Nve Bank Mortgage Rates, Fees & Info

Englewood, NJ

LEI: 5493004XOOZ30KRVGC40

Tax ID: 22-0892830

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Bank Data

Review & Overview

Nve Bank is a smaller bank specializing in Refi loans. Nve Bank has a high proportion of conventional loans. Their top two markets are New York and Allentown .

Nve Bank has an above 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

132

Origination Dollar Volume (All Markets)

$31,960,000

Employee count

61

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) 131 $31,815,000 $242,863 $0 0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Nve Bank's top markets include New York and Allentown 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 132 $31,960,000 $242,121 $0 0.00%

    For 2021, Nve Bank's most frequently originated type of loan was Conventional, with 132 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 89 $21,155,000 $237,697 $0 0.00%
    Home Purchase 14 $4,200,000 $300,000 $0 0.00%
    Home Improvement 14 $1,460,000 $104,286 $0 0.00%
    Other 11 $1,115,000 $101,364 $0 0.00%
    Cash Out Refi 4 $4,030,000 $1,007,500 $0 0.00%

    For 2021, Nve Bank's most frequently cited loan purpose was Refi, with 89 originations. The 2nd most popular reason was Home Purchase, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 132 $31,960,000 $242,121 $0 0.00%

    For 2021, Nve Bank's most frequently cited loan duration was Other, with 132 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 45 $6,735,000 $149,667 $0 0.00%
    $200k-400k 43 $11,985,000 $278,721 $0 0.00%
    $100,000 or less 26 $1,510,000 $58,077 $0 0.00%
    $400k-600k 11 $5,415,000 $492,273 $0 0.00%
    $600k-1MM 5 $3,635,000 $727,000 $0 0.00%
    $1MM+ 2 $2,680,000 $1,340,000 $0 0.00%

    2021 saw Nve Bank place emphasis on $100k-200k loans with 45 originations, totaling $6,735,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 38 $7,440,000 $195,789 $0 0.00%
    $100k-150k 32 $7,000,000 $218,750 $0 0.00%
    $250k+ 25 $8,885,000 $355,400 $0 0.00%
    $75k-100k 15 $2,375,000 $158,333 $0 0.00%
    $50k-75k 11 $1,625,000 $147,727 $0 0.00%
    $50k or less 5 $405,000 $81,000 $0 0.00%

    Nve Bank lent most frequently to those with incomes in the $150k-250k range, with 38 originations. The second most popular income band? $100k-150k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 132 $31,960,000 $242,121 $0 0.00%

    Nve Bank lent most frequently to those with DTI ratios of Exempt%, with 132 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 89 $19,165,000 $215,337 $0 0.00%
    Not applicable 4 $4,030,000 $1,007,500 $0 0.00%
    Not provided 15 $3,855,000 $257,000 $0 0.00%
    Asian 16 $3,430,000 $214,375 $0 0.00%
    Black 7 $925,000 $132,143 $0 0.00%
    Korean 1 $555,000 $555,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.17%

    Nve Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.21%

    Nve Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 132 $31,960,000 $242,121

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    132 $31,960,000 $242,121

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    NOVA Financial Holding Company, LLC Conventional home mortgage Closing on a mortgage 1 33.3%
    NOVA Financial Holding Company, LLC FHA mortgage Closing on a mortgage 1 33.3%
    NOVA Financial Holding Company, LLC Other type of mortgage Closing on a 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 $45,439
    Nve Bank 1505 Teaneck Road Teaneck, NJ 7666 Full Service B&M $24,093
    Nve Bank 159 Broadway Hillsdale, NJ 7642 Full Service B&M $34,376
    Nve Bank 175 Homans Avenue Closter, NJ 7624 Full Service B&M $52,915
    Nve Bank 189 County Road Cresskill, NJ 7626 Full Service B&M $71,711
    Nve Bank 310 Broad Avenue Leonia, NJ 7605 Full Service B&M $30,446
    Nve Bank 400 River Road New Milford, NJ 7646 Full Service B&M $60,922
    Nve Bank 42 W. Hudson Avenue Englewood, NJ 7631 Full Service B&M $20,376
    Nve Bank 70-76 Engle Street Englewood, NJ 7631 Full Service B&M $102,034
    Nve Bank 740 Palisade Avenue Teaneck, NJ 7666 Full Service B&M $23,990
    Nve Bank 80 County Road Tenafly, NJ 7670 Full Service B&M $48,170

    For 2021, Nve Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $19,373
    Net interest income $16,440
    Total noninterest income $1,476
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $315
    Trading account gains and fees $0
    Additional Noninterest Income $1,161
    Pre-tax net operating income $5,339
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,936
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,936
    Minority interest net income $0
    Net income $3,936
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,936

    Nve Bank's gross interest income from loans was $19,373,000.
    Nve Bank's net interest income from loans was $16,440,000.
    Nve Bank's fee based income from loans was $315,000.
    Nve Bank's net income from loans was $3,936,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,933
    Provision for credit losses $-323
    Total noninterest expense $12,900
    Salaries and employee benefits $7,566
    Premises and equipment expense $1,389
    Additional noninterest expense $3,945
    Applicable income taxes $1,403
    Net charge-offs $6
    Cash dividends $0

    Nve Bank's interest expense for loans was $2,933,000.
    Nve Bank's payroll and benefits expense were $7,566,000.
    Nve Bank's property, plant and equipment expenses $1,389,000.

    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 3.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    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 $511,837
    Deposits held in domestic offices $511,837
    Deposits by Individuals, partnerships, and corporations $481,390
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $30,259
    Deposits by Commercial banks and other depository institutions in U.S. $185
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $201,416
    Demand deposits $143,118
    Nontransaction accounts $310,421
    Money market deposit accounts (MMDAs) $56,259
    Other savings deposits (excluding MMDAs) $162,268
    Total time deposits $91,895
    Total time and savings deposits $368,719
    Noninterest-bearing deposits $143,118
    Interest-bearing deposits $368,719
    Retail deposits $505,175
    IRAs and Keogh plan accounts $29,779
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $715,808
    Cash & Balances due from depository institutions $116,190
    Interest-bearing balances $114,429
    Total securities $159,311
    Federal funds sold & reverse repurchase $0
    Net loans and leases $400,975
    Loan and leases loss allowance $1,438
    Trading account assets $0
    Bank premises and fixed assets $6,309
    Other real estate owned $0
    Goodwill and other intangibles $3
    All other assets $33,020

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $715,808
    Total Liabilities $598,368
    Total deposits $511,837
    Interest-bearing deposits $368,719
    Deposits held in domestic offices $511,837
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $72,928
    Subordinated debt $0
    All other liabilities $13,603

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $400,975
    Loan and leases loss allowance $1,438
    Total loans and leases (domestic) $402,413
    All real estate loans $399,749
    Real estate loans in domestic offices $399,749
    Construction and development loans $6,054
    Residential 1-4 family construction $0
    Other construction, all land development and other land $6,054
    Loans secured by nonfarm nonresidential properties $152,597
    Nonfarm nonresidential secured by owner-occupied properties $15,015
    Commercial real estate & other non-farm, non-residential $137,582
    Multifamily residential real estate $48,061
    1-4 family residential loans $193,037
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $2,436
    To non-U.S. addressees $0
    Loans to individuals $196
    Credit card loans $0
    Related Plans $184
    Consumer Auto Loans $12
    Other loans to individuals $0
    All other loans & leases $32
    Loans to foreign governments and official institutions $0
    Other loans $32
    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 $400,975,000 of loans outstanding in 2021. $399,749,000 of loans were in real estate loans. $6,054,000 of loans were in development loans. $48,061,000 of loans were in multifamily mortgage loans. $193,037,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $12,000 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 105 $34,622 $329,733
    Nonfarm, nonresidential loans - <$100k 31 $52 $1,677
    Nonfarm, nonresidential loans - $100-250k 7 $817 $116,714
    Nonfarm, nonresidential loans - $250k-1MM 67 $33,753 $503,776
    Commercial & Industrial, US addressed loans - <$1MM 159 $2,436 $15,321
    Commercial & Industrial, US addressed loans - <$100k 151 $857 $5,675
    Commercial & Industrial, US addressed loans - $100-250k 3 $355 $118,333
    Commercial & Industrial, US addressed loans - $250k-1MM 5 $1,224 $244,800