The Cit Group/Consumer Finance Mortgage Lending & HMDA Data, 2005
In 2005, The Cit Group/Consumer Finance of Livingston, NJ reported 2,290 mortgage applications totaling $218.6 million, down 20% from 2004. The average application was for $95,459, and applicants reported an average income of $55,063. 31% of its applications resulted in an originated loan and 22% were denied. Its largest markets were Nashville-Davidson--Murfreesboro, TN (663), Chattanooga, TN-GA (358) and Knoxville, TN (251) (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 | 2,290 |
| Total Mortgage Loan Application Amount | $218,602,000 |
| Average Mortgage Loan Application Amount | $95,459 |
| Highest Mortgage Loan Application Amount | $971,000 |
| Average Applicant Income | $55,063 |
| Highest Applicant Income | $3,600,000 |
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records The Cit Group/Consumer Finance filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Hamilton, Tennessee | 325 | $ 30,768,000 | $ 94,670 | $ 51,000 |
| Davidson, Tennessee | 294 | $ 31,839,000 | $ 108,295 | $ 73,000 |
| Knox, Tennessee | 138 | $ 13,288,000 | $ 96,289 | $ 59,000 |
| Shelby, Tennessee | 136 | $ 11,791,000 | $ 86,698 | $ 72,000 |
| Sumner, Tennessee | 79 | $ 10,108,000 | $ 127,949 | $ 89,000 |
| Rutherford, Tennessee | 78 | $ 8,380,000 | $ 107,435 | $ 51,000 |
| Tipton, Tennessee | 60 | $ 5,795,000 | $ 96,583 | $ 46,000 |
| Bradley, Tennessee | 59 | $ 5,099,000 | $ 86,423 | $ 43,000 |
| Wilson, Tennessee | 54 | $ 6,367,000 | $ 117,907 | $ 59,000 |
| Blount, Tennessee | 48 | $ 4,217,000 | $ 87,854 | $ 48,000 |
| Sullivan, Tennessee | 43 | $ 3,291,000 | $ 76,534 | $ 47,000 |
| Jefferson, Tennessee | 41 | $ 3,778,000 | $ 92,146 | $ 38,000 |
| Robertson, Tennessee | 41 | $ 3,927,000 | $ 95,780 | $ 138,000 |
| Maury, Tennessee | 38 | $ 3,867,000 | $ 101,763 | $ 47,000 |
| Anderson, Tennessee | 36 | $ 3,430,000 | $ 95,277 | $ 53,000 |
| Williamson, Tennessee | 36 | $ 6,649,000 | $ 184,694 | $ 95,000 |
| Dickson, Tennessee | 31 | $ 2,704,000 | $ 87,225 | $ 43,000 |
| Hamblen, Tennessee | 29 | $ 1,795,000 | $ 61,896 | $ 34,000 |
| Roane, Tennessee | 26 | $ 1,820,000 | $ 70,000 | $ 44,000 |
| Sevier, Tennessee | 25 | $ 3,068,000 | $ 122,720 | $ 102,000 |
| Greene, Tennessee | 24 | $ 1,646,000 | $ 68,583 | $ 40,000 |
| Madison, Tennessee | 24 | $ 1,825,000 | $ 76,041 | $ 45,000 |
| McMinn, Tennessee | 22 | $ 2,424,000 | $ 110,181 | $ 56,000 |
| Marion, Tennessee | 21 | $ 2,061,000 | $ 98,142 | $ 65,000 |
| Bedford, Tennessee | 20 | $ 1,791,000 | $ 89,550 | $ 54,000 |
| Cheatham, Tennessee | 20 | $ 1,585,000 | $ 79,250 | $ 55,000 |
| Montgomery, Tennessee | 20 | $ 2,077,000 | $ 103,850 | $ 68,000 |
| Campbell, Tennessee | 19 | $ 1,147,000 | $ 60,368 | $ 45,000 |
| Cumberland, Tennessee | 17 | $ 1,309,000 | $ 77,000 | $ 31,000 |
| Gibson, Tennessee | 17 | $ 1,379,000 | $ 81,117 | $ 62,000 |
| Rhea, Tennessee | 17 | $ 1,571,000 | $ 92,411 | $ 65,000 |
| Hawkins, Tennessee | 16 | $ 1,019,000 | $ 63,687 | $ 29,000 |
| Humphreys, Tennessee | 15 | $ 980,000 | $ 65,333 | $ 47,000 |
| Loudon, Tennessee | 15 | $ 1,816,000 | $ 121,066 | $ 63,000 |
| Monroe, Tennessee | 15 | $ 1,036,000 | $ 69,066 | $ 37,000 |
| Polk, Tennessee | 15 | $ 895,000 | $ 59,666 | $ 36,000 |
| Hickman, Tennessee | 14 | $ 958,000 | $ 68,428 | $ 43,000 |
| Union, Tennessee | 14 | $ 1,190,000 | $ 85,000 | $ 52,000 |
| Washington, Tennessee | 13 | $ 952,000 | $ 73,230 | $ 36,000 |
| Catoosa, Georgia | 12 | $ 1,728,000 | $ 144,000 | $ 54,000 |
| Lauderdale, Tennessee | 12 | $ 725,000 | $ 60,416 | $ 39,000 |
| Sequatchie, Tennessee | 12 | $ 1,311,000 | $ 109,250 | $ 42,000 |
| Bledsoe, Tennessee | 10 | $ 745,000 | $ 74,500 | $ 49,000 |
| Claiborne, Tennessee | 10 | $ 1,239,000 | $ 123,900 | $ 35,000 |
| Coffee, Tennessee | 10 | $ 773,000 | $ 77,300 | $ 46,000 |
| Dyer, Tennessee | 10 | $ 703,000 | $ 70,300 | $ 37,000 |
| Marshall, Tennessee | 10 | $ 660,000 | $ 66,000 | $ 48,000 |
| Cocke, Tennessee | 9 | $ 556,000 | $ 61,777 | $ 42,000 |
| Grainger, Tennessee | 9 | $ 717,000 | $ 79,666 | $ 34,000 |
| Weakley, Tennessee | 9 | $ 787,000 | $ 87,444 | $ 63,000 |
| Fayette, Tennessee | 8 | $ 2,152,000 | $ 269,000 | $ 106,000 |
| Obion, Tennessee | 8 | $ 337,000 | $ 42,125 | $ 57,000 |
| Smith, Tennessee | 8 | $ 617,000 | $ 77,125 | $ 44,000 |
| Whitfield, Georgia | 7 | $ 837,000 | $ 119,571 | $ 46,000 |
| Houston, Tennessee | 7 | $ 465,000 | $ 66,428 | $ 37,000 |
| Lawrence, Tennessee | 7 | $ 524,000 | $ 74,857 | $ 40,000 |
| Meigs, Tennessee | 7 | $ 462,000 | $ 66,000 | $ 25,000 |
| Putnam, Tennessee | 7 | $ 699,000 | $ 99,857 | $ 61,000 |
| Benton, Tennessee | 6 | $ 319,000 | $ 53,166 | $ 28,000 |
| Giles, Tennessee | 6 | $ 376,000 | $ 62,666 | $ 26,000 |
| Henry, Tennessee | 6 | $ 320,000 | $ 53,333 | $ 22,000 |
| Jackson, Tennessee | 6 | $ 470,000 | $ 78,333 | $ 44,000 |
| Stewart, Tennessee | 6 | $ 628,000 | $ 104,666 | $ 47,000 |
| Franklin, Tennessee | 5 | $ 398,000 | $ 79,600 | $ 38,000 |
| Hardeman, Tennessee | 5 | $ 339,000 | $ 67,800 | $ 24,000 |
| Henderson, Tennessee | 5 | $ 277,000 | $ 55,400 | $ 30,000 |
| Warren, Tennessee | 5 | $ 328,000 | $ 65,600 | $ 34,000 |
| Carroll, Tennessee | 4 | $ 287,000 | $ 71,750 | $ 40,000 |
| Carter, Tennessee | 4 | $ 280,000 | $ 70,000 | $ 49,000 |
| Chester, Tennessee | 4 | $ 212,000 | $ 53,000 | $ 36,000 |
| Grundy, Tennessee | 4 | $ 317,000 | $ 79,250 | $ 30,000 |
| Hardin, Tennessee | 4 | $ 218,000 | $ 54,500 | $ 37,000 |
| Haywood, Tennessee | 4 | $ 281,000 | $ 70,250 | $ 40,000 |
| Lewis, Tennessee | 4 | $ 292,000 | $ 73,000 | $ 46,000 |
| Lincoln, Tennessee | 4 | $ 271,000 | $ 67,750 | $ 41,000 |
| Morgan, Tennessee | 4 | $ 297,000 | $ 74,250 | $ 27,000 |
| Scott, Tennessee | 4 | $ 337,000 | $ 84,250 | $ 332,000 |
| Trousdale, Tennessee | 4 | $ 333,000 | $ 83,250 | $ 38,000 |
| White, Tennessee | 4 | $ 274,000 | $ 68,500 | $ 40,000 |
| Walker, Georgia | 3 | $ 173,000 | $ 57,666 | $ 55,000 |
| Cannon, Tennessee | 3 | $ 261,000 | $ 87,000 | $ 46,000 |
| Crockett, Tennessee | 3 | $ 203,000 | $ 67,666 | $ 53,000 |
| McNairy, Tennessee | 3 | $ 207,000 | $ 69,000 | $ 30,000 |
| Overton, Tennessee | 3 | $ 236,000 | $ 78,666 | $ 35,000 |
| Christian, Kentucky | 2 | $ 122,000 | $ 61,000 | $ 43,000 |
| Logan, Kentucky | 2 | $ 112,000 | $ 56,000 | $ 51,000 |
| McCracken, Kentucky | 2 | $ 240,000 | $ 120,000 | $ 95,000 |
| Simpson, Kentucky | 2 | $ 146,000 | $ 73,000 | $ 28,000 |
| Warren, Kentucky | 2 | $ 199,000 | $ 99,500 | $ 43,000 |
| Hancock, Tennessee | 2 | $ 126,000 | $ 63,000 | $ 24,000 |
| Moore, Tennessee | 2 | $ 119,000 | $ 59,500 | $ 21,000 |
| Wayne, Tennessee | 2 | $ 147,000 | $ 73,500 | $ 41,000 |
| Appomattox, Virginia | 2 | $ 142,000 | $ 71,000 | $ 32,000 |
| Franklin, Arkansas | 1 | $ 180,000 | $ 180,000 | $ 50,000 |
| Pulaski, Arkansas | 1 | $ 30,000 | $ 30,000 | $ 216,000 |
| San Bernardino, California | 1 | $ 199,000 | $ 199,000 | $ 67,000 |
| Santa Clara, California | 1 | $ 293,000 | $ 293,000 | $ 78,000 |
| Pinellas, Florida | 1 | $ 100,000 | $ 100,000 | $ 265,000 |
| Berrien, Georgia | 1 | $ 70,000 | $ 70,000 | $ 19,000 |
| Colquitt, Georgia | 1 | $ 261,000 | $ 261,000 | $ 57,000 |
| Columbia, Georgia | 1 | $ 407,000 | $ 407,000 | $ 77,000 |
| Dade, Georgia | 1 | $ 50,000 | $ 50,000 | $ 47,000 |
| Hall, Georgia | 1 | $ 100,000 | $ 100,000 | $ 180,000 |
| Murray, Georgia | 1 | $ 86,000 | $ 86,000 | $ 56,000 |
| Boyd, Kentucky | 1 | $ 50,000 | $ 50,000 | $ 72,000 |
| Crittenden, Kentucky | 1 | $ 230,000 | $ 230,000 | $ 90,000 |
| Todd, Kentucky | 1 | $ 70,000 | $ 70,000 | $ 36,000 |
| Genesee, Michigan | 1 | $ 60,000 | $ 60,000 | $ 20,000 |
| Marion, Missouri | 1 | $ 53,000 | $ 53,000 | $ 30,000 |
| St. Francois, Missouri | 1 | $ 92,000 | $ 92,000 | $ 80,000 |
| St. Louis, Missouri | 1 | $ 90,000 | $ 90,000 | $ 24,000 |
| Queens, New York | 1 | $ 100,000 | $ 100,000 | $ 51,000 |
| Wood, Ohio | 1 | $ 160,000 | $ 160,000 | $ 81,000 |
| Clay, Tennessee | 1 | $ 71,000 | $ 71,000 | $ 40,000 |
| DeKalb, Tennessee | 1 | $ 60,000 | $ 60,000 | $ 54,000 |
| Fentress, Tennessee | 1 | $ 63,000 | $ 63,000 | $ 32,000 |
| Johnson, Tennessee | 1 | $ 110,000 | $ 110,000 | $ 21,000 |
| Lake, Tennessee | 1 | $ 61,000 | $ 61,000 | $ 19,000 |
| Macon, Tennessee | 1 | $ 56,000 | $ 56,000 | $ 38,000 |
| Perry, Tennessee | 1 | $ 59,000 | $ 59,000 | $ 26,000 |
| Unicoi, Tennessee | 1 | $ 227,000 | $ 227,000 | $ 47,000 |
| Scott, Virginia | 1 | $ 45,000 | $ 45,000 | $ 21,000 |
| Smyth, Virginia | 1 | $ 60,000 | $ 60,000 | $ 15,000 |
| Washington, Virginia | 1 | $ 66,000 | $ 66,000 | $ 26,000 |
| Wise, Virginia | 1 | $ 77,000 | $ 77,000 | $ 43,000 |
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 |
|---|---|---|---|---|---|---|
| Refinancing | 1,298 | $124,489,000 | $101,300 | $671,000 | $88,400 | $1,568,000 |
| Home Purchase | 666 | $58,304,000 | $104,833 | $779,000 | $48,833 | $3,600,000 |
| Home Improvement | 326 | $35,809,000 | $170,000 | $971,000 | $62,666 | $660,000 |
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 | 1,507 | $147,482,000 | $105,500 | $971,000 | $60,500 | $3,600,000 |
| Not Provided | 380 | $34,837,000 | $119,625 | $616,000 | $84,625 | $1,214,000 |
| Black or African American | 363 | $32,548,000 | $106,000 | $505,000 | $47,200 | $338,000 |
| Hispanic | 24 | $2,304,000 | $96,000 | $166,000 | $47,000 | $146,000 |
| Asian | 12 | $1,155,000 | $96,000 | $207,000 | $66,000 | $162,000 |
| American Indian or Alaskan Native | 3 | $207,000 | $69,000 | $69,000 | $120,000 | $120,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $69,000 | $69,000 | $69,000 | $60,000 | $60,000 |
| Not applicable | 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) | 2,290 | $218,602,000 | $111,727 | $971,000 | $78,454 | $3,600,000 |
| 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 Approved But Not Accepted | 725 | $67,409,000 | $92,000 | $691,000 | $53,000 | $1,214,000 |
| Loan Originated | 714 | $67,728,000 | $94,000 | $580,000 | $52,000 | $632,000 |
| Application Denied By Financial Institution | 494 | $44,576,000 | $95,000 | $686,000 | $37,250 | $3,600,000 |
| Application Withdrawn By Applicant | 357 | $38,889,000 | $119,400 | $971,000 | $88,800 | $1,800,000 |
| 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 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.
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