Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CIT Home Equity Loan Trust 1998-1
By: THE CIT GROUP/CONSUMER FINANCE, INC.
as Servicer
By: /s/ Usama Ashraf
-------------------------------------
Name: Usama Ashraf
Title: Vice President
Dated: October 27, 2004
EXHIBIT 99.1
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
MORTGAGE POOL CHARACTERISTICS GROUP I MORTGAGE LOANS
Number of loans: 870
Aggregate outstanding principal balance $41,850,697
Average outstanding principal balance: $48,104
Range of outstanding principal balance: $0 to $344,498
Range of mortgage rates: 0.00% to 15.50%
Weighted average mortgage rate: 9.433%
Range of original combined loan-to-value ratios: 14.27% to 100.00%
Weighted average combined original loan-to- value ratio: 78.09%
Range of remaining terms to stated maturity: 7 to 317 months
Weighted average remaining term to stated maturity: 218 months
Loan secured by owner occupied properties as a percentage
of current balance: 93.08%
Range of original term: 84 to 360 months
Weighted average original term: 287 months
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP I
DISTRIBUTION BY NUMBER OF MONTHS OF SEASONING (1)
PERCENTAGE OF
MORTGAGE
POOL BY
AGGREGATE WEIGHTED PERCENT OF PERCENT OF
AGGREGATE PRINCIPAL AVERAGE AVERAGE FULL OWNER-
NUMBER OF PRINCIPAL BALANCE OF WEIGHTED PRINCIPAL COMBINED DOCUMENTATION OCCUPIED
MONTHS OF MORTGAGE BALANCE MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE MORTGAGE MORTGAGE
SEASONING LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO LOANS LOANS
----------------------------------------------------------------------------------------------------------------------------------
73 - 78 777 38,243,738.88 91.38% 9.34% 49,220 78.02% 91.32% 93.24%
79 - 84 91 3,511,739.13 8.39% 10.42% 38,591 78.74% 98.84% 91.15%
85 - 90 2 95,219.06 0.23% 11.50% 47,610 84.84% 100.00% 100.00%
----------------------------------------------------------------------------------------------------------------------------------
Total: 870 41,850,697.07 100.00% 9.433% 48,104 78.09% 91.97% 93.08%
==================================================================================================================================
(1) Seasoning calculated from each Mortgage Loan's interest start date, based upon a calendar month deemed to have 30 days,
and a calendar rear deemed to have a 360 days.
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP I
DISTRIBUTION BY ORIGINAL COMBINED LOAN-TO-VALUE RATIO (1)
PERCENTAGE OF
MORTGAGE
POOL BY
AGGREGATE WEIGHTED PERCENT OF PERCENT OF
AGGREGATE PRINCIPAL AVERAGE AVERAGE FULL OWNER-
NUMBER OF PRINCIPAL BALANCE OF WEIGHTED PRINCIPAL COMBINED DOCUMENTATION OCCUPIED
COMBINED MORTGAGE BALANCE MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE MORTGAGE MORTGAGE
LOAN-TO-VALUE RATIO LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO LOANS LOANS
----------------------------------------------------------------------------------------------------------------------------------
5.01% - 10.00% 10 101,721.84 0.24% 11.12% 10,172 83.47% 91.91% 91.91%
10.01% - 15.00% 24 369,039.67 0.88% 11.31% 15,377 80.05% 86.22% 92.13%
15.01% - 20.00% 36 714,329.06 1.71% 11.64% 19,842 84.49% 83.70% 97.82%
20.01% - 25.00% 33 761,746.97 1.82% 11.14% 23,083 75.98% 87.89% 100.00%
25.01% - 30.00% 16 310,667.22 0.74% 10.39% 19,417 68.35% 94.53% 92.45%
30.01% - 35.00% 18 501,810.21 1.20% 10.31% 27,878 78.28% 88.12% 100.00%
35.01% - 40.00% 19 439,680.95 1.05% 9.99% 23,141 55.88% 90.29% 100.00%
40.01% - 45.00% 15 650,561.71 1.55% 9.70% 43,371 53.09% 85.86% 68.24%
45.01% - 50.00% 23 577,337.53 1.38% 10.00% 25,102 56.33% 96.94% 92.53%
50.01% - 55.00% 21 737,235.57 1.76% 9.27% 35,106 54.73% 68.04% 94.79%
55.01% - 60.00% 24 756,976.37 1.81% 10.03% 31,541 59.05% 96.49% 91.61%
60.01% - 65.00% 31 1,333,844.70 3.19% 9.25% 43,027 63.58% 100.00% 86.99%
65.01% - 70.00% 50 2,519,670.56 6.02% 9.51% 50,393 69.23% 90.43% 86.67%
70.01% - 75.00% 81 4,171,164.59 9.97% 9.86% 51,496 73.77% 90.96% 92.47%
75.01% - 80.00% 196 10,944,169.85 26.15% 9.06% 55,838 78.83% 89.93% 91.95%
80.01% - 85.00% 174 10,456,296.48 24.98% 9.12% 60,094 82.57% 91.57% 93.31%
85.01% - 90.00% 79 4,636,093.23 11.08% 9.20% 58,685 86.89% 100.00% 98.65%
90.01% - 95.00% 11 1,028,530.34 2.46% 9.89% 93,503 92.51% 100.00% 100.00%
95.01% - 100.00% 9 839,820.22 2.01% 10.18% 93,313 99.67% 100.00% 100.00%
----------------------------------------------------------------------------------------------------------------------------------
Total: 870 41,850,697.07 100.00% 9.432% 48,104 78.09% 91.97% 93.08%
==================================================================================================================================
(1) The Combined Loan-to-Value Ratios for the first lien mortgages do not reflect the principal balance of any second lien
mortgages, including those financed by CIT Consumer Finance or any of its affiliates.
(1) The Combined Loan-to-Vaue Ratios for the first lien mortgages do not reflect
the principal balance of any second lien mortgages, including those financed by
CIT Consumer Finance or any of its affiliates.
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP I
DISTRIBUTION BY PROPERTY TYPE
PERCENTAGE OF
MORTGAGE
POOL BY
AGGREGATE WEIGHTED PERCENT OF PERCENT OF
AGGREGATE PRINCIPAL AVERAGE AVERAGE FULL OWNER-
NUMBER OF PRINCIPAL BALANCE OF WEIGHTED PRINCIPAL COMBINED DOCUMENTATION OCCUPIED
MORTGAGE BALANCE MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE MORTGAGE MORTGAGE
PROPERTY TYPE LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO LOANS LOANS
----------------------------------------------------------------------------------------------------------------------------------
Single Family 820 39,290,881.00 93.88% 9.43% 47,916 78.22% 92.32% 95.16%
2-4 Family 34 1,690,158.62 4.04% 9.82% 49,711 76.19% 88.85% 53.10%
Condo 16 869,657.45 2.08% 8.94% 54,354 75.86% 82.16% 76.84%
-----------------------------------------------------------------------------------------------------------------------------------
Total: 870 41,850,697.07 100.00% 9.433% 48,104 78.09% 91.97% 93.08%
===================================================================================================================================
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP I
DISTRIBUTION BY LOAN PURPOSE
PERCENTAGE OF
MORTGAGE
POOL BY
AGGREGATE WEIGHTED PERCENT OF PERCENT OF
AGGREGATE PRINCIPAL AVERAGE AVERAGE FULL OWNER-
NUMBER OF PRINCIPAL BALANCE OF WEIGHTED PRINCIPAL COMBINED DOCUMENTATION OCCUPIED
MORTGAGE BALANCE MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE MORTGAGE MORTGAGE
LOAN PURPOSE LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO LOANS LOANS
-----------------------------------------------------------------------------------------------------------------------------------
Refinance and/or Cashout 824 39,222,198.72 93.72% 9.42% 47,600 77.96% 92.02% 93.52%
Purchase 46 2,628,498.35 6.28% 9.62% 57,141 80.05% 91.15% 86.61%
----------------------------------------------------------------------------------------------------------------------------------
Total: 870 41,850,697.07 100.00% 9.433% 48,104 78.09% 91.97% 93.08%
==================================================================================================================================
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP I
DISTRIBUTION BY OCCUPANCY STATUS
PERCENTAGE OF
MORTGAGE
POOL BY
AGGREGATE WEIGHTED PERCENT OF PERCENT OF
AGGREGATE PRINCIPAL AVERAGE AVERAGE FULL OWNER-
NUMBER OF PRINCIPAL BALANCE OF WEIGHTED PRINCIPAL COMBINED DOCUMENTATION OCCUPIED
MORTGAGE BALANCE MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE MORTGAGE MORTGAGE
OCCUPANCY STATUS LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO LOANS LOANS
-----------------------------------------------------------------------------------------------------------------------------------
Owner Occupied 803 38,956,507.73 93.08% 9.45% 48,514 78.49% 92.12% 100.00%
Non-Owner Occupied 67 2,894,189.34 6.92% 9.20% 43,197 72.79% 89.98% 0.00%
-----------------------------------------------------------------------------------------------------------------------------------
Total: 870 41,850,697.07 100.00% 9.433% 48,104 78.09% 91.97% 93.08%
===================================================================================================================================
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP I
DISTRIBUTION BY PRODUCT TYPE
PERCENTAGE OF
MORTGAGE
POOL BY
AGGREGATE WEIGHTED PERCENT OF PERCENT OF
AGGREGATE PRINCIPAL AVERAGE AVERAGE FULL OWNER-
NUMBER OF PRINCIPAL BALANCE OF WEIGHTED PRINCIPAL COMBINED DOCUMENTATION OCCUPIED
MORTGAGE BALANCE MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE MORTGAGE MORTGAGE
PRODUCT TYPE LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO LOANS LOANS
-----------------------------------------------------------------------------------------------------------------------------------
Fixed - 30 Yr 307 19,902,494.94 47.56% 9.35% 64,829 78.32% 92.03% 92.01%
Fixed - 15 Yr 394 11,405,886.78 27.25% 9.53% 28,949 76.76% 91.37% 96.16%
Fixed - Call 113 7,923,231.16 18.93% 9.14% 70,117 79.57% 94.10% 93.09%
Balloon - 15/30 56 2,619,084.19 6.26% 10.52% 46,769 77.68% 87.69% 87.88%
----------------------------------------------------------------------------------------------------------------------------------
Total: 870 41,850,697.07 100.00% 9.433% 48,104 78.09% 91.97% 93.08%
==================================================================================================================================
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
MORTGAGE POOL CHARACTERISTICS GROUP II MORTGAGE LOANS
Number of loans: 74
Aggregate outstanding principal balance $5,218,600
Average outstanding principal balance: $70,522
Range of outstanding principal balance: $9,549 to $178,061
Range of mortgage rates: 0.00% to 13.70%
Weighted average mortgage rate: 7.248%
Range of original loan-to-value ratios: 53.61% to 95.00%
Weighted average original loan-to-value ratio: 80.41%
Range of remaining terms to stated maturity: 106 to 324 months
Weighted average remaining term to stated maturity: 291 months
Loan secured by owner occupied properties as a
percentage of current balance: 97.68%
Range of original term: 180 to 360 months
Weighted average original term: 357 months
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES
PERCENTAGE OF
MORTGAGE
POOL BY
AGGREGATE WEIGHTED PERCENT OF PERCENT OF
AGGREGATE PRINCIPAL AVERAGE AVERAGE FULL OWNER-
NUMBER OF PRINCIPAL BALANCE OF WEIGHTED PRINCIPAL COMBINED DOCUMENTATION OCCUPIED
MORTGAGE BALANCE MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE MORTGAGE PMORTGAGE
STATE LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO LOANS LOANS
----------------------------------------------------------------------------------------------------------------------------------
Ohio 29 2,119,492.93 40.61% 7.30% 73,086 81.30% 81.56% 98.13%
Illinois 4 312,559.27 5.99% 7.33% 78,140 76.10% 70.86% 100.00%
Florida 5 269,864.75 5.17% 7.42% 53,973 74.97% 59.83% 88.62%
Iowa 3 217,571.28 4.17% 7.97% 72,524 83.65% 100.00% 100.00%
Wisconsin 4 216,234.48 4.14% 7.91% 54,059 78.32% 79.54% 100.00%
Indiana 5 212,872.25 4.08% 9.90% 42,574 78.68% 100.00% 100.00%
Arizona 4 211,358.41 4.05% 6.90% 52,840 86.63% 100.00% 75.92%
Washington DC 2 207,582.28 3.98% 6.63% 103,791 78.49% 30.26% 100.00%
Missouri 3 195,341.15 3.74% 7.52% 65,114 80.56% 58.43% 100.00%
Pennsylvania 2 189,817.15 3.64% 6.99% 94,909 80.52% 28.36% 100.00%
Maryland 2 189,047.21 3.62% 3.27% 94,524 77.68% 100.00% 100.00%
Oregon 2 165,163.02 3.16% 7.06% 82,582 72.90% 90.77% 100.00%
California 1 136,810.93 2.62% 6.54% 136,811 80.82% 0.00% 100.00%
West Virginia 2 118,849.53 2.28% 8.10% 59,425 76.63% 100.00% 100.00%
Tennessee 1 103,902.72 1.99% 7.78% 103,903 91.68% 100.00% 100.00%
Michigan 2 103,779.43 1.99% 7.06% 51,890 88.12% 100.00% 100.00%
Utah 1 102,565.65 1.97% 6.79% 102,566 85.10% 100.00% 100.00%
Idaho 1 74,301.43 1.42% 6.53% 74,301 78.82% 100.00% 100.00%
North Carolina 1 71,486.62 1.37% 7.12% 71,487 79.11% 100.00% 100.00%
----------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.248% 70,522 80.41% 77.99% 97.68%
==================================================================================================================================
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTION BY CURRENT PRINCIPAL BALANCE
PERCENTAGE OF
MORTGAGE
POOL BY
AGGREGATE WEIGHTED PERCENT OF PERCENT OF
AGGREGATE PRINCIPAL AVERAGE AVERAGE FULL OWNER-
NUMBER OF PRINCIPAL BALANCE OF WEIGHTED PRINCIPAL COMBINED DOCUMENTATION OCCUPIED
MORTGAGE BALANCE MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE MORTGAGE PMORTGAGE
CURRENT PRINCIPAL BALANCE LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO LOANS LOANS
-----------------------------------------------------------------------------------------------------------------------------------
.01 - 10,000.00 1 9,549.29 0.18% 7.16% 9,549 92.68% 100.00% 100.00%
10,000.01 - 20,000.00 1 15,245.57 0.29% 7.05% 15,246 79.23% 0.00% 100.00%
20,000.01 - 30,000.00 5 127,428.34 2.44% 9.22% 25,486 69.57% 100.00% 100.00%
30,000.01 - 40,000.00 6 207,638.01 3.98% 7.37% 34,606 77.06% 100.00% 66.12%
40,000.01 - 50,000.00 9 408,671.84 7.83% 7.62% 45,408 76.14% 89.17% 100.00%
50,000.01 - 60,000.00 14 766,523.73 14.69% 6.86% 54,752 79.91% 100.00% 93.36%
60,000.01 - 70,000.00 8 511,463.48 9.80% 8.29% 63,933 80.56% 87.14% 100.00%
70,000.01 - 80,000.00 6 436,440.09 8.36% 7.71% 72,740 78.90% 66.30% 100.00%
80,000.01 - 90,000.00 5 414,289.24 7.94% 7.80% 82,858 83.67% 80.40% 100.00%
90,000.01 - 100,000.00 5 465,906.80 8.93% 5.70% 93,181 79.11% 80.45% 100.00%
100,000.01 - 120,000.00 5 531,370.07 10.18% 6.81% 106,274 86.11% 79.60% 100.00%
120,000.01 - 140,000.00 4 519,734.19 9.96% 7.05% 129,934 81.88% 47.51% 100.00%
140,000.01 - 160,000.00 2 294,679.27 5.65% 6.76% 147,340 76.06% 50.87% 100.00%
160,000.01 - 180,000.00 3 509,660.57 9.77% 7.46% 169,887 83.24% 65.06% 100.00%
-----------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.248% 70,522 80.41% 77.99% 97.68%
===================================================================================================================================
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTION BY CURRENT MORTGAGE RATES
PERCENTAGE OF
MORTGAGE
POOL BY
AGGREGATE WEIGHTED PERCENT OF PERCENT OF
AGGREGATE PRINCIPAL AVERAGE AVERAGE FULL OWNER-
NUMBER OF PRINCIPAL BALANCE OF WEIGHTED PRINCIPAL COMBINED DOCUMENTATION OCCUPIED
MORTGAGE BALANCE MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE MORTGAGE PMORTGAGE
MORTGAGE RATES LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO LOANS LOANS
----------------------------------------------------------------------------------------------------------------------------------
- 0.000%(1) 1 39,642.88 0.76% 0.00% 39,643 80.00% 100.00% 0.00%
5.501% - 6.000% 1 108,393.76 2.08% 5.91% 108,394 78.57% 0.00% 100.00%
6.001% - 6.500% 3 287,076.84 5.50% 4.27% 95,692 82.10% 49.57% 100.00%
6.501% - 7.000% 12 1,064,500.45 20.40% 6.70% 88,708 81.00% 79.52% 100.00%
7.001% - 7.500% 18 1,417,471.97 27.16% 7.13% 78,748 79.42% 60.54% 97.83%
7.501% - 8.000% 13 861,179.27 16.50% 7.73% 66,245 83.66% 91.42% 94.09%
8.001% - 8.500% 11 707,009.13 13.55% 7.55% 64,274 79.17% 100.00% 100.00%
8.501% - 9.000% 9 387,237.82 7.42% 7.47% 43,026 73.17% 88.57% 100.00%
10.001% -10.500% 2 139,721.58 2.68% 10.43% 69,861 85.15% 100.00% 100.00%
10.501% - 11.000% 2 140,916.72 2.70% 10.88% 70,458 87.85% 100.00% 100.00%
11.501% - 12.000% 1 37,598.75 0.72% 11.99% 37,599 80.00% 100.00% 100.00%
13.501% - 14.000% 1 27,851.32 0.53% 13.70% 27,851 70.00% 100.00% 100.00%
----------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.246% 70,522 80.41% 77.99% 97.68%
==================================================================================================================================
(1) Loan is currently in REO status and pending liquidation.
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTION BY GROSS MARGIN
PERCENTAGE OF WEIGHTED PERCENT OF
AGGREGATE MORTGAGE POOL BY AVERAGE AVERAGE PERCENTAGE OF OWNER-
NUMBER OF PRINCIPAL GGREGATE PRINCIPAL WEIGHTED PRINCIPAL COMBINED FULL OCCUPIED
MORTGAGE BALANCE AALANCE OF MORTGAGE AVERAGE BALANCE LOAN TO DOCUMENTATION MORTGAGE
GROSS MARGIN LOANS OUTSTANDING LOANS COUPON OUTSTANDING VALUE RATIO MORTGAGE LOANS LOANS
----------------------------------------------------------------------------------------------------------------------------------
4.501% - 5.000% 4 307,394.25 5.89% 4.69% 76,849 79.00% 64.74% 100.00%
5.001% - 5.500% 8 788,234.03 15.10% 6.57% 98,529 80.89% 64.28% 100.00%
5.501% - 6.000% 24 1,918,951.73 36.77% 7.23% 79,956 80.18% 66.62% 98.40%
6.001% - 6.500% 8 509,603.39 9.77% 7.62% 63,700 83.88% 100.00% 90.01%
6.501% - 7.000% 17 1,095,163.81 20.99% 7.95% 64,421 81.17% 93.26% 100.00%
7.001% - 7.500% 13 599,253.28 11.48% 7.89% 46,096 76.92% 92.62% 93.38%
-----------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.248% 70,522 80.41% 77.99% 97.68%
===================================================================================================================================
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTION BY MAXIMUM MORTGAGE RATES
PERCENTAGE OF
MORTGAGE
POOL BY
AGGREGATE WEIGHTED PERCENT OF PERCENT OF
AGGREGATE PRINCIPAL AVERAGE AVERAGE FULL OWNER-
NUMBER OF PRINCIPAL BALANCE OF WEIGHTED PRINCIPAL COMBINED DOCUMENTATION OCCUPIED
MORTGAGE BALANCE MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE MORTGAGE PMORTGAGE
MORTGAGE RATES LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO LOANS LOANS
----------------------------------------------------------------------------------------------------------------------------------
12.501% - 13.000% 1 81,201.12 1.56% 6.87% 81,201 82.00% 0.00% 100.00%
13.001% - 13.500% 2 97,157.54 1.86% 7.37% 48,579 78.27% 100.00% 100.00%
13.501% - 14.000% 2 228,424.97 4.38% 6.72% 114,212 85.24% 100.00% 100.00%
14.001% - 14.500% 3 250,032.41 4.79% 4.15% 83,344 79.73% 100.00% 100.00%
14.501% - 15.000% 12 991,903.59 19.01% 7.08% 82,659 81.60% 71.61% 100.00%
15.001% - 15.500% 9 833,788.81 15.98% 7.38% 92,643 82.29% 65.64% 100.00%
15.501% - 16.000% 14 1,209,530.80 23.18% 7.10% 86,395 82.06% 80.98% 100.00%
16.001% - 16.500% 13 731,338.66 14.01% 7.68% 56,257 78.09% 79.32% 88.84%
16.501% - 17.000% 6 276,682.03 5.30% 8.98% 46,114 76.06% 100.00% 100.00%
17.001% - 17.500% 6 288,126.04 5.52% 6.02% 48,021 73.03% 59.01% 86.24%
17.501% - 18.000% 5 202,563.20 3.88% 9.88% 40,513 79.06% 100.00% 100.00%
20.501% - 21.000% 1 27,851.32 0.53% 13.70% 27,851 70.00% 100.00% 100.00%
---------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.248% 70,522 80.41% 77.99% 97.68%
=================================================================================================================================
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTIONS BY MONTHS TO NEXT RATE RESET DATE
PERCENTAGE OF
MORTGAGE
POOL BY
AGGREGATE WEIGHTED PERCENT OF PERCENT OF
AGGREGATE PRINCIPAL AVERAGE AVERAGE FULL OWNER-
NUMBER OF PRINCIPAL BALANCE OF WEIGHTED PRINCIPAL COMBINED DOCUMENTATION OCCUPIED
MONTH OF MORTGAGE BALANCE MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE MORTGAGE PMORTGAGE
NEXT RESET DATE LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO LOANS LOANS
--------------------------------------------------------------------------------------------------------------------------------
August-2004 3 197,602.19 3.79% 10.34% 65,867 81.78% 100.00% 100.00%
September-2004 3 264,446.71 5.07% 8.17% 88,149 83.26% 100.00% 100.00%
October-2004 3 181,177.10 3.47% 9.51% 60,392 81.34% 100.00% 100.00%
November-2004 3 220,803.29 4.23% 6.63% 73,601 76.79% 50.91% 100.00%
December-2004 6 308,397.07 5.91% 8.48% 51,400 77.09% 85.65% 100.00%
January-2005 18 1,153,862.48 22.11% 7.13% 64,103 80.09% 98.68% 97.34%
February-2005 15 1,232,198.22 23.61% 7.15% 82,147 79.19% 56.02% 100.00%
March-2005 12 802,474.41 15.38% 5.99% 66,873 80.65% 73.77% 100.00%
April-2005 10 817,996.14 15.67% 7.30% 81,800 83.27% 72.09% 93.78%
December -9999
(1) 1 39,642.88 0.76% 0.00% 39,643 80.00% 100.00% 0.00%
----------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.248% 70,522 80.41% 77.99% 97.68%
==================================================================================================================================
(1) Loan is currently in REO status and pending liquidation.
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTION BY REMAINING MONTHS TO STATED MATURITY DATE
PERCENTAGE OF
MORTGAGE
POOL BY
AGGREGATE WEIGHTED PERCENT OF PERCENT OF
AGGREGATE PRINCIPAL AVERAGE AVERAGE FULL OWNER-
REMAINING NUMBER OF PRINCIPAL BALANCE OF WEIGHTED PRINCIPAL COMBINED DOCUMENTATION OCCUPIED
MONTHS TO MORTGAGE BALANCE MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE MORTGAGE MORTGAGE
TO STATED MATURITY LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO LOANS LOANS
--------------------------------------------------------------------------------------------------------------------------------
97 - 108 1 9,549.29 0.18% 7.16% 9,549 92.68% 100.00% 100.00%
109 - 120 2 39,671.87 0.76% 7.36% 19,836 79.69% 61.57% 100.00%
157 - 168 1 38,973.67 0.75% 8.56% 38,974 75.00% 100.00% 100.00%
277 - 288 21 1,545,179.06 29.61% 6.51% 73,580 81.38% 88.85% 97.43%
289 - 300 40 2,892,450.38 55.43% 7.38% 72,311 79.76% 69.04% 98.24%
301 - 312 6 436,044.26 8.36% 8.43% 72,674 80.91% 100.00% 92.96%
313 - 324 3 256,731.96 4.92% 7.93% 85,577 81.60% 74.38% 100.00%
------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.248% 70,522 80.41% 77.99% 97.68%
==============================================================================================================================
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTION BY NUMBER OF MONTHS OF SEASONING(1)
PERCENTAGE OF
MORTGAGE
POOL BY
AGGREGATE WEIGHTED PERCENT OF PERCENT OF
AGGREGATE PRINCIPAL AVERAGE AVERAGE FULL OWNER-
NUMBER OF PRINCIPAL BALANCE OF WEIGHTED PRINCIPAL COMBINED DOCUMENTATION OCCUPIED
MORTGAGE BALANCE MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE MORTGAGE MORTGAGE
MONTHS OF SEASONING LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO LOANS LOANS
--------------------------------------------------------------------------------------------------------------------------------
73 - 78 61 4,622,561.41 88.58% 7.25% 75,780 80.72% 76.44% 98.04%
79 - 84 13 596,039.08 11.42% 7.25% 45,849 78.06% 90.02% 94.85%
---------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.248% 70,522 80.41% 77.99% 97.68%
=================================================================================================================================
(1) Seasoning calculated from each Mortgage Loan's interest start date, based
upon a calendar month deemed to have 30 days, and a calendar rear deemed to
have a 360 days.
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTION BY ORIGINAL COMBINED LOAN-TO-VALUE RATIO(2)
PERCENTAGE OF WEIGHTED PERCENT OF
AGGREGATE MORTGAGE POOL BY AVERAGE AVERAGE OWNER-
COMBINED NUMBER OF PRINCIPAL AGGREGATE PRINCIPAL WEIGHTED PRINCIPAL COMBINED PERCENT OF FULL OCCUPIED
LOAN-TO-VALUE MORTGAGE BALANCE BALANCE OF MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE DOCUMENTATION MORTGAGE
RATIO LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO MORTGAGE LOANS LOANS
-----------------------------------------------------------------------------------------------------------------------------------
50.01%: 55.00% 1 44,245.89 0.85% 8.66% 44,246 53.61% 0.00% 100.00%
55.01%: 60.00% 2 47,257.16 0.91% 7.82% 23,629 57.79% 100.00% 100.00%
65.01%: 70.00% 6 346,863.33 6.65% 8.18% 57,811 67.54% 78.71% 100.00%
70.01%: 75.00% 7 503,517.10 9.65% 7.44% 71,931 72.52% 81.91% 100.00%
75.01%: 80.00% 25 1,538,149.12 29.47% 7.02% 61,526 79.14% 66.70% 92.12%
80.01%: 85.00% 16 1,354,880.11 25.96% 7.29% 84,680 82.48% 73.87% 100.00%
85.01%: 90.00% 14 1,214,042.27 23.26% 7.00% 86,717 86.79% 93.97% 100.00%
90.01%: 95.00% 3 169,645.51 3.25% 7.76% 56,549 92.84% 100.00% 100.00%
-----------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.248% 70,522 80.41% 77.99% 97.68%
===================================================================================================================================
(2) The Combined Loan-to-Value Ratios for the first lien mortgages do not
reflect the principal balance of any second lien mortgages, including those
financed by CIT Consumer Finance or any of its affiliates.
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTION BY ORIGINAL COMBINED LOAN-TO-VALUE RATIO(2)
PERCENTAGE OF WEIGHTED PERCENT OF
AGGREGATE MORTGAGE POOL BY AVERAGE AVERAGE OWNER-
COMBINED NUMBER OF PRINCIPAL AGGREGATE PRINCIPAL WEIGHTED PRINCIPAL COMBINED PERCENT OF FULL OCCUPIED
LOAN-TO-VALUE MORTGAGE BALANCE BALANCE OF MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE DOCUMENTATION MORTGAGE
RATIO LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO MORTGAGE LOANS LOANS
-----------------------------------------------------------------------------------------------------------------------------------
10.01% - 15.00% 1 9,549.29 0.18% 7.16% 9,549 92.68% 100.00% 100.00%
15.01% - 20.00% 1 15,245.57 0.29% 7.05% 15,246 79.23% 0.00% 100.00%
50.01% - 55.00% 1 44,245.89 0.85% 8.66% 44,246 53.61% 0.00% 100.00%
55.01% - 60.00% 2 47,257.16 0.91% 7.82% 23,629 57.79% 100.00% 100.00%
65.01% - 70.00% 6 346,863.33 6.65% 8.18% 57,811 67.54% 78.71% 100.00%
70.01% - 75.00% 7 503,517.10 9.65% 7.44% 71,931 72.52% 81.91% 100.00%
75.01% - 80.00% 24 1,522,903.55 29.18% 7.02% 63,454 79.14% 67.37% 92.04%
80.01% - 85.00% 16 1,354,880.11 25.96% 7.29% 84,680 82.48% 73.87% 100.00%
85.01% - 90.00% 14 1,214,042.27 23.26% 7.00% 86,717 86.79% 93.97% 100.00%
90.01% - 95.00% 2 160,096.22 3.07% 7.80% 80,048 92.85% 100.00% 100.00%
----------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.248% 70,522 80.41% 77.99% 97.68%
==================================================================================================================================
(2) The Combined Loan-to-Value Ratios for the first lien mortgages do not
reflect the principal balance of any second lien mortgages, including those
financed by CIT Consumer Finance or any of its affiliates.
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTION BY JUNIOR LIEN RATIO
PERCENTAGE OF WEIGHTED PERCENT OF
AGGREGATE MORTGAGE POOL BY AVERAGE AVERAGE OWNER-
COMBINED NUMBER OF PRINCIPAL AGGREGATE PRINCIPAL WEIGHTED PRINCIPAL COMBINED PERCENT OF FULL OCCUPIED
LOAN-TO-VALUE MORTGAGE BALANCE BALANCE OF MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE DOCUMENTATION MORTGAGE
RATIO LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO MORTGAGE LOANS LOANS
----------------------------------------------------------------------------------------------------------------------------------
15.01% - 20.00% 1 9,549.29 38.51% 7.16% 9,549 92.68% 100.00% 100.00%
20.01% - 25.00% 1 15,245.57 61.49% 7.05% 15,246 79.23% 0.00% 100.00%
----------------------------------------------------------------------------------------------------------------------------------
Total: 2 24,794.86 100.00% 7.092% 12,397 84.41% 38.51% 100.00%
==================================================================================================================================
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTION BY PROPERTY TYPE
PERCENTAGE OF WEIGHTED PERCENT OF
AGGREGATE MORTGAGE POOL BY AVERAGE AVERAGE OWNER-
NUMBER OF PRINCIPAL AGGREGATE PRINCIPAL WEIGHTED PRINCIPAL COMBINED PERCENT OF FULL OCCUPIED
MORTGAGE BALANCE BALANCE OF MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE DOCUMENTATION MORTGAGE
PROPERTY TYPE LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO MORTGAGE LOANS LOANS
--------------------------------------------------------------------------------------------------------------------------------
Single Family 71 5,093,230.80 97.60% 7.24% 71,736 80.47% 77.45% 99.22%
Condo 2 94,672.29 1.81% 7.94% 47,336 78.38% 100.00% 46.24%
2-4 Family 1 30,697.40 0.59% 7.05% 30,697 77.50% 100.00% 0.00%
----------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.248% 70,522 80.41% 77.99% 97.68%
==================================================================================================================================
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTION BY LOAN PURPOSE
PERCENTAGE OF WEIGHTED PERCENT OF
AGGREGATE MORTGAGE POOL BY AVERAGE AVERAGE OWNER-
NUMBER OF PRINCIPAL AGGREGATE PRINCIPAL WEIGHTED PRINCIPAL COMBINED PERCENT OF FULL OCCUPIED
MORTGAGE BALANCE BALANCE OF MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE DOCUMENTATION MORTGAGE
LOAN PURPOSE LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO MORTGAGE LOANS LOANS
----------------------------------------------------------------------------------------------------------------------------------
Refinance
and/or Cashout 63 4,584,571.06 87.85% 7.25% 72,771 79.92% 74.95% 99.33%
Purchase 11 634,029.43 12.15% 7.24% 57,639 83.95% 100.00% 85.72%
----------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.248% 70,522 80.41% 77.99% 97.68%
==================================================================================================================================
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTION BY OCCUPANCY STATUS
PERCENTAGE OF WEIGHTED PERCENT OF
AGGREGATE MORTGAGE POOL BY AVERAGE AVERAGE OWNER-
NUMBER OF PRINCIPAL AGGREGATE PRINCIPAL WEIGHTED PRINCIPAL COMBINED PERCENT OF FULL OCCUPIED
OCCUPANCY MORTGAGE BALANCE BALANCE OF MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE DOCUMENTATION MORTGAGE
STATUS LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO MORTGAGE LOANS LOANS
-----------------------------------------------------------------------------------------------------------------------------------
Owner Occupied 71 5,097,361.86 97.68% 7.30% 71,794 80.44% 77.47% 100.00%
Non-Owner
Occupied 3 121,238.63 2.32% 5.00% 40,413 79.37% 100.00% 0.00%
----------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.248% 70,522 80.41% 77.99% 97.68%
==================================================================================================================================
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTION BY PRODUCT TYPE
PERCENTAGE OF WEIGHTED PERCENT OF
AGGREGATE MORTGAGE POOL BY AVERAGE AVERAGE OWNER-
NUMBER OF PRINCIPAL AGGREGATE PRINCIPAL WEIGHTED PRINCIPAL COMBINED PERCENT OF FULL OCCUPIED
MORTGAGE BALANCE BALANCE OF MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE DOCUMENTATION MORTGAGE
PROPERTY TYPE LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO MORTGAGE LOANS LOANS
--------------------------------------------------------------------------------------------------------------------------------
ARM - 2Yr/ 1 Yr 39 2,786,433.56 53.39% 7.26% 71,447 81.21% 77.82% 97.07%
ARM - 2 Yr/ 6 Month 13 842,491.81 16.14% 8.16% 64,807 80.11% 81.88% 95.29%
ARM - 3Yr/ 1 Yr 7 613,834.61 11.76% 5.71% 87,691 78.94% 51.65% 100.00%
ARM - 2Yr/ 1 Yr Call 7 412,663.44 7.91% 7.59% 58,952 77.03% 80.32% 100.00%
ARM - 1 Yr 4 234,439.53 4.49% 7.61% 58,610 83.82% 100.00% 100.00%
ARM - 6 Month 3 206,208.16 3.95% 7.02% 68,736 77.72% 100.00% 100.00%
ARM - 1 Yr/ 6 Month 1 122,529.38 2.35% 6.89% 122,529 81.16% 100.00% 100.00%
-----------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.248% 70,522 80.41% 77.99% 97.68%
===================================================================================================================================
CIT HOME EQUITY LOAN TRUST 1998-1
AS OF JUNE 30, 2004
GROUP II
DISTRIBUTION BY INDEX TYPE
PERCENTAGE OF WEIGHTED PERCENT OF
AGGREGATE MORTGAGE POOL BY AVERAGE AVERAGE OWNER-
NUMBER OF PRINCIPAL AGGREGATE PRINCIPAL WEIGHTED PRINCIPAL COMBINED PERCENT OF FULL OCCUPIED
MORTGAGE BALANCE BALANCE OF MORTGAGE AVERAGE BALANCE LOAN-TO-VALUE DOCUMENTATION MORTGAGE
LIEN TYPE LOANS OUTSTANDING LOANS COUPON OUTSTANDING RATIO MORTGAGE LOANS LOANS
-----------------------------------------------------------------------------------------------------------------------------------
Treasury - 1 Yr 57 4,047,371.14 77.56% 7.08% 71,007 80.59% 75.39% 97.98%
Libor - 6 Month 17 1,171,229.35 22.44% 7.83% 68,896 79.80% 86.97% 96.62%
-----------------------------------------------------------------------------------------------------------------------------------
Total: 74 5,218,600.49 100.00% 7.248% 70,522 80.41% 77.99% 97.68%
===================================================================================================================================
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