The Cit Group/Consumer Finance Mortgage Lending & HMDA Data, 2006
In 2006, The Cit Group/Consumer Finance of Livingston, NJ reported 2,532 mortgage applications totaling $237.7 million, up 11% from 2005. The average application was for $93,888, and applicants reported an average income of $70,532. 38% of its applications resulted in an originated loan and 25% were denied. Its largest markets were Nashville-Davidson--Murfreesboro, TN (716), Knoxville, TN (412) and Chattanooga, TN-GA (279) (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 | 2,532 |
| Total Mortgage Loan Application Amount | $237,726,000 |
| Average Mortgage Loan Application Amount | $93,888 |
| Highest Mortgage Loan Application Amount | $1,460,000 |
| Average Applicant Income | $70,532 |
| Highest Applicant Income | $9,999,000 |
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records The Cit Group/Consumer Finance filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 320 | $ 33,516,000 | $ 104,737 | $ 72,000 |
| Knox, Tennessee | 265 | $ 24,179,000 | $ 91,241 | $ 57,000 |
| Hamilton, Tennessee | 254 | $ 23,934,000 | $ 94,228 | $ 153,000 |
| Shelby, Tennessee | 241 | $ 26,175,000 | $ 108,609 | $ 62,000 |
| Rutherford, Tennessee | 86 | $ 9,389,000 | $ 109,174 | $ 75,000 |
| Sumner, Tennessee | 84 | $ 9,811,000 | $ 116,797 | $ 71,000 |
| Blount, Tennessee | 69 | $ 7,135,000 | $ 103,405 | $ 60,000 |
| Sevier, Tennessee | 56 | $ 7,139,000 | $ 127,482 | $ 162,000 |
| Montgomery, Tennessee | 50 | $ 4,228,000 | $ 84,560 | $ 75,000 |
| Wilson, Tennessee | 49 | $ 5,050,000 | $ 103,061 | $ 71,000 |
| Madison, Tennessee | 47 | $ 3,401,000 | $ 72,361 | $ 60,000 |
| Anderson, Tennessee | 46 | $ 3,839,000 | $ 83,456 | $ 47,000 |
| Robertson, Tennessee | 45 | $ 3,966,000 | $ 88,133 | $ 59,000 |
| Williamson, Tennessee | 37 | $ 5,132,000 | $ 138,702 | $ 74,000 |
| Jefferson, Tennessee | 32 | $ 3,045,000 | $ 95,156 | $ 41,000 |
| McMinn, Tennessee | 32 | $ 1,953,000 | $ 61,031 | $ 41,000 |
| Dickson, Tennessee | 31 | $ 2,316,000 | $ 74,709 | $ 53,000 |
| Maury, Tennessee | 31 | $ 3,187,000 | $ 102,806 | $ 60,000 |
| Roane, Tennessee | 31 | $ 2,527,000 | $ 81,516 | $ 42,000 |
| Bradley, Tennessee | 30 | $ 2,103,000 | $ 70,100 | $ 39,000 |
| Campbell, Tennessee | 26 | $ 1,390,000 | $ 53,461 | $ 35,000 |
| Cheatham, Tennessee | 26 | $ 2,659,000 | $ 102,269 | $ 52,000 |
| Greene, Tennessee | 26 | $ 2,057,000 | $ 79,115 | $ 41,000 |
| Sullivan, Tennessee | 25 | $ 1,954,000 | $ 78,160 | $ 55,000 |
| Hickman, Tennessee | 23 | $ 1,636,000 | $ 71,130 | $ 37,000 |
| Washington, Tennessee | 23 | $ 1,775,000 | $ 77,173 | $ 77,000 |
| Hamblen, Tennessee | 22 | $ 2,866,000 | $ 130,272 | $ 70,000 |
| Loudon, Tennessee | 19 | $ 2,136,000 | $ 112,421 | $ 55,000 |
| Monroe, Tennessee | 19 | $ 1,741,000 | $ 91,631 | $ 56,000 |
| Tipton, Tennessee | 18 | $ 1,903,000 | $ 105,722 | $ 74,000 |
| Carter, Tennessee | 17 | $ 1,161,000 | $ 68,294 | $ 43,000 |
| Hardin, Tennessee | 17 | $ 1,274,000 | $ 74,941 | $ 36,000 |
| Hawkins, Tennessee | 17 | $ 1,414,000 | $ 83,176 | $ 45,000 |
| Marshall, Tennessee | 16 | $ 1,258,000 | $ 78,625 | $ 49,000 |
| Rhea, Tennessee | 16 | $ 1,318,000 | $ 82,375 | $ 70,000 |
| Cocke, Tennessee | 15 | $ 1,099,000 | $ 73,266 | $ 53,000 |
| Gibson, Tennessee | 14 | $ 748,000 | $ 53,428 | $ 32,000 |
| Putnam, Tennessee | 14 | $ 1,045,000 | $ 74,642 | $ 61,000 |
| Humphreys, Tennessee | 13 | $ 813,000 | $ 62,538 | $ 48,000 |
| Marion, Tennessee | 13 | $ 901,000 | $ 69,307 | $ 42,000 |
| Union, Tennessee | 13 | $ 1,221,000 | $ 93,923 | $ 55,000 |
| Wayne, Tennessee | 11 | $ 607,000 | $ 55,181 | $ 44,000 |
| Giles, Tennessee | 10 | $ 907,000 | $ 90,700 | $ 50,000 |
| Lawrence, Tennessee | 10 | $ 661,000 | $ 66,100 | $ 34,000 |
| Warren, Tennessee | 10 | $ 658,000 | $ 65,800 | $ 26,000 |
| Lauderdale, Tennessee | 9 | $ 628,000 | $ 69,777 | $ 38,000 |
| Weakley, Tennessee | 9 | $ 644,000 | $ 71,555 | $ 37,000 |
| Bedford, Tennessee | 8 | $ 872,000 | $ 109,000 | $ 39,000 |
| Claiborne, Tennessee | 8 | $ 750,000 | $ 93,750 | $ 45,000 |
| Coffee, Tennessee | 8 | $ 914,000 | $ 114,250 | $ 59,000 |
| Crockett, Tennessee | 8 | $ 347,000 | $ 43,375 | $ 32,000 |
| McNairy, Tennessee | 8 | $ 494,000 | $ 61,750 | $ 31,000 |
| Morgan, Tennessee | 8 | $ 624,000 | $ 78,000 | $ 45,000 |
| DeKalb, Tennessee | 7 | $ 574,000 | $ 82,000 | $ 33,000 |
| Fayette, Tennessee | 7 | $ 500,000 | $ 71,428 | $ 37,000 |
| Henry, Tennessee | 7 | $ 284,000 | $ 40,571 | $ 35,000 |
| Lewis, Tennessee | 7 | $ 396,000 | $ 56,571 | $ 34,000 |
| Chester, Tennessee | 6 | $ 293,000 | $ 48,833 | $ 28,000 |
| Cumberland, Tennessee | 6 | $ 329,000 | $ 54,833 | $ 32,000 |
| Grainger, Tennessee | 6 | $ 397,000 | $ 66,166 | $ 28,000 |
| Haywood, Tennessee | 6 | $ 345,000 | $ 57,500 | $ 45,000 |
| Lincoln, Tennessee | 6 | $ 366,000 | $ 61,000 | $ 36,000 |
| Macon, Tennessee | 6 | $ 543,000 | $ 90,500 | $ 41,000 |
| White, Tennessee | 6 | $ 413,000 | $ 68,833 | $ 25,000 |
| Benton, Tennessee | 5 | $ 233,000 | $ 46,600 | $ 59,000 |
| Bledsoe, Tennessee | 5 | $ 424,000 | $ 84,800 | $ 55,000 |
| Dyer, Tennessee | 5 | $ 295,000 | $ 59,000 | $ 42,000 |
| Sequatchie, Tennessee | 5 | $ 391,000 | $ 78,200 | $ 25,000 |
| Unicoi, Tennessee | 5 | $ 297,000 | $ 59,400 | $ 31,000 |
| Walker, Georgia | 4 | $ 396,000 | $ 99,000 | $ 46,000 |
| Cannon, Tennessee | 4 | $ 197,000 | $ 49,250 | $ 32,000 |
| Fentress, Tennessee | 4 | $ 146,000 | $ 36,500 | $ 76,000 |
| Jackson, Tennessee | 4 | $ 342,000 | $ 85,500 | $ 46,000 |
| Johnson, Tennessee | 4 | $ 248,000 | $ 62,000 | $ 92,000 |
| Meigs, Tennessee | 4 | $ 319,000 | $ 79,750 | $ 31,000 |
| Perry, Tennessee | 4 | $ 225,000 | $ 56,250 | $ 37,000 |
| Catoosa, Georgia | 3 | $ 514,000 | $ 171,333 | $ 59,000 |
| Fulton, Georgia | 3 | $ 311,000 | $ 103,666 | $ 39,000 |
| Warren, Kentucky | 3 | $ 209,000 | $ 69,666 | $ 79,000 |
| Carroll, Tennessee | 3 | $ 165,000 | $ 55,000 | $ 35,000 |
| Franklin, Tennessee | 3 | $ 214,000 | $ 71,333 | $ 31,000 |
| Hardeman, Tennessee | 3 | $ 163,000 | $ 54,333 | $ 23,000 |
| Obion, Tennessee | 3 | $ 185,000 | $ 61,666 | $ 31,000 |
| Polk, Tennessee | 3 | $ 368,000 | $ 122,666 | $ 139,000 |
| Trousdale, Tennessee | 3 | $ 233,000 | $ 77,666 | $ 36,000 |
| Polk, Florida | 2 | $ 180,000 | $ 90,000 | $ 76,000 |
| Grundy, Tennessee | 2 | $ 53,000 | $ 26,500 | $ 20,000 |
| Moore, Tennessee | 2 | $ 114,000 | $ 57,000 | $ 42,000 |
| Scott, Tennessee | 2 | $ 209,000 | $ 104,500 | $ 55,000 |
| Smith, Tennessee | 2 | $ 218,000 | $ 109,000 | $ 48,000 |
| Stafford, Virginia | 2 | $ 617,000 | $ 308,500 | $ 206,000 |
| Sebastian, Arkansas | 1 | $ 67,000 | $ 67,000 | $ 19,000 |
| Los Angeles, California | 1 | $ 160,000 | $ 160,000 | $ 62,000 |
| Miami-Dade, Florida | 1 | $ 279,000 | $ 279,000 | $ 84,000 |
| St. Johns, Florida | 1 | $ 159,000 | $ 159,000 | $ 61,000 |
| Sumter, Florida | 1 | $ 139,000 | $ 139,000 | $ 91,000 |
| Chattooga, Georgia | 1 | $ 86,000 | $ 86,000 | $ 57,000 |
| Gwinnett, Georgia | 1 | $ 383,000 | $ 383,000 | $ 90,000 |
| Will, Illinois | 1 | $ 94,000 | $ 94,000 | $ 114,000 |
| Hamilton, Indiana | 1 | $ 136,000 | $ 136,000 | $ 38,000 |
| Marion, Indiana | 1 | $ 70,000 | $ 70,000 | $ 55,000 |
| Barren, Kentucky | 1 | $ 54,000 | $ 54,000 | $ 170,000 |
| Butler, Kentucky | 1 | $ 72,000 | $ 72,000 | $ 25,000 |
| Christian, Kentucky | 1 | $ 72,000 | $ 72,000 | $ 40,000 |
| Hopkins, Kentucky | 1 | $ 79,000 | $ 79,000 | $ 57,000 |
| Simpson, Kentucky | 1 | $ 86,000 | $ 86,000 | $ 84,000 |
| Whitley, Kentucky | 1 | $ 40,000 | $ 40,000 | $ 45,000 |
| DeSoto, Mississippi | 1 | $ 135,000 | $ 135,000 | $ 53,000 |
| Lucas, Ohio | 1 | $ 106,000 | $ 106,000 | $ 60,000 |
| Decatur, Tennessee | 1 | $ 55,000 | $ 55,000 | $ 60,000 |
| Hancock, Tennessee | 1 | $ 70,000 | $ 70,000 | $ 42,000 |
| Henderson, Tennessee | 1 | $ 47,000 | $ 47,000 | $ 29,000 |
| Overton, Tennessee | 1 | $ 90,000 | $ 90,000 | $ 35,000 |
| Pickett, Tennessee | 1 | $ 53,000 | $ 53,000 | $ 24,000 |
| Stewart, Tennessee | 1 | $ 77,000 | $ 77,000 | $ 34,000 |
| Van Buren, Tennessee | 1 | $ 54,000 | $ 54,000 | $ 55,000 |
| Bristol, Virginia | 1 | $ 59,000 | $ 59,000 | $ 54,000 |
| Scott, Virginia | 1 | $ 78,000 | $ 78,000 | $ 49,000 |
| Smyth, Virginia | 1 | $ 54,000 | $ 54,000 | $ 40,000 |
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 |
|---|---|---|---|---|---|---|
| Refinancing | 1,240 | $124,498,000 | $100,000 | $1,460,000 | $65,000 | $2,313,000 |
| Home Purchase | 1,052 | $90,175,000 | $85,000 | $1,104,000 | $79,000 | $9,999,000 |
| Home Improvement | 240 | $23,053,000 | $96,000 | $810,000 | $62,000 | $1,296,000 |
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 | 1,527 | $142,835,000 | $93,000 | $1,460,000 | $78,000 | $9,999,000 |
| Black or African American | 513 | $45,464,000 | $88,000 | $976,000 | $51,000 | $304,000 |
| Not Provided | 433 | $41,427,000 | $95,000 | $706,000 | $62,000 | $1,296,000 |
| Hispanic | 40 | $6,161,000 | $154,000 | $1,103,000 | $102,000 | $540,000 |
| Asian | 14 | $1,369,000 | $97,000 | $192,000 | $104,000 | $192,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $297,000 | $99,000 | $172,000 | $46,000 | $48,000 |
| American Indian or Alaskan Native | 2 | $173,000 | $86,000 | $100,000 | $115,000 | $144,000 |
| 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) | 2,532 | $237,726,000 | $93,000 | $1,460,000 | $71,000 | $9,999,000 |
| 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 | 959 | $85,254,000 | $88,000 | $810,000 | $81,000 | $9,999,000 |
| Application Denied By Financial Institution | 636 | $55,889,000 | $87,000 | $480,000 | $53,000 | $720,000 |
| Application Withdrawn By Applicant | 486 | $52,264,000 | $107,000 | $1,460,000 | $83,000 | $2,313,000 |
| Application Approved But Not Accepted | 451 | $44,319,000 | $98,000 | $673,000 | $60,000 | $1,080,000 |
| 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 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.
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