The Cit Group/Consumer Finance Mortgage Lending & HMDA Data, 2007
In 2007, The Cit Group/Consumer Finance of Livingston, NJ reported 1,121 mortgage applications totaling $137.8 million, down 56% from 2006. The average application was for $122,938, and applicants reported an average income of $80,182. 31% of its applications resulted in an originated loan and 21% were denied. Its largest markets were Nashville-Davidson--Murfreesboro--Franklin, TN (425), Memphis, TN-MS-AR (164) and Chattanooga, TN-GA (144) (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 | 1,121 |
| Total Mortgage Loan Application Amount | $137,814,000 |
| Average Mortgage Loan Application Amount | $122,938 |
| Highest Mortgage Loan Application Amount | $959,000 |
| Average Applicant Income | $80,182 |
| Highest Applicant Income | $1,921,000 |
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records The Cit Group/Consumer Finance filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Davidson, Tennessee | 253 | $ 31,579,000 | $ 124,818 | $ 76,000 |
| Shelby, Tennessee | 159 | $ 16,448,000 | $ 103,446 | $ 80,000 |
| Hamilton, Tennessee | 136 | $ 16,457,000 | $ 121,007 | $ 98,000 |
| Knox, Tennessee | 90 | $ 10,798,000 | $ 119,977 | $ 70,000 |
| Rutherford, Tennessee | 57 | $ 7,329,000 | $ 128,578 | $ 66,000 |
| Sumner, Tennessee | 35 | $ 7,743,000 | $ 221,228 | $ 184,000 |
| Wilson, Tennessee | 27 | $ 4,096,000 | $ 151,703 | $ 98,000 |
| Montgomery, Tennessee | 23 | $ 2,366,000 | $ 102,869 | $ 57,000 |
| Bradley, Tennessee | 18 | $ 1,773,000 | $ 98,500 | $ 62,000 |
| Robertson, Tennessee | 18 | $ 2,467,000 | $ 137,055 | $ 64,000 |
| Blount, Tennessee | 17 | $ 1,794,000 | $ 105,529 | $ 47,000 |
| Maury, Tennessee | 14 | $ 1,320,000 | $ 94,285 | $ 46,000 |
| Bedford, Tennessee | 13 | $ 1,614,000 | $ 124,153 | $ 43,000 |
| Anderson, Tennessee | 12 | $ 1,097,000 | $ 91,416 | $ 50,000 |
| Williamson, Tennessee | 12 | $ 4,152,000 | $ 346,000 | $ 133,000 |
| Madison, Tennessee | 11 | $ 1,518,000 | $ 138,000 | $ 91,000 |
| Dickson, Tennessee | 10 | $ 843,000 | $ 84,300 | $ 39,000 |
| McMinn, Tennessee | 10 | $ 808,000 | $ 80,800 | $ 51,000 |
| Sullivan, Tennessee | 10 | $ 2,102,000 | $ 210,200 | $ 116,000 |
| Sevier, Tennessee | 9 | $ 1,929,000 | $ 214,333 | $ 213,000 |
| Franklin, Tennessee | 8 | $ 1,110,000 | $ 138,750 | $ 64,000 |
| Hamblen, Tennessee | 8 | $ 740,000 | $ 92,500 | $ 47,000 |
| Marshall, Tennessee | 8 | $ 830,000 | $ 103,750 | $ 40,000 |
| White, Tennessee | 8 | $ 626,000 | $ 78,250 | $ 57,000 |
| Putnam, Tennessee | 6 | $ 621,000 | $ 103,500 | $ 27,000 |
| Cocke, Tennessee | 5 | $ 341,000 | $ 68,200 | $ 34,000 |
| Greene, Tennessee | 5 | $ 1,133,000 | $ 226,600 | $ 91,000 |
| Jefferson, Tennessee | 5 | $ 925,000 | $ 185,000 | $ 74,000 |
| Marion, Tennessee | 5 | $ 294,000 | $ 58,800 | $ 47,000 |
| Monroe, Tennessee | 5 | $ 438,000 | $ 87,600 | $ 47,000 |
| Polk, Tennessee | 5 | $ 359,000 | $ 71,800 | $ 40,000 |
| Roane, Tennessee | 5 | $ 459,000 | $ 91,800 | $ 36,000 |
| Washington, Tennessee | 5 | $ 595,000 | $ 119,000 | $ 46,000 |
| Hardeman, Tennessee | 4 | $ 457,000 | $ 114,250 | $ 69,000 |
| Haywood, Tennessee | 4 | $ 329,000 | $ 82,250 | $ 118,000 |
| Lawrence, Tennessee | 4 | $ 287,000 | $ 71,750 | $ 28,000 |
| Macon, Tennessee | 4 | $ 254,000 | $ 63,500 | $ 34,000 |
| Union, Tennessee | 4 | $ 248,000 | $ 62,000 | $ 78,000 |
| DeKalb, Georgia | 3 | $ 407,000 | $ 135,666 | $ 48,000 |
| Carter, Tennessee | 3 | $ 233,000 | $ 77,666 | $ 30,000 |
| Coffee, Tennessee | 3 | $ 205,000 | $ 68,333 | $ 24,000 |
| Hardin, Tennessee | 3 | $ 468,000 | $ 156,000 | $ 53,000 |
| Hickman, Tennessee | 3 | $ 309,000 | $ 103,000 | $ 49,000 |
| Houston, Tennessee | 3 | $ 323,000 | $ 107,666 | $ 74,000 |
| Lincoln, Tennessee | 3 | $ 308,000 | $ 102,666 | $ 57,000 |
| Smith, Tennessee | 3 | $ 167,000 | $ 55,666 | $ 48,000 |
| Tipton, Tennessee | 3 | $ 261,000 | $ 87,000 | $ 422,000 |
| Weakley, Tennessee | 3 | $ 135,000 | $ 45,000 | $ 27,000 |
| Barrow, Georgia | 2 | $ 222,000 | $ 111,000 | $ 32,000 |
| Catoosa, Georgia | 2 | $ 315,000 | $ 157,500 | $ 127,000 |
| Warren, Kentucky | 2 | $ 243,000 | $ 121,500 | $ 288,000 |
| DeSoto, Mississippi | 2 | $ 405,000 | $ 202,500 | $ 108,000 |
| Bledsoe, Tennessee | 2 | $ 105,000 | $ 52,500 | $ 44,000 |
| Cumberland, Tennessee | 2 | $ 179,000 | $ 89,500 | $ 38,000 |
| DeKalb, Tennessee | 2 | $ 330,000 | $ 165,000 | $ 178,000 |
| Gibson, Tennessee | 2 | $ 167,000 | $ 83,500 | $ 214,000 |
| Hawkins, Tennessee | 2 | $ 115,000 | $ 57,500 | $ 25,000 |
| Henry, Tennessee | 2 | $ 198,000 | $ 99,000 | $ 38,000 |
| Humphreys, Tennessee | 2 | $ 136,000 | $ 68,000 | $ 55,000 |
| Johnson, Tennessee | 2 | $ 254,000 | $ 127,000 | $ 40,000 |
| Meigs, Tennessee | 2 | $ 523,000 | $ 261,500 | $ 38,000 |
| Trousdale, Tennessee | 2 | $ 120,000 | $ 60,000 | $ 36,000 |
| Warren, Tennessee | 2 | $ 180,000 | $ 90,000 | $ 54,000 |
| Arkansas, Arkansas | 1 | $ 50,000 | $ 50,000 | $ 70,000 |
| Duval, Florida | 1 | $ 311,000 | $ 311,000 | $ 73,000 |
| Butts, Georgia | 1 | $ 103,000 | $ 103,000 | $ 53,000 |
| Clayton, Georgia | 1 | $ 190,000 | $ 190,000 | $ 46,000 |
| Walker, Georgia | 1 | $ 75,000 | $ 75,000 | $ 55,000 |
| Cook, Illinois | 1 | $ 210,000 | $ 210,000 | $ 77,000 |
| Marion, Indiana | 1 | $ 98,000 | $ 98,000 | $ 58,000 |
| Barren, Kentucky | 1 | $ 45,000 | $ 45,000 | $ 474,000 |
| Bourbon, Kentucky | 1 | $ 82,000 | $ 82,000 | $ 54,000 |
| Jefferson, Kentucky | 1 | $ 78,000 | $ 78,000 | $ 35,000 |
| Lauderdale, Mississippi | 1 | $ 117,000 | $ 117,000 | $ 38,000 |
| Franklin, Missouri | 1 | $ 97,000 | $ 97,000 | $ 36,000 |
| St. Louis City, Missouri | 1 | $ 180,000 | $ 180,000 | $ 150,000 |
| Summit, Ohio | 1 | $ 93,000 | $ 93,000 | $ 51,000 |
| Campbell, Tennessee | 1 | $ 69,000 | $ 69,000 | $ 19,000 |
| Cheatham, Tennessee | 1 | $ 128,000 | $ 128,000 | $ 37,000 |
| Claiborne, Tennessee | 1 | $ 81,000 | $ 81,000 | $ 39,000 |
| Crockett, Tennessee | 1 | $ 39,000 | $ 39,000 | $ 42,000 |
| Dyer, Tennessee | 1 | $ 65,000 | $ 65,000 | $ 46,000 |
| Fentress, Tennessee | 1 | $ 68,000 | $ 68,000 | $ 19,000 |
| Lewis, Tennessee | 1 | $ 56,000 | $ 56,000 | $ 20,000 |
| Loudon, Tennessee | 1 | $ 102,000 | $ 102,000 | $ 39,000 |
| McNairy, Tennessee | 1 | $ 58,000 | $ 58,000 | $ 39,000 |
| Pickett, Tennessee | 1 | $ 72,000 | $ 72,000 | $ 111,000 |
| Rhea, Tennessee | 1 | $ 128,000 | $ 128,000 | $ 42,000 |
| Scott, Tennessee | 1 | $ 55,000 | $ 55,000 | $ 44,000 |
| Unicoi, Tennessee | 1 | $ 386,000 | $ 386,000 | $ 107,000 |
| Wayne, Tennessee | 1 | $ 80,000 | $ 80,000 | $ 37,000 |
| Bristol, Virginia | 1 | $ 111,000 | $ 111,000 | $ 618,000 |
Mortgage Loan Application Detail Totals for The Cit Group/Consumer Finance in 2007
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 | 600 | $76,587,000 | $127,000 | $791,000 | $80,000 | $1,921,000 |
| Home Purchase | 394 | $47,022,000 | $119,000 | $959,000 | $86,000 | $1,020,000 |
| Home Improvement | 127 | $14,205,000 | $111,000 | $432,000 | $63,000 | $271,000 |
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 |
|---|---|---|---|---|---|---|
| White | 568 | $73,223,000 | $128,000 | $959,000 | $89,000 | $1,921,000 |
| Black or African American | 337 | $34,444,000 | $102,000 | $537,000 | $63,000 | $420,000 |
| Not Provided | 177 | $24,059,000 | $135,000 | $798,000 | $67,000 | $480,000 |
| Hispanic | 22 | $3,462,000 | $157,000 | $494,000 | $153,000 | $504,000 |
| Asian | 15 | $2,341,000 | $156,000 | $356,000 | $171,000 | $1,020,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $285,000 | $142,000 | $240,000 | $117,000 | $117,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $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) | 1,121 | $137,814,000 | $122,000 | $959,000 | $80,000 | $1,921,000 |
| 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 Originated | 348 | $39,722,000 | $114,000 | $700,000 | $78,000 | $732,000 |
| Application Withdrawn By Applicant | 273 | $36,814,000 | $134,000 | $881,000 | $84,000 | $744,000 |
| Application Approved But Not Accepted | 266 | $34,169,000 | $128,000 | $791,000 | $81,000 | $1,921,000 |
| Application Denied By Financial Institution | 234 | $27,109,000 | $115,000 | $959,000 | $78,000 | $744,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 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 2007 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.
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