The Cit Group/Consumer Finance Mortgage Lending & HMDA Data, 2003
In 2003, The Cit Group/Consumer Finance of Livingston, NJ reported 1,238 mortgage applications totaling $212.8 million. The average application was for $171,905, and applicants reported an average income of $96,545. 16% of its applications resulted in an originated loan and 29% were denied. Its largest markets were New York, NY (559), Nassau-Suffolk, NY (299) and Albany-Schenectady-Troy, NY (103) (applications in parentheses).
| Mortgage Company & Address | The Cit Group/Consumer Finance 650 Cit Drive Livingston, NJ 07039 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 1,238 |
| Total Mortgage Loan Application Amount | $212,819,000 |
| Average Mortgage Loan Application Amount | $171,905 |
| Highest Mortgage Loan Application Amount | $980,000 |
| Average Applicant Income | $96,545 |
| Highest Applicant Income | $1,740,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records The Cit Group/Consumer Finance filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Suffolk, New York | 214 | $ 31,446,000 | $ 146,943 | $ 131,000 |
| Westchester, New York | 137 | $ 29,118,000 | $ 212,540 | $ 122,000 |
| Queens, New York | 127 | $ 25,932,000 | $ 204,188 | $ 88,000 |
| Kings, New York | 115 | $ 24,734,000 | $ 215,078 | $ 97,000 |
| Nassau, New York | 96 | $ 17,876,000 | $ 186,208 | $ 141,000 |
| Bronx, New York | 84 | $ 17,656,000 | $ 210,190 | $ 91,000 |
| Orange, New York | 61 | $ 8,953,000 | $ 146,770 | $ 103,000 |
| Dutchess, New York | 59 | $ 8,545,000 | $ 144,830 | $ 96,000 |
| Albany, New York | 58 | $ 4,729,000 | $ 81,534 | $ 94,000 |
| Rockland, New York | 36 | $ 8,982,000 | $ 249,500 | $ 106,000 |
| Richmond, New York | 34 | $ 6,276,000 | $ 184,588 | $ 111,000 |
| Erie, New York | 25 | $ 2,346,000 | $ 93,840 | $ 40,000 |
| Ulster, New York | 23 | $ 2,911,000 | $ 126,565 | $ 61,000 |
| New York, New York | 20 | $ 7,301,000 | $ 365,050 | $ 160,000 |
| Rensselaer, New York | 18 | $ 1,237,000 | $ 68,722 | $ 63,000 |
| Putnam, New York | 17 | $ 2,648,000 | $ 155,764 | $ 155,000 |
| Saratoga, New York | 15 | $ 2,329,000 | $ 155,266 | $ 85,000 |
| Schenectady, New York | 9 | $ 620,000 | $ 68,888 | $ 41,000 |
| Warren, New York | 8 | $ 1,999,000 | $ 249,875 | $ 74,000 |
| Greene, New York | 6 | $ 342,000 | $ 57,000 | $ 102,000 |
| Jefferson, New York | 6 | $ 348,000 | $ 58,000 | $ 55,000 |
| Monroe, New York | 5 | $ 423,000 | $ 84,600 | $ 33,000 |
| Niagara, New York | 5 | $ 172,000 | $ 34,400 | $ 33,000 |
| Oswego, New York | 5 | $ 284,000 | $ 56,800 | $ 50,000 |
| Sullivan, New York | 5 | $ 465,000 | $ 93,000 | $ 71,000 |
| Washington, New York | 5 | $ 479,000 | $ 95,800 | $ 66,000 |
| Onondaga, New York | 4 | $ 488,000 | $ 122,000 | $ 36,000 |
| Cayuga, New York | 3 | $ 189,000 | $ 63,000 | $ 94,000 |
| Chautauqua, New York | 3 | $ 405,000 | $ 135,000 | $ 44,000 |
| Fulton, New York | 3 | $ 331,000 | $ 110,333 | $ 20,000 |
| Montgomery, New York | 3 | $ 148,000 | $ 49,333 | $ 30,000 |
| Orleans, New York | 2 | $ 178,000 | $ 89,000 | $ 54,000 |
| Otsego, New York | 2 | $ 151,000 | $ 75,500 | $ 69,000 |
| St. Lawrence, New York | 2 | $ 120,000 | $ 60,000 | $ 40,000 |
| Wayne, New York | 2 | $ 196,000 | $ 98,000 | $ 0 |
| Yates, New York | 2 | $ 239,000 | $ 119,500 | $ 87,000 |
| Allegany, New York | 1 | $ 58,000 | $ 58,000 | $ 41,000 |
| Broome, New York | 1 | $ 48,000 | $ 48,000 | $ 0 |
| Cattaraugus, New York | 1 | $ 60,000 | $ 60,000 | $ 21,000 |
| Chenango, New York | 1 | $ 48,000 | $ 48,000 | $ 48,000 |
| Clinton, New York | 1 | $ 60,000 | $ 60,000 | $ 98,000 |
| Columbia, New York | 1 | $ 286,000 | $ 286,000 | $ 74,000 |
| Delaware, New York | 1 | $ 68,000 | $ 68,000 | $ 59,000 |
| Essex, New York | 1 | $ 203,000 | $ 203,000 | $ 0 |
| Genesee, New York | 1 | $ 30,000 | $ 30,000 | $ 31,000 |
| Livingston, New York | 1 | $ 32,000 | $ 32,000 | $ 0 |
| Madison, New York | 1 | $ 60,000 | $ 60,000 | $ 130,000 |
| Seneca, New York | 1 | $ 51,000 | $ 51,000 | $ 58,000 |
| Steuben, New York | 1 | $ 43,000 | $ 43,000 | $ 30,000 |
| Lehigh, Pennsylvania | 1 | $ 88,000 | $ 88,000 | $ 37,000 |
Mortgage Loan Application Detail Totals for The Cit Group/Consumer Finance in 2003
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 (home purchase or home improvement, one-to-four family) | 629 | $111,322,000 | $176,000 | $980,000 | $76,666 | $889,000 |
| Home Purchase (one-to-four family) | 315 | $54,200,000 | $178,500 | $805,000 | $99,500 | $610,000 |
| Home Improvement (one-to-four family) | 294 | $47,297,000 | $160,000 | $850,000 | $123,000 | $1,740,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 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 | 469 | $72,980,000 | $150,500 | $980,000 | $96,500 | $1,740,000 |
| Information not provided by applicant in mail or telephone application | 465 | $85,684,000 | $198,333 | $900,000 | $84,333 | $1,260,000 |
| Black | 152 | $24,497,000 | $161,000 | $616,000 | $90,000 | $420,000 |
| Hispanic | 79 | $16,246,000 | $205,000 | $743,000 | $90,000 | $307,000 |
| Not applicable | 30 | $4,676,000 | $155,000 | $532,000 | $0 | $0 |
| Asian or Pacific Islander | 22 | $5,459,000 | $248,000 | $465,000 | $112,000 | $375,000 |
| Other | 20 | $3,001,000 | $150,000 | $417,000 | $149,000 | $780,000 |
| American Indian or Alaskan Native | 1 | $276,000 | $276,000 | $276,000 | $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) | 1,238 | $212,819,000 | $158,666 | $980,000 | $78,000 | $1,740,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 359 | $56,166,000 | $156,000 | $900,000 | $111,000 | $1,740,000 |
| Application Approved But Not Accepted | 325 | $55,826,000 | $210,500 | $620,000 | $101,000 | $519,000 |
| Application Withdrawn By Applicant | 260 | $54,359,000 | $164,333 | $850,000 | $84,666 | $889,000 |
| Loan Originated | 194 | $27,349,000 | $140,000 | $980,000 | $109,000 | $446,000 |
| Loan Purchased By The Institution | 100 | $19,119,000 | $191,000 | $544,000 | $0 | $0 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into The Cit Group/Consumer Finance's 2003 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 The Cit Group/Consumer Finance'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.
For a list of all lenders in New Jersey, download the full spreadsheet
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