, NJ 7621 Full Service B&M $44,813
    Nve Bank 1505 Teaneck Road Teaneck, NJ 7666 Full Service B&M $24,147
    Nve Bank 159 Broadway Hillsdale, NJ 7642 Full Service B&M $38,669
    Nve Bank 175 Homans Avenue Closter, NJ 7624 Full Service B&M $50,593
    Nve Bank 189 County Road Cresskill, NJ 7626 Full Service B&M $64,950
    Nve Bank 310 Broad Avenue Leonia, NJ 7605 Full Service B&M $30,692
    Nve Bank 400 River Road New Milford, NJ 7646 Full Service B&M $54,660
    Nve Bank 42 W. Hudson Avenue Englewood, NJ 7631 Full Service B&M $26,706
    Nve Bank 70-76 Engle Street Englewood, NJ 7631 Full Service B&M $93,483
    Nve Bank 740 Palisade Avenue Teaneck, NJ 7666 Full Service B&M $24,647
    Nve Bank 80 County Road Tenafly, NJ 7670 Full Service B&M $50,325

    For 2020, Nve Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,909
    Net interest income $17,560
    Total noninterest income $2,172
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $286
    Trading account gains and fees $0
    Additional Noninterest Income $1,886
    Pre-tax net operating income $5,947
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,510
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,510
    Minority interest net income $0
    Net income $4,510
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,510

    Nve Bank's gross interest income from loans was $21,909,000.
    Nve Bank's net interest income from loans was $17,560,000.
    Nve Bank's fee based income from loans was $286,000.
    Nve Bank's net income from loans was $4,510,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,349
    Provision for credit losses $0
    Total noninterest expense $13,785
    Salaries and employee benefits $8,849
    Premises and equipment expense $1,411
    Additional noninterest expense $3,525
    Applicable income taxes $1,437
    Net charge-offs $3
    Cash dividends $0

    Nve Bank's interest expense for loans was $4,349,000.
    Nve Bank's payroll and benefits expense were $8,849,000.
    Nve Bank's property, plant and equipment expenses $1,411,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $502,308
    Deposits held in domestic offices $502,308
    Deposits by Individuals, partnerships, and corporations $475,111
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $27,049
    Deposits by Commercial banks and other depository institutions in U.S. $147
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $188,913
    Demand deposits $133,796
    Nontransaction accounts $313,395
    Money market deposit accounts (MMDAs) $49,380
    Other savings deposits (excluding MMDAs) $157,748
    Total time deposits $106,265
    Total time and savings deposits $368,512
    Noninterest-bearing deposits $133,797
    Interest-bearing deposits $368,511
    Retail deposits $495,685
    IRAs and Keogh plan accounts $31,801
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $712,414
    Cash & Balances due from depository institutions $140,089
    Interest-bearing balances $136,811
    Total securities $100,065
    Federal funds sold & reverse repurchase $0
    Net loans and leases $433,462
    Loan and leases loss allowance $1,767
    Trading account assets $0
    Bank premises and fixed assets $6,546
    Other real estate owned $0
    Goodwill and other intangibles $6
    All other assets $32,246

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $712,414
    Total Liabilities $597,579
    Total deposits $502,308
    Interest-bearing deposits $368,511
    Deposits held in domestic offices $502,308
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $81,163
    Subordinated debt $0
    All other liabilities $14,108

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $433,462
    Loan and leases loss allowance $1,767
    Total loans and leases (domestic) $435,229
    All real estate loans $420,565
    Real estate loans in domestic offices $420,565
    Construction and development loans $5,562
    Residential 1-4 family construction $0
    Other construction, all land development and other land $5,562
    Loans secured by nonfarm nonresidential properties $149,455
    Nonfarm nonresidential secured by owner-occupied properties $15,531
    Commercial real estate & other non-farm, non-residential $133,924
    Multifamily residential real estate $42,241
    1-4 family residential loans $223,307
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $14,383
    To non-U.S. addressees $0
    Loans to individuals $267
    Credit card loans $0
    Related Plans $221
    Consumer Auto Loans $18
    Other loans to individuals $28
    All other loans & leases $14
    Loans to foreign governments and official institutions $0
    Other loans $14
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    NVE Bank had $433,462,000 of loans outstanding in 2020. $420,565,000 of loans were in real estate loans. $5,562,000 of loans were in development loans. $42,241,000 of loans were in multifamily mortgage loans. $223,307,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $18,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 78 $38,674 $495,821
    Nonfarm, nonresidential loans - <$100k 2 $84 $42,000
    Nonfarm, nonresidential loans - $100-250k 7 $896 $128,000
    Nonfarm, nonresidential loans - $250k-1MM 69 $37,694 $546,290
    Commercial & Industrial, US addressed loans - <$1MM 201 $11,983 $59,617
    Commercial & Industrial, US addressed loans - <$100k 165 $4,168 $25,261
    Commercial & Industrial, US addressed loans - $100-250k 26 $3,712 $142,769
    Commercial & Industrial, US addressed loans - $250k-1MM 10 $4,103 $410,300