The Cit Group/Sales Financing, Mortgage Lending & HMDA Data, 2003
In 2003, The Cit Group/Sales Financing, of Livingston, NJ reported 5,332 mortgage applications totaling $219.0 million. The average application was for $41,063, and applicants reported an average income of $33,958. 15% of its applications resulted in an originated loan and 69% were denied. Its largest markets were Fort Worth-Arlington, TX (459), San Antonio, TX (312) and Dallas, TX (277) (applications in parentheses).
| Mortgage Company & Address | The Cit Group/Sales Financing, 650 Cit Drive Livingston, NJ 07039 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 5,332 |
| Total Mortgage Loan Application Amount | $218,953,000 |
| Average Mortgage Loan Application Amount | $41,063 |
| Highest Mortgage Loan Application Amount | $140,000 |
| Average Applicant Income | $33,958 |
| Highest Applicant Income | $288,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records The Cit Group/Sales Financing, filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Fort Worth-Arlington, TX | 459 | $ 20,901,000 | $ 45,535 | $ 34,000 |
| San Antonio, TX | 312 | $ 13,562,000 | $ 43,467 | $ 33,000 |
| Dallas, TX | 277 | $ 12,523,000 | $ 45,209 | $ 39,000 |
| Austin-San Marcos, TX | 258 | $ 10,895,000 | $ 42,228 | $ 35,000 |
| Houston, TX | 234 | $ 10,678,000 | $ 45,632 | $ 39,000 |
| Beaumont-Port Arthur, TX | 161 | $ 6,242,000 | $ 38,770 | $ 33,000 |
| Oklahoma City, OK | 138 | $ 5,267,000 | $ 38,166 | $ 34,000 |
| Wichita, KS | 132 | $ 5,104,000 | $ 38,666 | $ 34,000 |
| Tulsa, OK | 121 | $ 4,518,000 | $ 37,338 | $ 31,000 |
| Odessa-Midland, TX | 78 | $ 2,882,000 | $ 36,948 | $ 35,000 |
| Portland-Vancouver, OR-WA | 51 | $ 1,989,000 | $ 39,000 | $ 47,000 |
| Brazoria, TX | 45 | $ 2,162,000 | $ 48,044 | $ 35,000 |
| Abilene, TX | 38 | $ 1,571,000 | $ 41,342 | $ 25,000 |
| Killeen-Temple, TX | 37 | $ 1,530,000 | $ 41,351 | $ 27,000 |
| Corpus Christi, TX | 33 | $ 1,376,000 | $ 41,696 | $ 38,000 |
| Denver, CO | 28 | $ 850,000 | $ 30,357 | $ 38,000 |
| Victoria, TX | 25 | $ 1,092,000 | $ 43,680 | $ 34,000 |
| Tyler, TX | 24 | $ 960,000 | $ 40,000 | $ 24,000 |
| Los Angeles-Long Beach, CA | 22 | $ 999,000 | $ 45,409 | $ 55,000 |
| Salt Lake City-Ogden, UT | 20 | $ 666,000 | $ 33,300 | $ 30,000 |
| Panama City, FL | 19 | $ 876,000 | $ 46,105 | $ 39,000 |
| El Paso, TX | 17 | $ 521,000 | $ 30,647 | $ 24,000 |
| Detroit, MI | 16 | $ 504,000 | $ 31,500 | $ 39,000 |
| Riverside-San Bernardino, CA | 16 | $ 669,000 | $ 41,812 | $ 57,000 |
| Salem, OR | 15 | $ 625,000 | $ 41,666 | $ 37,000 |
| Sherman-Denison, TX | 13 | $ 694,000 | $ 53,384 | $ 36,000 |
| Biloxi-Gulfport-Pascagoula, MS | 11 | $ 487,000 | $ 44,272 | $ 49,000 |
| Macon, GA | 11 | $ 430,000 | $ 39,090 | $ 32,000 |
| Pensacola, FL | 11 | $ 782,000 | $ 71,090 | $ 40,000 |
| St. Louis, MO-IL | 11 | $ 319,000 | $ 29,000 | $ 32,000 |
| Florence, SC | 10 | $ 401,000 | $ 40,100 | $ 33,000 |
| Longview-Marshall, TX | 10 | $ 381,000 | $ 38,100 | $ 23,000 |
| Minneapolis-St. Paul, MN-WI | 10 | $ 424,000 | $ 42,400 | $ 36,000 |
| Raleigh-Durham-Chapel Hill, NC | 10 | $ 381,000 | $ 38,100 | $ 27,000 |
| Santa Fe, NM | 10 | $ 303,000 | $ 30,300 | $ 33,000 |
| Shreveport-Bossier City, LA | 10 | $ 429,000 | $ 42,900 | $ 38,000 |
| Bryan-College Station, TX | 9 | $ 389,000 | $ 43,222 | $ 30,000 |
| Mobile, AL | 9 | $ 467,000 | $ 51,888 | $ 36,000 |
| San Angelo, TX | 9 | $ 398,000 | $ 44,222 | $ 23,000 |
| Columbia, SC | 8 | $ 247,000 | $ 30,875 | $ 26,000 |
| Fayetteville, NC | 8 | $ 315,000 | $ 39,375 | $ 35,000 |
| Orange County, CA | 8 | $ 383,000 | $ 47,875 | $ 55,000 |
| San Jose, CA | 8 | $ 725,000 | $ 90,625 | $ 64,000 |
| Albany-Schenectady-Troy, NY | 7 | $ 152,000 | $ 21,714 | $ 25,000 |
| Albuquerque, NM | 7 | $ 266,000 | $ 38,000 | $ 25,000 |
| Lake Charles, LA | 7 | $ 318,000 | $ 45,428 | $ 37,000 |
| Lawrence, KS | 7 | $ 265,000 | $ 37,857 | $ 41,000 |
| Texarkana, TX-AR | 7 | $ 284,000 | $ 40,571 | $ 41,000 |
| Toledo, OH | 7 | $ 250,000 | $ 35,714 | $ 40,000 |
| Lawton, OK | 6 | $ 221,000 | $ 36,833 | $ 53,000 |
| York, PA | 6 | $ 179,000 | $ 29,833 | $ 31,000 |
| Charleston-North Charleston, SC | 5 | $ 161,000 | $ 32,200 | $ 21,000 |
| Greenville, NC | 5 | $ 149,000 | $ 29,800 | $ 29,000 |
| McAllen-Edinburg-Mission, TX | 5 | $ 193,000 | $ 38,600 | $ 38,000 |
| Rochester, NY | 5 | $ 139,000 | $ 27,800 | $ 28,000 |
| Fort Collins-Loveland, CO | 4 | $ 141,000 | $ 35,250 | $ 49,000 |
| Fort Wayne, IN | 4 | $ 156,000 | $ 39,000 | $ 33,000 |
| Galveston-Texas City, TX | 4 | $ 242,000 | $ 60,500 | $ 34,000 |
| Glens Falls, NY | 4 | $ 86,000 | $ 21,500 | $ 23,000 |
| Jackson, MS | 4 | $ 151,000 | $ 37,750 | $ 55,000 |
| Las Cruces, NM | 4 | $ 137,000 | $ 34,250 | $ 34,000 |
| Charlotte-Gastonia-Rock Hill, NC-SC | 3 | $ 148,000 | $ 49,333 | $ 26,000 |
| Cleveland-Lorain-Elyria, OH | 3 | $ 45,000 | $ 15,000 | $ 32,000 |
| Houma, LA | 3 | $ 100,000 | $ 33,333 | $ 32,000 |
| Lakeland-Winter Haven, FL | 3 | $ 163,000 | $ 54,333 | $ 27,000 |
| Las Vegas, NV-AZ | 3 | $ 105,000 | $ 35,000 | $ 33,000 |
| New Orleans, LA | 3 | $ 120,000 | $ 40,000 | $ 33,000 |
| Phoenix-Mesa, AZ | 3 | $ 98,000 | $ 32,666 | $ 39,000 |
| Tampa-St. Petersburg-Clearwater, FL | 3 | $ 109,000 | $ 36,333 | $ 28,000 |
| Wilmington, NC | 3 | $ 127,000 | $ 42,333 | $ 34,000 |
| Atlanta, GA | 2 | $ 98,000 | $ 49,000 | $ 92,000 |
| Bakersfield, CA | 2 | $ 80,000 | $ 40,000 | $ 40,000 |
| Baton Rouge, LA | 2 | $ 103,000 | $ 51,500 | $ 41,000 |
| Brownsville-Harlingen-San Benito, TX | 2 | $ 73,000 | $ 36,500 | $ 70,000 |
| Enid, OK | 2 | $ 96,000 | $ 48,000 | $ 55,000 |
| Fayetteville-Springdale-Rogers, AR | 2 | $ 54,000 | $ 27,000 | $ 23,000 |
| Fort Lauderdale, FL | 2 | $ 88,000 | $ 44,000 | $ 28,000 |
| Fort Smith, AR-OK | 2 | $ 55,000 | $ 27,500 | $ 27,000 |
| Lafayette, LA | 2 | $ 71,000 | $ 35,500 | $ 37,000 |
| Lancaster, PA | 2 | $ 44,000 | $ 22,000 | $ 11,000 |
| Little Rock-North Little Rock, AR | 2 | $ 76,000 | $ 38,000 | $ 22,000 |
| Nashville, TN | 2 | $ 130,000 | $ 65,000 | $ 36,000 |
| Springfield, MO | 2 | $ 76,000 | $ 38,000 | $ 41,000 |
| Tallahassee, FL | 2 | $ 104,000 | $ 52,000 | $ 23,000 |
| Ventura, CA | 2 | $ 84,000 | $ 42,000 | $ 44,000 |
| Youngstown-Warren, OH | 2 | $ 41,000 | $ 20,500 | $ 29,000 |
| Alexandria, LA | 1 | $ 40,000 | $ 40,000 | $ 36,000 |
| Ann Arbor, MI | 1 | $ 70,000 | $ 70,000 | $ 46,000 |
| Bellingham, WA | 1 | $ 18,000 | $ 18,000 | $ 35,000 |
| Billings, MT | 1 | $ 51,000 | $ 51,000 | $ 34,000 |
| Boise City, ID | 1 | $ 16,000 | $ 16,000 | $ 23,000 |
| Chattanooga, TN-GA | 1 | $ 25,000 | $ 25,000 | $ 42,000 |
| Chico-Paradise, CA | 1 | $ 28,000 | $ 28,000 | $ 55,000 |
| Dayton-Springfield, OH | 1 | $ 52,000 | $ 52,000 | $ 59,000 |
| Elkhart-Goshen, IN | 1 | $ 17,000 | $ 17,000 | $ 34,000 |
| Flagstaff, AZ-UT | 1 | $ 31,000 | $ 31,000 | $ 25,000 |
| Fort Pierce-Port St. Lucie, FL | 1 | $ 40,000 | $ 40,000 | $ 30,000 |
| Fort Walton Beach, FL | 1 | $ 76,000 | $ 76,000 | $ 29,000 |
| Fresno, CA | 1 | $ 19,000 | $ 19,000 | $ 78,000 |
| Goldsboro, NC | 1 | $ 44,000 | $ 44,000 | $ 22,000 |
| Greeley, CO | 1 | $ 28,000 | $ 28,000 | $ 38,000 |
| Greenville-Spartanburg-Anderson, SC | 1 | $ 65,000 | $ 65,000 | $ 19,000 |
| Harrisburg-Lebanon-Carlisle, PA | 1 | $ 32,000 | $ 32,000 | $ 45,000 |
| Hattiesburg, MS | 1 | $ 25,000 | $ 25,000 | $ 11,000 |
| Jacksonville, FL | 1 | $ 62,000 | $ 62,000 | $ 14,000 |
| Johnson City-Kingsport-Bristol, TN-VA | 1 | $ 59,000 | $ 59,000 | $ 38,000 |
| Joplin, MO | 1 | $ 44,000 | $ 44,000 | $ 48,000 |
| Lubbock, TX | 1 | $ 39,000 | $ 39,000 | $ 53,000 |
| Medford-Ashland, OR | 1 | $ 45,000 | $ 45,000 | $ 25,000 |
| Myrtle Beach, SC | 1 | $ 35,000 | $ 35,000 | $ 31,000 |
| New London-Norwich, CT-RI | 1 | $ 60,000 | $ 60,000 | $ 44,000 |
| Philadelphia, PA-NJ | 1 | $ 32,000 | $ 32,000 | $ 41,000 |
| Portland, ME | 1 | $ 16,000 | $ 16,000 | $ 69,000 |
| Rocky Mount, NC | 1 | $ 23,000 | $ 23,000 | $ 23,000 |
| Salinas, CA | 1 | $ 35,000 | $ 35,000 | $ 44,000 |
| San Francisco, CA | 1 | $ 37,000 | $ 37,000 | $ 53,000 |
| Sioux City, IA-NE | 1 | $ 43,000 | $ 43,000 | $ 32,000 |
| Vineland-Millville-Bridgeton, NJ | 1 | $ 22,000 | $ 22,000 | $ 30,000 |
| Waco, TX | 1 | $ 59,000 | $ 59,000 | $ 42,000 |
| Wichita Falls, TX | 1 | $ 28,000 | $ 28,000 | $ 30,000 |
| Yuba City, CA | 1 | $ 51,000 | $ 51,000 | $ 61,000 |
Mortgage Loan Application Detail Totals for The Cit Group/Sales Financing, in 2003
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 (one-to-four family) | 5,332 | $218,953,000 | $36,525 | $140,000 | $35,950 | $288,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 0 | $0 | $0 | $0 | $0 | $0 |
| Refinancing (home purchase or home improvement, one-to-four family) | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Improvement (one-to-four family) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 2,853 | $118,035,000 | $37,289 | $140,000 | $38,131 | $288,000 |
| Hispanic | 1,042 | $42,882,000 | $37,500 | $90,000 | $29,909 | $137,000 |
| Information not provided by applicant in mail or telephone application | 811 | $32,832,000 | $38,250 | $109,000 | $35,437 | $143,000 |
| Black | 501 | $20,112,000 | $38,200 | $80,000 | $28,133 | $131,000 |
| American Indian or Alaskan Native | 92 | $3,691,000 | $38,466 | $72,000 | $28,933 | $85,000 |
| Asian or Pacific Islander | 18 | $737,000 | $40,500 | $67,000 | $33,250 | $62,000 |
| Other | 15 | $664,000 | $43,000 | $61,000 | $55,500 | $101,000 |
| 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) | 5,332 | $218,953,000 | $36,525 | $140,000 | $35,950 | $288,000 |
| 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 Denied By Financial Institution | 3,661 | $149,804,000 | $36,916 | $109,000 | $32,638 | $288,000 |
| Loan Originated | 823 | $34,863,000 | $37,428 | $140,000 | $35,142 | $234,000 |
| Application Approved But Not Accepted | 726 | $29,251,000 | $35,906 | $90,000 | $41,625 | $150,000 |
| Application Withdrawn By Applicant | 122 | $5,035,000 | $41,222 | $79,000 | $45,777 | $143,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The 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/Sales Financing,'s 2003 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/Sales Financing,'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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