8-K 1 srz9503303v1.txt CIT HOME EQUITY LOAN TRUST 2003-1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 30, 2003 CIT Home Equity Loan Trust 2003-1 (Exact Name of Registrant as Specified in its Charter) N/A (State or other jurisdiction of incorporation) 333-64529-02 Not Applicable (Commission File Number) (IRS Employer Identification No.) c/o The CIT Group Securitization Corporation III 1 CIT Drive Livingston, New Jersey 07039-5703 (Address of principal executive offices and zip code) (Zip Code) Registrants' telephone number, including area code: (973) 535-3512 N/A (Former name or former address, if changed since last report) Item 7. FINANCIAL STATEMENT AND EXHIBITS -------------------------------- (c) Exhibits. The following is filed herewith. The exhibit numbers correspond with Item 601(b) of Regulation S-K. EXHIBIT NO. DESCRIPTION ----------- ----------- 99.1 Pool Data Report SIGNATURE 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 2003-1 By: The CIT Group/Consumer Finance, Inc., as Master Servicer By: /s/ Barbara Callahan ------------------------------- Name: Barbara Callahan Title: Vice President Dated: September 30, 2003 CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 MORTGAGE POOL CHARACTERISTICS Number of loans: 9,952 Aggregate outstanding principal balance $887,828,118 Average outstanding principal balance: $89,211 Range of outstanding principal balance: $43 to $795,933 Range of mortgage rates: 5.25% to 14.00% Weighted average mortgage rate: 8.200% Range of original combined loan to value ratios: 7.64% to 100.00% Weighted average combined loan-to-value ratio: 79.13% Range of remaining terms to stated maturity: 52 to 360 months Weighted average remaining term to stated maturity 324 months Full documentation loans as a percentage of current balance: 72.45% Loan secured by owner occupied properties as a percentage of current balance: 91.74% Range of original term: 60 to 360 months Weighted average original term: 332 months Lien position: First 90.02% Second 9.98% Weighted average FICO score: 627 CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES

CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 DISTRIBUTION BY ORIGINAL PRINCIPAL BALANCE

CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 DISTRIBUTION BY CURRENT PRINCIPAL BALANCE

CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 DISTRIBUTION BY CURRENT MORTGAGE RATES

CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 DISTRIBUTION BY REMAINING MONTHS TO STATED MATURITY

CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 DISTRIBUTION BY NUMBER OF MONTHS OF SEASONING (1)

(1) Seasoning calculated from each Mortgage Loan's interest start date, based upon a calendar month deemed to have 30 days, and a calendar year deemed to have 360 days. CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 DISTRIBUTION BY COMBINED LOAN-TO-VALUE RATIO (1)

(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. CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 DISTRIBUTION BY BORROWER FICO SCORE (1)

(1) Generally, FICO scores are determined at time of origination of the related Mortgage Loan. CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 DISTRIBUTION BY PRODUCT TYPE

CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 DISTRIBUTION BY LOAN PURPOSE

CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 DISTRIBUTION BY OCCUPANCY STATUS

CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 DISTRIBUTION BY BORROWER INCOME DOCUMENTATION TYPE

CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 DISTRIBUTION BY PROPERTY TYPE

CIT HOME EQUITY LOAN TRUST 2003-1 AS OF JUNE 30, 2003 DISTRIBUTION BY LIEN TYPE

CIT HOME EQUITY LOAN TRUST 2003-1 8-K