Cit Bank Mortgage Rates, Fees & Info

Pasadena, CA

LEI: FVPV0TNOIM6NUIE59530

Tax ID: 26-4382801

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Bank Data

Review & Overview

Cit Bank is a small bank specializing in Home Purchase, Refi, and Cash Out Refi 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, Seattle, San Francisco, San Diego, and Tampa among others. We have data for 127 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 an average 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.

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Originations

2,204

Origination Dollar Volume (All Markets)

$2,363,210,000

Employee count

3,146 Show all (19) awards

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) 737 $892,925,000 $1,211,567 $5,645 3.97%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 173 $150,825,000 $871,821 $5,377 3.85%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 137 $147,585,000 $1,077,263 $4,959 4.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 134 $128,510,000 $959,030 $5,384 3.90%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 10 $116,590,000 $11,659,000 $4,687 3.88%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 56 $98,630,000 $1,761,250 $5,475 3.90%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 23 $92,295,000 $4,012,826 $6,153 3.67%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 62 $81,360,000 $1,312,258 $4,762 4.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 68 $62,610,000 $920,735 $4,154 3.91%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 64 $46,050,000 $719,531 $4,648 3.72%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 63 $44,985,000 $714,048 $4,824 4.17%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 44 $41,790,000 $949,773 $4,579 4.00%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 44 $41,230,000 $937,045 $5,152 4.13%
KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $36,695,000 $7,339,000 $3,076 3.93%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 48 $35,700,000 $743,750 $4,349 3.75%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 45 $33,015,000 $733,667 $6,066 4.00%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 37 $30,475,000 $823,649 $4,499 3.92%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 26 $18,380,000 $706,923 $4,333 3.75%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 30 $16,180,000 $539,333 $5,711 3.76%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 32 $13,790,000 $430,938 $3,464 3.72%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 22 $13,390,000 $608,636 $4,401 3.69%
BOULDER, CO (FHA|USDA|VA) 13 $12,285,000 $945,000 $4,236 3.64%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 17 $12,155,000 $715,000 $3,827 3.77%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 20 $11,680,000 $584,000 $6,160 3.51%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 17 $11,035,000 $649,118 $3,614 3.72%
SALT LAKE CITY, UT (FHA|USDA|VA) 16 $10,150,000 $634,375 $4,490 3.72%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 16 $9,910,000 $619,375 $4,994 3.70%
SALINAS, CA (FHA|USDA|VA) 12 $9,480,000 $790,000 $7,010 4.43%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 13 $8,725,000 $671,154 $4,562 3.76%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 14 $8,000,000 $571,429 $6,058 3.56%
RALEIGH-CARY, NC (FHA|USDA|VA) 13 $7,105,000 $546,538 $3,771 3.90%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 7 $6,315,000 $902,143 $5,376 4.24%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 7 $5,505,000 $786,429 $10,727 3.77%
BEND, OR (FHA|USDA|VA) 7 $4,875,000 $696,429 $7,859 4.20%
Outside of Metro Areas 7 $4,325,000 $617,857 $6,237 3.92%
RENO, NV (FHA|USDA|VA) 6 $3,880,000 $646,667 $6,707 3.45%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 8 $3,670,000 $458,750 $5,612 4.02%
PROVO-OREM, UT (FHA|USDA|VA) 6 $3,500,000 $583,333 $3,561 3.77%
URBAN HONOLULU, HI (FHA|USDA|VA) 2 $3,380,000 $1,690,000 $6,005 3.36%
FRESNO, CA (FHA|USDA|VA) 6 $3,330,000 $555,000 $3,749 3.96%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 4 $3,150,000 $787,500 $3,130 4.08%
Heber, UT (FHA|USDA|VA) 3 $3,075,000 $1,025,000 $5,046 4.11%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 4 $3,050,000 $762,500 $3,815 3.80%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 5 $3,025,000 $605,000 $4,343 4.13%
Glenwood Springs, CO (FHA|USDA|VA) 1 $2,945,000 $2,945,000 $9,744 3.98%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $2,620,000 $1,310,000 $4,567 3.40%
NAPA, CA (FHA|USDA|VA) 3 $2,475,000 $825,000 $3,543 3.77%
STOCKTON, CA (FHA|USDA|VA) 4 $2,370,000 $592,500 $4,611 3.89%
TUCSON, AZ (FHA|USDA|VA) 3 $2,065,000 $688,333 $4,786 3.58%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 3 $2,055,000 $685,000 $3,942 3.64%
SANTA FE, NM (FHA|USDA|VA) 2 $2,050,000 $1,025,000 $5,631 4.04%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $1,935,000 $645,000 $4,710 3.72%
TOLEDO, OH (FHA|USDA|VA) 3 $1,795,000 $598,333 $2,897 3.75%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 4 $1,720,000 $430,000 $4,630 3.75%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 3 $1,695,000 $565,000 $4,379 3.98%
VALLEJO, CA (FHA|USDA|VA) 3 $1,665,000 $555,000 $5,415 4.62%
Edwards, CO (FHA|USDA|VA) 1 $1,545,000 $1,545,000 $8,461 4.18%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 3 $1,335,000 $445,000 $3,850 4.29%
Truckee-Grass Valley, CA (FHA|USDA|VA) 2 $1,300,000 $650,000 $5,690 4.44%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $1,250,000 $625,000 $13,920 3.46%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $1,170,000 $585,000 $5,621 4.29%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $1,085,000 $1,085,000 $7,009 3.83%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $1,080,000 $540,000 $3,045 3.83%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $1,065,000 $1,065,000 $5,542 3.40%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $1,045,000 $1,045,000 $7,306 3.48%
Ellensburg, WA (FHA|USDA|VA) 1 $1,015,000 $1,015,000 $4,141 4.13%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $985,000 $985,000 $10,950 4.35%
FORT COLLINS, CO (FHA|USDA|VA) 2 $980,000 $490,000 $3,536 3.76%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $975,000 $975,000 $8,803 4.19%
GREELEY, CO (FHA|USDA|VA) 1 $965,000 $965,000 $4,280 3.03%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $965,000 $965,000 $8,781 3.93%
BELLINGHAM, WA (FHA|USDA|VA) 2 $940,000 $470,000 $6,148 3.76%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $910,000 $455,000 $4,097 3.64%
WORCESTER, MA-CT (FHA|USDA|VA) 2 $910,000 $455,000 $8,691 3.71%
COLUMBUS, OH (FHA|USDA|VA) 1 $865,000 $865,000 $5,139 4.03%
Oxford, MS (FHA|USDA|VA) 1 $865,000 $865,000 $4,920 4.01%
ASHEVILLE, NC (FHA|USDA|VA) 2 $800,000 $400,000 $3,886 3.44%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $785,000 $785,000 $3,760 4.13%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $740,000 $370,000 $4,138 3.63%
MIDLAND, TX (FHA|USDA|VA) 1 $715,000 $715,000 $6,996 3.43%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $700,000 $350,000 $5,577 4.38%
MADISON, WI (FHA|USDA|VA) 1 $685,000 $685,000 $3,035 3.90%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $665,000 $665,000 $3,450 3.85%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $645,000 $645,000 $4,839 3.95%
JACKSON, MS (FHA|USDA|VA) 1 $645,000 $645,000 $4,859 3.73%
RICHMOND, VA (FHA|USDA|VA) 1 $635,000 $635,000 $3,195 3.95%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $635,000 $635,000 $3,275 4.35%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $595,000 $595,000 $2,322 3.70%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $585,000 $585,000 $4,282 3.88%
TALLAHASSEE, FL (FHA|USDA|VA) 2 $580,000 $290,000 $3,723 3.20%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $575,000 $575,000 $5,691 3.98%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $545,000 $545,000 $11,066 3.40%
MODESTO, CA (FHA|USDA|VA) 1 $545,000 $545,000 $5,460 4.38%
SALEM, OR (FHA|USDA|VA) 1 $535,000 $535,000 $4,634 4.32%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $525,000 $525,000 $3,344 4.20%
ANN ARBOR, MI (FHA|USDA|VA) 1 $515,000 $515,000 $3,976 4.10%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $510,000 $255,000 $2,517 3.93%
Jackson, WY-ID (FHA|USDA|VA) 1 $485,000 $485,000 $3,552 3.18%
Helena, MT (FHA|USDA|VA) 1 $445,000 $445,000 $3,493 3.95%
Kapaa, HI (FHA|USDA|VA) 1 $425,000 $425,000 $2,587 3.00%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $415,000 $415,000 $4,148 3.45%
KNOXVILLE, TN (FHA|USDA|VA) 2 $410,000 $205,000 $4,152 3.49%
MISSOULA, MT (FHA|USDA|VA) 1 $385,000 $385,000 $2,634 3.98%
Oak Harbor, WA (FHA|USDA|VA) 1 $385,000 $385,000 $3,583 3.50%
Centralia, WA (FHA|USDA|VA) 1 $385,000 $385,000 $3,497 3.25%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $375,000 $375,000 $4,264 3.19%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $355,000 $355,000 $4,864 3.15%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $325,000 $325,000 $2,891 3.06%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $325,000 $325,000 $9,741 3.30%
Warsaw, IN (FHA|USDA|VA) 1 $325,000 $325,000 $2,741 3.75%
Kalispell, MT (FHA|USDA|VA) 1 $315,000 $315,000 $3,744 4.25%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $295,000 $295,000 $2,784 3.69%
Gardnerville Ranchos, NV (FHA|USDA|VA) 1 $285,000 $285,000 $3,548 3.25%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $285,000 $285,000 $3,467 3.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $265,000 $265,000 $4,910 2.94%
MEDFORD, OR (FHA|USDA|VA) 1 $265,000 $265,000 $3,455 3.25%
Evanston, WY (FHA|USDA|VA) 1 $255,000 $255,000 $2,196 2.80%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $255,000 $255,000 $3,218 3.38%
CHICO, CA (FHA|USDA|VA) 1 $225,000 $225,000 $3,407 3.38%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $225,000 $225,000 $3,694 4.83%
Whitewater, WI (FHA|USDA|VA) 1 $225,000 $225,000 $2,378 4.50%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $205,000 $205,000 $3,779 3.00%
DOVER, DE (FHA|USDA|VA) 1 $205,000 $205,000 $3,281 2.94%
SAVANNAH, GA (FHA|USDA|VA) 1 $185,000 $185,000 $4,664 3.18%
OCALA, FL (FHA|USDA|VA) 1 $135,000 $135,000 $3,955 3.88%
Muscatine, IA (FHA|USDA|VA) 1 $75,000 $75,000 $3,610 2.93%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $55,000 $55,000 $2,584 3.49%
Cit Bank's top markets include Los Angeles, Seattle, San Francisco, San Diego, and Tampa among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,196 $2,360,120,000 $1,074,736 $5,175 3.91%
    FHA 8 $3,090,000 $386,250 $11,412 4.00%

    For 2019, Cit Bank's most frequently originated type of loan was Conventional, with 2,196 originations. Their 2nd most popular type was FHA, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 892 $1,005,560,000 $1,127,309 $6,375 3.83%
    Refi 816 $809,060,000 $991,495 $4,207 3.89%
    Cash Out Refi 495 $547,735,000 $1,106,535 $4,719 4.09%
    Home Improvement 1 $855,000 $855,000 $3,169 4.10%

    For 2019, Cit Bank's most frequently cited loan purpose was Home Purchase, with 892 originations. The 2nd most popular reason was Refi, with 816 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,030 $1,753,560,000 $863,823 $5,288 3.95%
    15 Year 140 $79,410,000 $567,214 $4,150 3.32%
    20 Year 14 $3,430,000 $245,000 $3,406 3.92%
    3 Year 10 $306,640,000 $30,664,000 $0 4.22%
    Other 8 $150,160,000 $18,770,000 $2,573 3.92%
    5 Year 2 $70,010,000 $35,005,000 $0 3.66%

    For 2019, Cit Bank's most frequently cited loan duration was 30 Year, with 2,030 originations. The 2nd most popular length was 15 Year, with 140 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,780 $1,397,530,000 $785,129
    $5k+ 135 $124,045,000 $918,852
    $2k-3k 117 $87,085,000 $744,316
    $4k-5k 49 $41,575,000 $848,469
    $3k-4k 48 $38,920,000 $810,833
    $<1k 15 $9,985,000 $665,667

    Cit Bank's average total fees were $5,288, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,780 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,298 $1,336,810,000 $1,029,900
    4-5% 837 $986,275,000 $1,178,345
    2.5-3% 54 $32,600,000 $603,704
    5-6% 15 $7,525,000 $501,667

    During 2019, Cit Bank's average interest rate for loans was 3.95%, while their most frequently originated rate bucket for loans was 3-4%, with 1,298 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 1,100 $857,200,000 $779,273 $5,173 3.94%
    $1MM+ 493 $1,250,135,000 $2,535,771 $6,746 3.88%
    $400k-600k 367 $189,785,000 $517,125 $4,367 3.98%
    $200k-400k 204 $60,610,000 $297,108 $3,866 3.69%
    $100k-200k 32 $4,900,000 $153,125 $3,502 3.93%
    $100,000 or less 8 $580,000 $72,500 $3,028 4.12%

    2019 saw Cit Bank place emphasis on $600k-1MM loans with 1,100 originations, totaling $857,200,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 857 $631,085,000 $736,389 $5,138 3.96%
    $250k+ 843 $862,215,000 $1,022,794 $5,784 3.88%
    $100k-150k 294 $156,170,000 $531,190 $4,344 3.92%
    $75k-100k 76 $28,360,000 $373,158 $4,161 3.76%
    $50k-75k 51 $14,825,000 $290,686 $3,651 3.75%
    $50k or less 18 $3,150,000 $175,000 $3,577 3.90%

    Cit Bank lent most frequently to those with incomes in the $150k-250k range, with 857 originations. The second most popular income band? $250k+, with 843 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 479 $378,065,000 $789,280 $4,805 3.85%
    30-36% 447 $354,805,000 $793,747 $5,140 3.93%
    <20% 147 $111,385,000 $757,721 $4,954 3.78%
    44% 117 $95,395,000 $815,342 $5,624 4.11%
    42% 106 $92,100,000 $868,868 $5,731 3.91%
    43% 95 $75,825,000 $798,158 $5,702 3.92%
    41% 91 $81,055,000 $890,714 $5,468 3.99%
    38% 88 $75,350,000 $856,250 $5,200 3.98%
    40% 81 $61,125,000 $754,630 $5,225 3.95%
    39% 80 $64,060,000 $800,750 $5,458 3.93%
    37% 77 $62,705,000 $814,351 $5,205 3.91%
    36% 73 $57,695,000 $790,342 $5,354 3.89%
    45% 55 $39,425,000 $716,818 $5,051 4.03%
    50-60% 47 $39,285,000 $835,851 $6,812 3.85%
    46% 41 $27,545,000 $671,829 $4,810 3.99%
    47% 37 $27,575,000 $745,270 $5,491 3.86%
    49% 36 $21,600,000 $600,000 $4,386 3.85%
    48% 32 $20,730,000 $647,813 $4,807 3.83%
    >60% 15 $13,415,000 $894,333 $6,283 3.69%

    Cit Bank lent most frequently to those with DTI ratios of 20-30%, with 479 originations. The next most common DTI ratio? 30-36%, with 447 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,462 $1,143,850,000 $782,387 $5,248 3.93%
    Not applicable 52 $645,810,000 $12,419,423 $5,044 3.92%
    Not provided 344 $304,720,000 $885,814 $5,166 3.88%
    Asian 283 $218,945,000 $773,657 $4,884 3.81%
    Black 33 $25,905,000 $785,000 $5,955 4.12%
    American Indian 13 $10,575,000 $813,462 $5,130 3.86%
    Asian Indian 8 $6,480,000 $810,000 $4,605 3.28%
    Native Hawaiian or Islander 4 $3,040,000 $760,000 $6,304 4.16%
    Korean 1 $1,495,000 $1,495,000 $3,840 3.05%
    Other Asian 2 $920,000 $460,000 $4,194 3.56%
    Filipino 1 $745,000 $745,000 $2,969 3.90%
    Other Pacific Islander 1 $725,000 $725,000 $14,030 4.28%

    Approval Rates

    Total approvals of all applications
    88.36%

    Cit Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    57.58%

    Cit Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,204 $2,363,210,000 $1,072,237

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 60 $664,070,000 $11,067,833
    Single Family (1-4 Units):Site-Built 2,144 $1,699,140,000 $792,509

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 70 $79,430,000 $1,134,714 $4,327 3.82%
    40-60% 263 $375,835,000 $1,429,030 $4,610 3.82%
    60-80% 1,376 $1,543,870,000 $1,121,999 $5,135 3.94%
    80-100% 487 $361,455,000 $742,207 $5,808 3.88%
    Under 20% 8 $2,620,000 $327,500 $3,541 4.12%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    CATHAY BANK Conventional home mortgage Trouble during payment process 1 50.0%
    CATHAY BANK Home equity loan or line of credit (HELOC) Closing on a mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    CIT Bank, National Association 15135 Sunset Blvd Pacific Palisades, CA 90272 Full Service B&M $183,433
    CIT Bank, National Association 155 N. Lake Avenue Pasadena, CA 91101 Full Service Cyber Office $67,323
    CIT Bank, National Association 1570 Rosecrans Ave. Suite F Manhattan Beach, CA 90266 Full Service B&M $140,102
    CIT Bank, National Association 1630 Montana Ave Santa Monica, CA 90403 Full Service B&M $197,051
    CIT Bank, National Association 17050 Ventura Blvd Encino, CA 91316 Full Service B&M $280,951
    CIT Bank, National Association 1001 N. San Fernando Blvd Ste 150 Burbank, CA 91504 Full Service B&M $169,173
    CIT Bank, National Association 10784 Jefferson Blvd Culver City, CA 90230 Full Service B&M $190,505
    CIT Bank, National Association 1111 N. Brand Blvd Ste A Glendale, CA 91202 Full Service B&M $165,208
    CIT Bank, National Association 11310 National Boulevard Los Angeles, CA 90064 Full Service B&M $299,127
    CIT Bank, National Association 11611 San Vicente Boulevard Los Angeles, CA 90049 Full Service B&M $31,891
    CIT Bank, National Association 11660 South St. Suite 101 Artesia, CA 90701 Full Service B&M $147,364
    CIT Bank, National Association 12401 Wilshire Blvd. Los Angeles, CA 90025 Full Service B&M $140,782
    CIT Bank, National Association 13405 Washington Boulevard Marina Del Rey, CA 90292 Full Service B&M $102,185
    CIT Bank, National Association 300 W Grand Ave Suite 100a Escondido, CA 92025 Full Service B&M $221,018
    CIT Bank, National Association 1475 Huntington Drive Duarte, CA 91010 Full Service B&M $107,047
    CIT Bank, National Association 17245 17th Street, Suite B Tustin, CA 92780 Full Service B&M $150,047
    CIT Bank, National Association 1727 East Daily Drive Suite A & B Camarillo, CA 93010 Full Service B&M $141,841
    CIT Bank, National Association 17383 Sunset Blvd Ste B140 Pacific Palisades, CA 90272 Full Service B&M $53,465
    CIT Bank, National Association 1750 Ocean Park Blvd Santa Monica, CA 90405 Full Service B&M $187,342
    CIT Bank, National Association 18585 Ventura Boulevard Tarzana, CA 91356 Full Service B&M $200,876
    CIT Bank, National Association 1870 S. Elena Ave. Redondo Beach, CA 90277 Full Service B&M $161,615
    CIT Bank, National Association 199 E. Thousand Oaks Blvd. Thousand Oaks, CA 91360 Full Service B&M $155,340
    CIT Bank, National Association 20505 Devonshire Street Chatsworth, CA 91311 Full Service B&M $147,411
    CIT Bank, National Association 2111 Bonita Avenue La Verne, CA 91750 Full Service B&M $314,579
    CIT Bank, National Association 220 N. Hacienda Blvd. City Of Industry, CA 91744 Full Service B&M $90,215
    CIT Bank, National Association 2233 Artesia Boulevard Redondo Beach, CA 90278 Full Service B&M $98,347
    CIT Bank, National Association 2233 S. Hacienda Blvd. Hacienda Heights, CA 91745 Full Service B&M $284,787
    CIT Bank, National Association 225 North Barranca Street West Covina, CA 91791 Full Service B&M $191,127
    CIT Bank, National Association 2300 Pacific Coast Highway Lomita, CA 90717 Full Service B&M $265,386
    CIT Bank, National Association 24191 Paseo Del Valencia Suite A Laguna Woods, CA 92637 Full Service B&M $353,632
    CIT Bank, National Association 2450 Broadway Suite 450 Santa Monica, CA 90404 Full Service Cyber Office $19,259,894
    CIT Bank, National Association 2549 Huntington Dr, Unit 103 San Marino, CA 91108 Full Service B&M $260,469
    CIT Bank, National Association 27620 Marguerite Pkwy Suite G Mission Viejo, CA 92692 Full Service B&M $175,380
    CIT Bank, National Association 2827 Main Street Santa Monica, CA 90405 Full Service B&M $112,827
    CIT Bank, National Association 2920 North Beverly Glen Circle Los Angeles, CA 90077 Full Service B&M $117,055
    CIT Bank, National Association 30019 Hawthorne Blvd. Rancho Palos Verdes, CA 90275 Full Service Retail $95,059
    CIT Bank, National Association 3410 Grand Ave., Suite A Chino Hills, CA 91709 Full Service B&M $208,332
    CIT Bank, National Association 3422 W Carson Street Torrance, CA 90503 Full Service B&M $254,985
    CIT Bank, National Association 3500 East 7th Street Long Beach, CA 90804 Full Service B&M $164,033
    CIT Bank, National Association 351 South Vermont Ave Los Angeles, CA 90020 Full Service B&M $67,186
    CIT Bank, National Association 3700 E. Coast Highway Corona Del Mar, CA 92625 Full Service B&M $140,723
    CIT Bank, National Association 3947 Irvine Boulevard Irvine, CA 92602 Full Service B&M $68,839
    CIT Bank, National Association 400 North La Brea Avenue Los Angeles, CA 90036 Full Service B&M $275,173
    CIT Bank, National Association 401 Wilshire Boulevard Santa Monica, CA 90401 Full Service B&M $358,048
    CIT Bank, National Association 44495 Town Center Way Ste A Palm Desert, CA 92260 Full Service B&M $270,059
    CIT Bank, National Association 5573 Sepulveda Boulevard Culver City, CA 90230 Full Service B&M $143,007
    CIT Bank, National Association 5701 North Kanan Road Agoura Hills, CA 91301 Full Service B&M $154,284
    CIT Bank, National Association 5701 South Eastern Ave. Ste 108 Commerce, CA 90040 Full Service B&M $18,189
    CIT Bank, National Association 5791 Alton Parkway Irvine, CA 92618 Full Service B&M $118,698
    CIT Bank, National Association 600 West Route 66 Glendora, CA 91740 Full Service B&M $196,966
    CIT Bank, National Association 6009 Paseo Delicias Suite A Rancho Santa Fe, CA 92067 Full Service B&M $106,680
    CIT Bank, National Association 6128 Telegraph Rd Ste A Ventura, CA 93003 Full Service B&M $148,639
    CIT Bank, National Association 704 S State College Blvd Anaheim, CA 92806 Full Service B&M $78,636
    CIT Bank, National Association 7061 Yorktown Avenue Suite 103 Huntington Beach, CA 92648 Full Service B&M $184,737
    CIT Bank, National Association 7320 Firestone Blvd Suite 101 Downey, CA 90241 Full Service B&M $110,432
    CIT Bank, National Association 78010 Main St Ste 100 La Quinta, CA 92253 Full Service B&M $91,677
    CIT Bank, National Association 7872 Valley View Street Buena Park, CA 90620 Full Service B&M $101,022
    CIT Bank, National Association 8653 Beverly Boulevard West Hollywood, CA 90048 Full Service B&M $224,875
    CIT Bank, National Association 8726 Tampa Avenue Northridge, CA 91324 Full Service B&M $202,937
    CIT Bank, National Association 8750 South Sepulveda Boulevard Unit P Los Angeles, CA 90045 Full Service B&M $196,081
    CIT Bank, National Association 888 Prospect Street Ste 140 La Jolla, CA 92037 Full Service B&M $282,200
    CIT Bank, National Association 95 South Lake Ave Pasadena, CA 91103 Full Service B&M $5,763,935
    CIT Bank, National Association 9550 S. Santa Monica Blvd Beverly Hills, CA 90210 Full Service B&M $203,345
    CIT Bank, National Association 960 S. Westlake Blvd., Suite 1 & 2 Westlake Village, CA 91361 Full Service B&M $84,722
    CIT Bank, National Association 9618 W Pico Blvd Ste 504 Los Angeles, CA 90035 Full Service B&M $172,251
    CIT Bank, National Association One East Foothill Blvd. Arcadia, CA 91006 Full Service B&M $354,129

    For 2019, Cit Bank had 66 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $1,918,879
    Net interest income $1,178,912
    Total noninterest income $751,295
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $7,320
    Trading account gains and fees $11,068
    Additional Noninterest Income $732,907
    Pre-tax net operating income $560,975
    Securities gains (or losses, -) $7,187
    Income before extraordinary items $436,392
    Discontinued Operations (Extraordinary gains, net) $-2,015
    Net income of bank and minority interests $434,377
    Minority interest net income $0
    Net income $434,377
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $430,714

    Cit Bank's gross interest income from loans was $1,918,879,000.
    Cit Bank's net interest income from loans was $1,178,912,000.
    Cit Bank's fee based income from loans was $7,320,000.
    Cit Bank's net income from loans was $434,377,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $739,967
    Provision for credit losses $116,178
    Total noninterest expense $1,253,054
    Salaries and employee benefits $492,644
    Premises and equipment expense $60,510
    Additional noninterest expense $699,900
    Applicable income taxes $131,770
    Net charge-offs $119,722
    Cash dividends $356,000

    Cit Bank's interest expense for loans was $739,967,000.
    Cit Bank's payroll and benefits expense were $492,644,000.
    Cit Bank's property, plant and equipment expenses $60,510,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 8.0%
    All other family 1.0%
    Commercial & industrial loans 2.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $35,823,085
    Deposits held in domestic offices $35,823,085
    Deposits by Individuals, partnerships, and corporations $35,754,410
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $11,835
    Deposits by Commercial banks and other depository institutions in U.S. $56,837
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $3
    Transaction accounts $792,630
    Demand deposits $792,630
    Nontransaction accounts $35,030,455
    Money market deposit accounts (MMDAs) $9,492,908
    Other savings deposits (excluding MMDAs) $14,379,765
    Total time deposits $11,157,781
    Total time and savings deposits $35,030,455
    Noninterest-bearing deposits $1,936,170
    Interest-bearing deposits $33,886,914
    Retail deposits $30,868,533
    IRAs and Keogh plan accounts $990,525
    Brokered deposits $2,670,220
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $45,268,906
    Cash & Balances due from depository institutions $2,428,812
    Interest-bearing balances $1,483,666
    Total securities $6,049,646
    Federal funds sold & reverse repurchase $950,000
    Net loans and leases $28,349,435
    Loan and leases loss allowance $455,239
    Trading account assets $179,378
    Bank premises and fixed assets $151,953
    Other real estate owned $17,705
    Goodwill and other intangibles $395,315
    All other assets $6,746,662

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $45,268,907
    Total Liabilities $40,002,622
    Total deposits $35,823,085
    Interest-bearing deposits $33,886,914
    Deposits held in domestic offices $35,823,085
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $20,656
    Other borrowed funds $2,551,103
    Subordinated debt $300,000
    All other liabilities $1,307,778

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $28,349,435
    Loan and leases loss allowance $455,239
    Total loans and leases (domestic) $28,804,674
    All real estate loans $13,098,366
    Real estate loans in domestic offices $13,098,366
    Construction and development loans $864,404
    Residential 1-4 family construction $247,646
    Other construction, all land development and other land $616,758
    Loans secured by nonfarm nonresidential properties $4,204,355
    Nonfarm nonresidential secured by owner-occupied properties $917,232
    Commercial real estate & other non-farm, non-residential $3,287,123
    Multifamily residential real estate $2,039,173
    1-4 family residential loans $5,990,434
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $51,930
    Commercial and industrial loans $10,679,098
    To non-U.S. addressees $207,766
    Loans to individuals $1,081
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $1,081
    All other loans & leases $4,974,199
    Loans to foreign governments and official institutions $0
    Other loans $2,705,513
    Loans to depository institutions and acceptances of other banks $3,201
    Loans not secured by real estate $21,517
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $38,769
    Non 1-4 family restructured loans & leases $24,865
    Total loans and leases (foreign) $0

    CIT Bank had $28,349,435,000 of loans outstanding in 2019. $13,098,366,000 of loans were in real estate loans. $864,404,000 of loans were in development loans. $2,039,173,000 of loans were in multifamily mortgage loans. $5,990,434,000 of loans were in 1-4 family mortgage loans. $51,930,000 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 337 $170,526 $506,012
    Nonfarm, nonresidential loans - $100-250k 18 $3,124 $173,556
    Nonfarm, nonresidential loans - $250k-1MM 319 $167,402 $524,771
    Commercial & Industrial, US addressed loans - <$1MM 66,448 $2,487,805 $37,440
    Commercial & Industrial, US addressed loans - <$100k 56,820 $1,272,375 $22,393
    Commercial & Industrial, US addressed loans - $100-250k 8,025 $775,748 $96,666
    Commercial & Industrial, US addressed loans - $250k-1MM 1,603 $439,682 $274,287
    Agriculture operations loans - <$1MM 1,009 $51,930 $51,467
    Agriculture operations loans - <$100k 1,009 $51,930 $51,467