The Cit Group/Consumer Finance Mortgage Lending & HMDA Data, 2005
In 2005, The Cit Group/Consumer Finance of Livingston, NJ reported 1,356 mortgage applications totaling $358.5 million, up 9% from 2004. The average application was for $264,401, and applicants reported an average income of $92,680. 14% of its applications resulted in an originated loan and 9% were denied. Its largest markets were New York-Wayne-White Plains, NY-NJ (742), Nassau-Suffolk, NY (330) and Albany-Schenectady-Troy, NY (64) (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 | 1,356 |
| Total Mortgage Loan Application Amount | $358,528,000 |
| Average Mortgage Loan Application Amount | $264,401 |
| Highest Mortgage Loan Application Amount | $1,304,000 |
| Average Applicant Income | $92,680 |
| Highest Applicant Income | $2,772,000 |
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records The Cit Group/Consumer Finance filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for The Cit Group/Consumer Finance in 2005
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 | 862 | $215,739,000 | $139,500 | $980,000 | $89,500 | $2,772,000 |
| Refinancing | 266 | $71,124,000 | $267,000 | $1,304,000 | $112,000 | $720,000 |
| Home Improvement | 228 | $71,665,000 | $314,000 | $725,000 | $118,000 | $782,000 |
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 | 541 | $132,775,000 | $245,000 | $738,000 | $0 | $0 |
| White | 297 | $72,064,000 | $242,000 | $1,304,000 | $118,000 | $2,772,000 |
| Black or African American | 201 | $59,162,000 | $294,000 | $784,000 | $85,000 | $252,000 |
| Not Provided | 153 | $46,716,000 | $305,000 | $794,000 | $135,000 | $782,000 |
| Hispanic | 96 | $29,650,000 | $170,000 | $674,000 | $99,500 | $359,000 |
| Asian | 60 | $16,554,000 | $275,000 | $648,000 | $121,000 | $637,000 |
| Native Hawaiian or Other Pacific Islander | 5 | $833,000 | $166,000 | $488,000 | $97,000 | $167,000 |
| American Indian or Alaskan Native | 3 | $774,000 | $258,000 | $499,000 | $107,000 | $119,000 |
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) | 1,356 | $358,528,000 | $146,500 | $1,304,000 | $99,500 | $2,772,000 |
| 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 | 631 | $156,330,000 | $247,000 | $800,000 | $0 | $0 |
| Application Approved But Not Accepted | 217 | $56,856,000 | $146,000 | $674,000 | $98,000 | $296,000 |
| Loan Originated | 195 | $49,855,000 | $255,000 | $660,000 | $140,000 | $2,772,000 |
| Application Withdrawn By Applicant | 189 | $60,777,000 | $321,000 | $1,304,000 | $120,000 | $646,000 |
| Application Denied By Financial Institution | 124 | $34,710,000 | $279,000 | $836,000 | $126,000 | $720,000 |
| 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 2005 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.
Mortgage lenders & HMDA data by state: Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · New York · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Puerto Rico · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virginia · Washington · West Virginia · Wisconsin · Wyoming
Home · Mortgage lenders A–Z · Data downloads · Blog · About