The Cit Group/Consumer Finance Mortgage Lending & HMDA Data, 2006
In 2006, The Cit Group/Consumer Finance of Livingston, NJ reported 2,512 mortgage applications totaling $567.7 million, up 85% from 2005. The average application was for $225,984, and applicants reported an average income of $81,630. 24% of its applications resulted in an originated loan and 10% were denied. Its largest markets were New York-White Plains-Wayne, NY-NJ (959), Nassau-Suffolk, NY (803) and Buffalo-Niagara Falls, NY (190) (applications in parentheses).
| Mortgage Company & Address | The Cit Group/Consumer Finance 1 Cit Drive Livingston, NJ 07039 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 2,512 |
| Total Mortgage Loan Application Amount | $567,673,000 |
| Average Mortgage Loan Application Amount | $225,984 |
| Highest Mortgage Loan Application Amount | $975,000 |
| Average Applicant Income | $81,630 |
| Highest Applicant Income | $1,204,000 |
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records The Cit Group/Consumer Finance filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 469 | $ 107,030,000 | $ 228,208 | $ 91,000 |
| Queens, New York | 346 | $ 100,544,000 | $ 290,589 | $ 81,000 |
| Nassau, New York | 334 | $ 82,915,000 | $ 248,248 | $ 106,000 |
| Kings, New York | 309 | $ 100,164,000 | $ 324,155 | $ 89,000 |
| Erie, New York | 171 | $ 12,321,000 | $ 72,052 | $ 67,000 |
| Bronx, New York | 96 | $ 30,562,000 | $ 318,354 | $ 63,000 |
| Monroe, New York | 94 | $ 8,020,000 | $ 85,319 | $ 58,000 |
| Westchester, New York | 84 | $ 25,783,000 | $ 306,940 | $ 121,000 |
| Dutchess, New York | 70 | $ 14,180,000 | $ 202,571 | $ 66,000 |
| Orange, New York | 68 | $ 13,566,000 | $ 199,500 | $ 68,000 |
| Richmond, New York | 63 | $ 14,032,000 | $ 222,730 | $ 71,000 |
| Rockland, New York | 34 | $ 9,079,000 | $ 267,029 | $ 119,000 |
| Albany, New York | 32 | $ 4,554,000 | $ 142,312 | $ 34,000 |
| Ulster, New York | 32 | $ 5,043,000 | $ 157,593 | $ 51,000 |
| Schenectady, New York | 29 | $ 2,758,000 | $ 95,103 | $ 24,000 |
| Onondaga, New York | 23 | $ 1,837,000 | $ 79,869 | $ 80,000 |
| Chautauqua, New York | 20 | $ 1,387,000 | $ 69,350 | $ 43,000 |
| Niagara, New York | 19 | $ 1,490,000 | $ 78,421 | $ 63,000 |
| Putnam, New York | 19 | $ 5,794,000 | $ 304,947 | $ 102,000 |
| Rensselaer, New York | 19 | $ 2,817,000 | $ 148,263 | $ 53,000 |
| Ontario, New York | 15 | $ 1,228,000 | $ 81,866 | $ 59,000 |
| Wayne, New York | 11 | $ 845,000 | $ 76,818 | $ 37,000 |
| Oneida, New York | 10 | $ 1,033,000 | $ 103,300 | $ 113,000 |
| Sullivan, New York | 9 | $ 1,246,000 | $ 138,444 | $ 44,000 |
| Columbia, New York | 8 | $ 1,483,000 | $ 185,375 | $ 44,000 |
| New York, New York | 8 | $ 2,519,000 | $ 314,875 | $ 75,000 |
| Washington, New York | 8 | $ 932,000 | $ 116,500 | $ 54,000 |
| Cattaraugus, New York | 7 | $ 544,000 | $ 77,714 | $ 105,000 |
| Genesee, New York | 7 | $ 395,000 | $ 56,428 | $ 35,000 |
| Herkimer, New York | 7 | $ 617,000 | $ 88,142 | $ 26,000 |
| Otsego, New York | 7 | $ 467,000 | $ 66,714 | $ 31,000 |
| Saratoga, New York | 7 | $ 1,314,000 | $ 187,714 | $ 17,000 |
| Broome, New York | 6 | $ 504,000 | $ 84,000 | $ 75,000 |
| Cortland, New York | 6 | $ 682,000 | $ 113,666 | $ 41,000 |
| Allegany, New York | 5 | $ 718,000 | $ 143,600 | $ 114,000 |
| Fulton, New York | 5 | $ 1,099,000 | $ 219,800 | $ 54,000 |
| Chenango, New York | 4 | $ 359,000 | $ 89,750 | $ 34,000 |
| Clinton, New York | 4 | $ 515,000 | $ 128,750 | $ 53,000 |
| Franklin, New York | 4 | $ 450,000 | $ 112,500 | $ 0 |
| Livingston, New York | 4 | $ 296,000 | $ 74,000 | $ 45,000 |
| Cayuga, New York | 3 | $ 227,000 | $ 75,666 | $ 0 |
| Greene, New York | 3 | $ 398,000 | $ 132,666 | $ 20,000 |
| Orleans, New York | 3 | $ 217,000 | $ 72,333 | $ 18,000 |
| Yates, New York | 3 | $ 287,000 | $ 95,666 | $ 27,000 |
| Montgomery, New York | 2 | $ 194,000 | $ 97,000 | $ 0 |
| Oswego, New York | 2 | $ 167,000 | $ 83,500 | $ 0 |
| Schoharie, New York | 2 | $ 174,000 | $ 87,000 | $ 19,000 |
| Warren, New York | 2 | $ 164,000 | $ 82,000 | $ 0 |
| Wyoming, New York | 2 | $ 192,000 | $ 96,000 | $ 55,000 |
| Essex, New York | 1 | $ 85,000 | $ 85,000 | $ 72,000 |
| Jefferson, New York | 1 | $ 51,000 | $ 51,000 | $ 81,000 |
| Madison, New York | 1 | $ 270,000 | $ 270,000 | $ 0 |
| Seneca, New York | 1 | $ 185,000 | $ 185,000 | $ 57,000 |
| St. Lawrence, New York | 1 | $ 69,000 | $ 69,000 | $ 57,000 |
| Steuben, New York | 1 | $ 131,000 | $ 131,000 | $ 80,000 |
Mortgage Loan Application Detail Totals for The Cit Group/Consumer Finance in 2006
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 | 1,271 | $278,131,000 | $218,000 | $875,000 | $81,000 | $738,000 |
| Refinancing | 1,051 | $248,816,000 | $236,000 | $975,000 | $76,000 | $1,204,000 |
| Home Improvement | 190 | $40,726,000 | $214,000 | $680,000 | $117,000 | $1,067,000 |
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 |
|---|---|---|---|---|---|---|
| Not applicable | 710 | $194,661,000 | $274,000 | $875,000 | $0 | $0 |
| White | 546 | $102,771,000 | $188,000 | $975,000 | $126,000 | $1,067,000 |
| Black or African American | 460 | $112,130,000 | $243,000 | $645,000 | $107,000 | $732,000 |
| Not Provided | 433 | $70,697,000 | $163,000 | $720,000 | $102,000 | $1,032,000 |
| Hispanic | 288 | $70,182,000 | $243,000 | $764,000 | $118,000 | $1,204,000 |
| Asian | 51 | $12,010,000 | $235,000 | $503,000 | $127,000 | $339,000 |
| American Indian or Alaskan Native | 17 | $3,855,000 | $226,000 | $484,000 | $107,000 | $140,000 |
| Native Hawaiian or Other Pacific Islander | 7 | $1,367,000 | $195,000 | $424,000 | $97,000 | $151,000 |
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) | 2,512 | $567,673,000 | $225,000 | $975,000 | $81,000 | $1,204,000 |
| 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 |
|---|---|---|---|---|---|---|
| Loan Purchased By The Institution | 710 | $194,661,000 | $274,000 | $875,000 | $0 | $0 |
| Application Withdrawn By Applicant | 613 | $137,156,000 | $223,000 | $764,000 | $124,000 | $1,204,000 |
| Loan Originated | 603 | $114,879,000 | $190,000 | $680,000 | $110,000 | $1,067,000 |
| Application Approved But Not Accepted | 343 | $63,964,000 | $186,000 | $608,000 | $104,000 | $738,000 |
| Application Denied By Financial Institution | 243 | $57,013,000 | $234,000 | $975,000 | $109,000 | $516,000 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| 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 2006 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
with aggregated HMDA statistics today.
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