Cit Bank Mortgage Rates, Fees & Info

Pasadena, CA

LEI: FVPV0TNOIM6NUIE59530

Tax ID: 26-4382801

3.8 stars - out of 5 stars, based on 46 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Bank Data

    Review & Overview

    Cit Bank is a small bank specializing in Refi and Home Purchase loans. Cit Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Los Angeles, San Francisco, San Diego, Seattle, and Riverside among others. We have data for 110 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cit Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Cit Bank is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.28% 10/3/22
    30 Year Conventional Refi 6.29% 10/3/22
    30 Year Cash-out Refi 6.48% 10/3/22
    30 Year FHA Purchase 7.22% 10/3/22
    30 Year FHA Refi 7.04% 10/3/22
    15 Year Conventional Purchase 5.69% 10/3/22
    15 Year Conventional Refi 6.01% 10/3/22
    15 Year Cash-out Refi 6.01% 10/3/22
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    2,144

    Origination Dollar Volume (All Markets)

    $2,323,760,000

    Employee count

    3,285 Show all (17) awards

    Relative Rate

    Cit Bank's average 30 year fixed mortgage rate was 2.91%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.24%.

    Relative Fees (Closing Costs)

    Cit Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $6,705.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 944 $1,052,490,000 $1,114,926 $6,840 2.90%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 146 $181,700,000 $1,244,521 $6,950 3.05%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 144 $156,670,000 $1,087,986 $6,476 2.83%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 68 $116,120,000 $1,707,647 $7,642 2.89%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 94 $99,850,000 $1,062,234 $6,674 2.78%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 70 $68,220,000 $974,571 $6,505 2.86%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 53 $59,985,000 $1,131,792 $6,086 3.05%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 40 $52,700,000 $1,317,500 $7,974 3.04%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $45,080,000 $11,270,000 $6,252 2.64%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 36 $40,540,000 $1,126,111 $6,857 3.01%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 41 $34,145,000 $832,805 $4,639 2.79%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 40 $33,050,000 $826,250 $4,854 2.64%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 37 $29,595,000 $799,865 $7,250 2.60%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 30 $28,920,000 $964,000 $5,146 2.76%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 29 $24,665,000 $850,517 $4,660 2.89%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 24 $22,610,000 $942,083 $6,807 2.93%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $20,605,000 $20,605,000 $0 2.45%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 22 $15,830,000 $719,545 $4,624 2.91%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 22 $15,830,000 $719,545 $6,918 2.65%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 24 $12,160,000 $506,667 $3,866 2.72%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 15 $10,925,000 $728,333 $5,020 2.67%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 12 $9,610,000 $800,833 $4,708 2.74%
    URBAN HONOLULU, HI (FHA|USDA|VA) 7 $9,605,000 $1,372,143 $9,127 2.72%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 13 $9,415,000 $724,231 $6,085 2.63%
    SALINAS, CA (FHA|USDA|VA) 9 $8,865,000 $985,000 $7,603 2.98%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 10 $6,900,000 $690,000 $7,675 2.72%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 10 $6,770,000 $677,000 $6,109 2.90%
    RALEIGH-CARY, NC (FHA|USDA|VA) 9 $6,215,000 $690,556 $5,635 2.80%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 3 $6,145,000 $2,048,333 $5,285 2.48%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 8 $5,900,000 $737,500 $4,192 2.78%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 6 $5,680,000 $946,667 $5,150 3.07%
    Outside of Metro Areas 9 $5,625,000 $625,000 $4,162 2.95%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 6 $5,330,000 $888,333 $6,997 2.52%
    SALT LAKE CITY, UT (FHA|USDA|VA) 6 $5,110,000 $851,667 $7,110 2.58%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 8 $5,030,000 $628,750 $8,026 2.59%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 5 $4,905,000 $981,000 $6,616 3.18%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 5 $4,385,000 $877,000 $7,858 2.72%
    SANTA FE, NM (FHA|USDA|VA) 5 $3,985,000 $797,000 $6,402 2.69%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 6 $3,830,000 $638,333 $3,973 2.73%
    RENO, NV (FHA|USDA|VA) 6 $3,720,000 $620,000 $3,926 2.67%
    FRESNO, CA (FHA|USDA|VA) 7 $3,695,000 $527,857 $4,607 2.88%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 4 $3,610,000 $902,500 $4,518 2.86%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 3 $3,005,000 $1,001,667 $7,777 3.16%
    VALLEJO, CA (FHA|USDA|VA) 3 $2,635,000 $878,333 $4,230 2.95%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 3 $2,565,000 $855,000 $6,067 2.98%
    PROVO-OREM, UT (FHA|USDA|VA) 3 $2,515,000 $838,333 $7,019 2.50%
    NAPA, CA (FHA|USDA|VA) 2 $2,310,000 $1,155,000 $10,999 3.09%
    Edwards, CO (FHA|USDA|VA) 2 $2,280,000 $1,140,000 $6,648 2.85%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 2 $2,060,000 $1,030,000 $5,475 2.51%
    Ellensburg, WA (FHA|USDA|VA) 2 $1,920,000 $960,000 $7,479 3.18%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $1,900,000 $950,000 $7,593 2.73%
    Steamboat Springs, CO (FHA|USDA|VA) 1 $1,805,000 $1,805,000 $9,112 3.25%
    Oak Harbor, WA (FHA|USDA|VA) 2 $1,790,000 $895,000 $6,851 3.03%
    BOULDER, CO (FHA|USDA|VA) 2 $1,690,000 $845,000 $5,261 3.01%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 3 $1,675,000 $558,333 $6,337 2.68%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $1,630,000 $815,000 $6,212 3.10%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 2 $1,620,000 $810,000 $4,075 2.54%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 2 $1,600,000 $800,000 $11,369 3.29%
    Heber, UT (FHA|USDA|VA) 2 $1,530,000 $765,000 $6,018 2.81%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $7,579 2.68%
    GREELEY, CO (FHA|USDA|VA) 2 $1,500,000 $750,000 $5,358 2.49%
    BEND, OR (FHA|USDA|VA) 2 $1,490,000 $745,000 $6,423 3.08%
    STOCKTON, CA (FHA|USDA|VA) 2 $1,470,000 $735,000 $4,449 3.14%
    Breckenridge, CO (FHA|USDA|VA) 1 $1,455,000 $1,455,000 $6,055 3.18%
    BAKERSFIELD, CA (FHA|USDA|VA) 2 $1,320,000 $660,000 $5,658 3.38%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $1,280,000 $640,000 $2,995 2.58%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $1,165,000 $1,165,000 $6,611 2.70%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 3 $1,125,000 $375,000 $3,642 2.52%
    Boone, NC (FHA|USDA|VA) 1 $1,125,000 $1,125,000 $5,582 2.83%
    ASHEVILLE, NC (FHA|USDA|VA) 2 $1,080,000 $540,000 $4,159 2.98%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $1,050,000 $525,000 $3,416 2.71%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $1,045,000 $1,045,000 $13,804 2.55%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $1,045,000 $1,045,000 $3,474 2.60%
    REDDING, CA (FHA|USDA|VA) 2 $1,040,000 $520,000 $8,031 3.05%
    SALEM, OR (FHA|USDA|VA) 2 $1,000,000 $500,000 $9,459 2.89%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $995,000 $995,000 $3,324 2.95%
    ROANOKE, VA (FHA|USDA|VA) 2 $970,000 $485,000 $5,458 3.01%
    Ukiah, CA (FHA|USDA|VA) 1 $935,000 $935,000 $15,775 3.15%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $925,000 $925,000 $8,318 2.70%
    APPLETON, WI (FHA|USDA|VA) 1 $925,000 $925,000 $5,405 3.38%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $875,000 $875,000 $4,661 2.28%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $865,000 $865,000 $4,487 2.98%
    KNOXVILLE, TN (FHA|USDA|VA) 2 $850,000 $425,000 $6,313 3.20%
    TULSA, OK (FHA|USDA|VA) 1 $825,000 $825,000 $6,858 3.00%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $820,000 $410,000 $5,208 2.90%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $805,000 $805,000 $7,591 2.95%
    MODESTO, CA (FHA|USDA|VA) 2 $770,000 $385,000 $2,880 2.79%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $755,000 $755,000 $10,968 2.78%
    Morehead City, NC (FHA|USDA|VA) 1 $745,000 $745,000 $8,034 2.63%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $715,000 $715,000 $3,449 2.78%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $665,000 $665,000 $6,747 2.75%
    CHICO, CA (FHA|USDA|VA) 1 $665,000 $665,000 $4,018 3.65%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $650,000 $325,000 $4,902 2.63%
    Gardnerville Ranchos, NV (FHA|USDA|VA) 1 $645,000 $645,000 $3,507 3.08%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $645,000 $645,000 $3,335 2.90%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $635,000 $635,000 $3,425 2.73%
    BELLINGHAM, WA (FHA|USDA|VA) 1 $635,000 $635,000 $3,796 2.75%
    RICHMOND, VA (FHA|USDA|VA) 1 $625,000 $625,000 $13,016 2.68%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $615,000 $615,000 $6,642 2.45%
    COLUMBIA, SC (FHA|USDA|VA) 1 $605,000 $605,000 $3,339 2.93%
    COLUMBUS, GA-AL (FHA|USDA|VA) 1 $575,000 $575,000 $5,078 2.48%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $555,000 $555,000 $3,933 2.70%
    TUCSON, AZ (FHA|USDA|VA) 1 $545,000 $545,000 $3,317 3.08%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $545,000 $545,000 $5,224 2.53%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $535,000 $535,000 $5,615 1.93%
    HUNTSVILLE, AL (FHA|USDA|VA) 1 $485,000 $485,000 $4,169 3.00%
    MUSKEGON, MI (FHA|USDA|VA) 1 $395,000 $395,000 $3,370 2.73%
    LINCOLN, NE (FHA|USDA|VA) 2 $340,000 $170,000 $2,746 2.86%
    WICHITA, KS (FHA|USDA|VA) 1 $305,000 $305,000 $3,180 1.99%
    Lexington, NE (FHA|USDA|VA) 1 $75,000 $75,000 $3,498 3.19%

    Cit Bank's top markets include Los Angeles, San Francisco, San Diego, Seattle, and Riverside among others.

    Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,091 $2,298,915,000 $1,099,433 $6,269 2.88%
    FHA 53 $24,845,000 $468,774 $16,420 2.77%

    For 2021, Cit Bank's most frequently originated type of loan was Conventional, with 2,091 originations. Their 2nd most popular type was FHA, with 53 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,362 $1,289,290,000 $946,615 $5,454 2.84%
    Home Purchase 570 $740,150,000 $1,298,509 $9,412 2.90%
    Cash Out Refi 195 $277,335,000 $1,422,231 $5,560 3.07%
    Other 17 $16,985,000 $999,118 $5,181 2.91%

    For 2021, Cit Bank's most frequently cited loan purpose was Refi, with 1,362 originations. The 2nd most popular reason was Home Purchase, with 570 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,019 $2,257,425,000 $1,118,091 $6,705 2.91%
    15 Year 103 $50,295,000 $488,301 $3,813 2.29%
    20 Year 13 $4,455,000 $342,692 $3,014 2.79%
    10 Year 5 $1,965,000 $393,000 $3,317 2.85%
    Other 4 $9,620,000 $2,405,000 $2,687 2.71%

    For 2021, Cit Bank's most frequently cited loan duration was 30 Year, with 2,019 originations. The 2nd most popular length was 15 Year, with 103 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,482 $1,383,000,000 $933,198
    $5k+ 274 $309,380,000 $1,129,124
    $3k-4k 102 $92,690,000 $908,725
    $2k-3k 91 $77,965,000 $856,758
    $4k-5k 75 $72,715,000 $969,533
    $<1k 60 $47,550,000 $792,500

    Cit Bank's average total fees were $6,705, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,482 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,150 $1,161,620,000 $1,010,104
    3-4% 702 $842,480,000 $1,200,114
    <2.5% 286 $313,910,000 $1,097,587
    4-5% 6 $5,750,000 $958,333

    During 2021, Cit Bank's average interest rate for loans was 2.91%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,150 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 840 $1,439,250,000 $1,713,393 $8,214 2.97%
    $600k-1MM 837 $686,915,000 $820,687 $5,803 2.87%
    $400k-600k 282 $144,680,000 $513,050 $5,336 2.69%
    $200k-400k 161 $49,695,000 $308,665 $4,705 2.73%
    $100k-200k 18 $2,760,000 $153,333 $3,191 3.04%
    $100,000 or less 6 $460,000 $76,667 $3,150 2.97%

    2021 saw Cit Bank place emphasis on $1MM+ loans with 840 originations, totaling $1,439,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 1,074 $1,263,320,000 $1,176,276 $7,065 2.90%
    $150k-250k 663 $554,185,000 $835,875 $5,967 2.87%
    $100k-150k 169 $94,895,000 $561,509 $5,834 2.73%
    $75k-100k 78 $33,210,000 $425,769 $6,903 2.74%
    $50k-75k 66 $22,770,000 $345,000 $6,096 2.78%
    $50k or less 25 $9,215,000 $368,600 $3,557 2.91%

    Cit Bank lent most frequently to those with incomes in the $250k+ range, with 1,074 originations. The second most popular income band? $150k-250k, with 663 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 549 $514,805,000 $937,714 $5,796 2.85%
    30-36% 412 $401,230,000 $973,859 $6,062 2.88%
    <20% 185 $169,845,000 $918,081 $6,303 2.74%
    44% 92 $94,310,000 $1,025,109 $8,060 3.03%
    42% 90 $96,640,000 $1,073,778 $8,110 2.89%
    43% 86 $84,360,000 $980,930 $6,761 2.90%
    37% 79 $79,085,000 $1,001,076 $6,639 2.92%
    40% 73 $70,415,000 $964,589 $6,594 2.86%
    41% 73 $70,985,000 $972,397 $6,819 2.91%
    36% 71 $63,125,000 $889,085 $6,039 2.89%
    38% 65 $69,195,000 $1,064,538 $6,829 2.96%
    39% 60 $66,670,000 $1,111,167 $6,345 2.91%
    50-60% 52 $48,110,000 $925,192 $11,420 2.74%
    45% 44 $39,840,000 $905,455 $7,356 2.83%
    46% 40 $28,200,000 $705,000 $7,430 2.93%
    49% 34 $19,450,000 $572,059 $7,218 2.84%
    47% 30 $23,880,000 $796,000 $7,116 2.77%
    48% 26 $19,270,000 $741,154 $5,951 2.87%
    >60% 22 $22,930,000 $1,042,273 $5,210 2.65%

    Cit Bank lent most frequently to those with DTI ratios of 20-30%, with 549 originations. The next most common DTI ratio? 30-36%, with 412 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,315 $1,252,885,000 $952,764 $6,640 2.87%
    Not provided 417 $440,975,000 $1,057,494 $6,771 2.92%
    Not applicable 50 $306,980,000 $6,139,600 $0 3.15%
    Asian 264 $236,010,000 $893,977 $5,808 2.77%
    Black 42 $38,240,000 $910,476 $7,115 2.99%
    Asian Indian 35 $30,475,000 $870,714 $5,239 2.63%
    American Indian 7 $6,145,000 $877,857 $4,177 2.89%
    Native Hawaiian or Islander 2 $2,750,000 $1,375,000 $6,007 2.89%
    Other Asian 3 $2,595,000 $865,000 $4,855 2.58%
    Korean 3 $2,005,000 $668,333 $4,191 2.85%
    Chinese 3 $1,995,000 $665,000 $3,793 2.99%
    Vietnamese 1 $955,000 $955,000 $9,937 3.05%
    Other Pacific Islander 1 $925,000 $925,000 $5,426 2.68%
    Filipino 1 $825,000 $825,000 $3,374 2.53%

    Approval Rates

    Total approvals of all applications
    85.40%

    Cit Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.38%

    Cit Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,144 $2,323,760,000 $1,083,843

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,144 $2,323,760,000 $1,083,843

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 156 $110,460,000 $708,077 $4,830 2.71%
    40-60% 485 $550,515,000 $1,135,082 $5,657 2.86%
    60-80% 1,186 $1,378,590,000 $1,162,386 $6,417 2.90%
    80-100% 307 $280,185,000 $912,655 $9,156 2.90%
    Under 20% 10 $4,010,000 $401,000 $3,335 2.93%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    CATHAY BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    CATHAY BANK Conventional home mortgage Trouble during payment process 2 50.0%
    CATHAY BANK Home equity loan or line of credit (HELOC) Closing on a mortgage 1 25.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Cit Bank, National Association 10784 Jefferson Blvd Culver City, CA 90230 Full Service B&M $183,207
    Cit Bank, National Association 17050 Ventura Blvd Encino, CA 91316 Full Service B&M $244,682
    Cit Bank, National Association 17245 17th Street, Suite B Tustin, CA 92780 Full Service B&M $127,693
    Cit Bank, National Association 1727 East Daily Drive Suite A & B Camarillo, CA 93010 Full Service B&M $121,965
    Cit Bank, National Association 1750 Ocean Park Blvd Santa Monica, CA 90405 Full Service B&M $206,096
    Cit Bank, National Association 1770 San Marco Road Marco Island, FL 34145 Full Service B&M $75,086
    Cit Bank, National Association 18585 Ventura Boulevard Tarzana, CA 91356 Full Service B&M $193,341
    Cit Bank, National Association 1870 S. Elena Ave. Redondo Beach, CA 90277 Full Service B&M $136,577
    Cit Bank, National Association 19432 North R H Johnson Boulevard Sun City West, AZ 85375 Full Service B&M $68,282
    Cit Bank, National Association 199 E. Thousand Oaks Blvd. Thousand Oaks, CA 91360 Full Service B&M $112,894
    Cit Bank, National Association 20505 Devonshire Street Chatsworth, CA 91311 Full Service B&M $108,702
    Cit Bank, National Association 2111 Bonita Avenue La Verne, CA 91750 Full Service B&M $284,564
    Cit Bank, National Association 2920 North Beverly Glen Circle Los Angeles, CA 90077 Full Service B&M $127,807
    Cit Bank, National Association 300 W Grand Ave Suite 100a Escondido, CA 92025 Full Service B&M $187,153
    Cit Bank, National Association 3000 South Sepulveda Boulevard Los Angeles, CA 90034 Full Service B&M $309,919
    Cit Bank, National Association 30019 Hawthorne Blvd. Rancho Palos Verdes, CA 90275 Full Service Retail $73,890
    Cit Bank, National Association 3100 Needles Highway, Ste 100 Laughlin, NV 89029 Full Service B&M $111,152
    Cit Bank, National Association 3333 Farnam Street Omaha, NE 68131 Full Service B&M $68,045
    Cit Bank, National Association 3410 Grand Ave., Suite A Chino Hills, CA 91709 Full Service B&M $194,322
    Cit Bank, National Association 3422 W Carson Street Torrance, CA 90503 Full Service B&M $227,758
    Cit Bank, National Association 3500 East 7th Street Long Beach, CA 90804 Full Service B&M $138,394
    Cit Bank, National Association 351 South Vermont Ave Los Angeles, CA 90020 Full Service B&M $67,017
    Cit Bank, National Association 3580 Carmel Mountain Rd, Ste 160 San Diego, CA 92130 Full Service B&M $15,040
    Cit Bank, National Association 7320 Firestone Blvd Suite 101 Downey, CA 90241 Full Service B&M $97,333
    Cit Bank, National Association 7373 North Scottsdale Road, Ste A195 Scottsdale, AZ 85253 Full Service B&M $79,789
    Cit Bank, National Association 75 N Fair Oaks Ave Pasadena, CA 91103 Full Service Cyber Office $42,796
    Cit Bank, National Association 78010 Main St Ste 100 La Quinta, CA 92253 Full Service B&M $92,746
    Cit Bank, National Association 7872 Valley View Street Buena Park, CA 90620 Full Service B&M $81,698
    Cit Bank, National Association 8580 North Oracle Road Tucson, AZ 85704 Full Service B&M $34,342
    Cit Bank, National Association 8653 Beverly Boulevard West Hollywood, CA 90048 Full Service B&M $217,989
    Cit Bank, National Association 8726 Tampa Avenue Northridge, CA 91324 Full Service B&M $161,336
    Cit Bank, National Association 8750 South Sepulveda Boulevard Unit P Los Angeles, CA 90045 Full Service B&M $194,179
    Cit Bank, National Association 888 Prospect Street Ste 140 La Jolla, CA 92037 Full Service B&M $228,866
    Cit Bank, National Association 95 South Lake Ave Pasadena, CA 91103 Full Service B&M $14,579,200
    Cit Bank, National Association 1001 N. San Fernando Blvd Ste 150 Burbank, CA 91504 Full Service B&M $128,164
    Cit Bank, National Association 220 N. Hacienda Blvd. City Of Industry, CA 91744 Full Service B&M $83,861
    Cit Bank, National Association 2233 Artesia Boulevard Redondo Beach, CA 90278 Full Service B&M $110,052
    Cit Bank, National Association 2233 S. Hacienda Blvd. Hacienda Heights, CA 91745 Full Service B&M $250,883
    Cit Bank, National Association 225 North Barranca Street West Covina, CA 91791 Full Service B&M $173,377
    Cit Bank, National Association 2300 Pacific Coast Highway Lomita, CA 90717 Full Service B&M $258,606
    Cit Bank, National Association 2360 Corporate Circle Henderson, NV 89074 Full Service B&M $80,549
    Cit Bank, National Association 24191 Paseo Del Valencia Suite A Laguna Woods, CA 92637 Full Service B&M $265,995
    Cit Bank, National Association 2450 Broadway Suite 450 Santa Monica, CA 90404 Full Service Cyber Office $16,710,417
    Cit Bank, National Association 2549 Huntington Dr, Unit 103 San Marino, CA 91108 Full Service B&M $217,702
    Cit Bank, National Association 27620 Marguerite Pkwy Suite G Mission Viejo, CA 92692 Full Service B&M $134,656
    Cit Bank, National Association 2827 Main Street Santa Monica, CA 90405 Full Service B&M $106,284
    Cit Bank, National Association 3700 E. Coast Highway Corona Del Mar, CA 92625 Full Service B&M $114,068
    Cit Bank, National Association 400 North La Brea Avenue Los Angeles, CA 90036 Full Service B&M $268,321
    Cit Bank, National Association 4001 W 114th St, Ste 110 Leawood, KS 66211 Full Service B&M $2
    Cit Bank, National Association 401 Wilshire Boulevard Santa Monica, CA 90401 Full Service B&M $335,703
    Cit Bank, National Association 44495 Town Center Way Ste A Palm Desert, CA 92260 Full Service B&M $214,408
    Cit Bank, National Association 4950 S. 48th Street Phoenix, AZ 85040 Limited, Administrative $0
    Cit Bank, National Association 5370 Kietzke Lane Reno, NV 89511 Full Service B&M $95,044
    Cit Bank, National Association 555 West Chandler Boulevard, Suite 100 Chandler, AZ 85225 Full Service B&M $63,287
    Cit Bank, National Association 5573 Sepulveda Boulevard Culver City, CA 90230 Full Service B&M $155,172
    Cit Bank, National Association 5675 Dtc Blvd, Ste 100 Greenwood Village, CO 80111 Limited, Drive-thru $10
    Cit Bank, National Association 5701 North Kanan Road Agoura Hills, CA 91301 Full Service B&M $149,683
    Cit Bank, National Association 5701 South Eastern Ave. Ste 108 Commerce, CA 90040 Full Service B&M $18,929
    Cit Bank, National Association 5791 Alton Parkway Irvine, CA 92618 Full Service B&M $154,036
    Cit Bank, National Association 5950 Sherry Lane, Suite 100 Dallas, TX 75225 Full Service B&M $44,782
    Cit Bank, National Association 600 Kapiolani Blvd, Ste 203 Honolulu, HI 96813 Full Service B&M $40
    Cit Bank, National Association 600 West Route 66 Glendora, CA 91740 Full Service B&M $177,553
    Cit Bank, National Association 6009 Paseo Delicias Suite A Rancho Santa Fe, CA 92067 Full Service B&M $107,540
    Cit Bank, National Association 6128 Telegraph Rd Ste A Ventura, CA 93003 Full Service B&M $119,288
    Cit Bank, National Association 625 9th Street North, Ste 101 Naples, FL 34102 Full Service B&M $30,296
    Cit Bank, National Association 6298 E. Grant Road, Ste 140 Tucson, AZ 85712 Full Service B&M $62,304
    Cit Bank, National Association 704 S State College Blvd Anaheim, CA 92806 Full Service B&M $61,014
    Cit Bank, National Association 7061 Yorktown Avenue Suite 103 Huntington Beach, CA 92648 Full Service B&M $155,343
    Cit Bank, National Association 950 South Rampart Blvd Las Vegas, NV 89145 Full Service B&M $90,814
    Cit Bank, National Association 9550 S. Santa Monica Blvd Beverly Hills, CA 90210 Full Service B&M $181,007
    Cit Bank, National Association 960 S. Westlake Blvd., Suite 1 & 2 Westlake Village, CA 91361 Full Service B&M $76,882
    Cit Bank, National Association 9618 W Pico Blvd Ste 504 Los Angeles, CA 90035 Full Service B&M $170,842
    Cit Bank, National Association 9950 South Laurel Street Los Angeles, CA 90002 Full Service B&M $463
    Cit Bank, National Association One East Foothill Blvd. Arcadia, CA 91006 Full Service B&M $295,846
    Cit Bank, National Association 1111 N. Brand Blvd Ste A Glendale, CA 91202 Full Service B&M $132,951
    Cit Bank, National Association 11660 South St. Suite 101 Artesia, CA 90701 Full Service B&M $127,836
    Cit Bank, National Association 12307 West Center Road Omaha, NE 68144 Full Service B&M $36,355
    Cit Bank, National Association 12401 Wilshire Blvd. Los Angeles, CA 90025 Full Service B&M $177,972
    Cit Bank, National Association 13405 Washington Boulevard Marina Del Rey, CA 90292 Full Service B&M $98,219
    Cit Bank, National Association 1475 Huntington Drive Duarte, CA 91010 Full Service B&M $101,645
    Cit Bank, National Association 15135 Sunset Blvd Pacific Palisades, CA 90272 Full Service B&M $217,321
    Cit Bank, National Association 1570 Rosecrans Ave. Suite F Manhattan Beach, CA 90266 Full Service B&M $127,723
    Cit Bank, National Association 15950 West Dodge Road Omaha, NE 68118 Full Service B&M $112,738
    Cit Bank, National Association 1630 Montana Ave Santa Monica, CA 90403 Full Service B&M $193,466

    For 2021, Cit Bank had 84 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $1,427,572
    Net interest income $1,195,109
    Total noninterest income $918,020
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $11,696
    Trading account gains and fees $18,205
    Additional Noninterest Income $888,119
    Pre-tax net operating income $1,081,086
    Securities gains (or losses, -) $113,820
    Income before extraordinary items $884,742
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $884,742
    Minority interest net income $0
    Net income $884,742
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $794,824

    Cit Bank's gross interest income from loans was $1,427,572,000.
    Cit Bank's net interest income from loans was $1,195,109,000.
    Cit Bank's fee based income from loans was $11,696,000.
    Cit Bank's net income from loans was $884,742,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $232,463
    Provision for credit losses $-283,162
    Total noninterest expense $1,315,205
    Salaries and employee benefits $515,379
    Premises and equipment expense $60,014
    Additional noninterest expense $739,812
    Applicable income taxes $310,164
    Net charge-offs $64,440
    Cash dividends $250,000

    Cit Bank's interest expense for loans was $232,463,000.
    Cit Bank's payroll and benefits expense were $515,379,000.
    Cit Bank's property, plant and equipment expenses $60,014,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 1.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 9.0%
    All other family 0.0%
    Commercial & industrial loans 2.0%
    Personal loans 10.0%
    Credit card loans 0.0%
    Other individual loans 10.0%
    Auto loans 0.0%
    Other consumer loans 11.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $40,214,687
    Deposits held in domestic offices $40,214,687
    Deposits by Individuals, partnerships, and corporations $39,683,097
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $411,764
    Deposits by Commercial banks and other depository institutions in U.S. $119,823
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $3
    Transaction accounts $1,552,087
    Demand deposits $1,552,087
    Nontransaction accounts $38,662,600
    Money market deposit accounts (MMDAs) $21,233,909
    Other savings deposits (excluding MMDAs) $9,904,541
    Total time deposits $7,524,150
    Total time and savings deposits $38,662,600
    Noninterest-bearing deposits $3,878,890
    Interest-bearing deposits $36,335,797
    Retail deposits $37,562,383
    IRAs and Keogh plan accounts $737,031
    Brokered deposits $1,461,609
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $47,562,923
    Cash & Balances due from depository institutions $2,796,310
    Interest-bearing balances $2,690,064
    Total securities $6,580,892
    Federal funds sold & reverse repurchase $0
    Net loans and leases $29,729,745
    Loan and leases loss allowance $702,673
    Trading account assets $220,482
    Bank premises and fixed assets $235,939
    Other real estate owned $7,242
    Goodwill and other intangibles $105,126
    All other assets $7,887,187

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $47,562,923
    Total Liabilities $42,188,978
    Total deposits $40,214,687
    Interest-bearing deposits $36,335,797
    Deposits held in domestic offices $40,214,687
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $77,435
    Other borrowed funds $329,702
    Subordinated debt $300,000
    All other liabilities $1,267,154

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $29,729,745
    Loan and leases loss allowance $702,673
    Total loans and leases (domestic) $30,432,418
    All real estate loans $14,251,131
    Real estate loans in domestic offices $14,251,131
    Construction and development loans $1,450,865
    Residential 1-4 family construction $121,784
    Other construction, all land development and other land $1,329,081
    Loans secured by nonfarm nonresidential properties $5,516,098
    Nonfarm nonresidential secured by owner-occupied properties $1,394,018
    Commercial real estate & other non-farm, non-residential $4,122,080
    Multifamily residential real estate $2,050,835
    1-4 family residential loans $5,233,097
    Farmland loans $236
    Loans held in foreign offices $0
    Farm loans $47,618
    Commercial and industrial loans $10,953,240
    To non-U.S. addressees $211,249
    Loans to individuals $2,770
    Credit card loans $0
    Related Plans $1,828
    Consumer Auto Loans $29
    Other loans to individuals $913
    All other loans & leases $5,177,659
    Loans to foreign governments and official institutions $0
    Other loans $3,114,836
    Loans to depository institutions and acceptances of other banks $5,132
    Loans not secured by real estate $32,756
    Loans secured by real estate to non-U.S. addressees $14,145
    Restructured Loans & leases $66,240
    Non 1-4 family restructured loans & leases $46,490
    Total loans and leases (foreign) $0

    CIT Bank had $29,729,745,000 of loans outstanding in 2021. $14,251,131,000 of loans were in real estate loans. $1,450,865,000 of loans were in development loans. $2,050,835,000 of loans were in multifamily mortgage loans. $5,233,097,000 of loans were in 1-4 family mortgage loans. $47,618,000 of loans were in farm loans. $0 of loans were in credit card loans. $29,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 486 $239,401 $492,595
    Nonfarm, nonresidential loans - <$100k 9 $420 $46,667
    Nonfarm, nonresidential loans - $100-250k 49 $7,150 $145,918
    Nonfarm, nonresidential loans - $250k-1MM 428 $231,831 $541,661
    Commercial & Industrial, US addressed loans - <$1MM 71,565 $2,439,116 $34,083
    Commercial & Industrial, US addressed loans - <$100k 61,094 $1,161,834 $19,017
    Commercial & Industrial, US addressed loans - $100-250k 8,461 $791,350 $93,529
    Commercial & Industrial, US addressed loans - $250k-1MM 2,010 $485,932 $241,757
    Farmland loans - <$1MM 1 $236 $236,000
    Farmland loans - $250k-1MM 1 $236 $236,000
    Agriculture operations loans - <$1MM 1,490 $46,318 $31,086
    Agriculture operations loans - <$100k 1,344 $27,742 $20,641
    Agriculture operations loans - $100-250k 129 $14,604 $113,209
    Agriculture operations loans - $250k-1MM 17 $3,972 $233,647