In 2011, lenders reported 368 mortgage applications in Faribault County, MN totaling $34.2 million, down 21% from 2010. The average application was for $93,000, and applicants reported an average income of $57,000. 51% of applications resulted in an originated loan and 23% were denied. The most active lender was Wells Federal Bank, with 114 applications, followed by Wells Fargo Bank NA and Compeer Financial.
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| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 368 |
| Total Mortgage Loan Application Amount | $34,241,000 |
| Average Mortgage Loan Application Amount | $93,000 |
| Highest Mortgage Loan Application Amount | $392,000 |
| Average Applicant Income | $57,000 |
| Highest Applicant Income | $351,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| Wells Federal Bank 53 1ST ST SW WELLS, MN 56097 |
* | $ 238,403,000 | 114 | $ 10,696,000 |
| Wells Fargo Bank NA MINNEAPOLIS, MN 55415 |
* | $ 1,104,833,000,000 | 69 | $ 5,028,000 |
| Compeer Financial 2600 JENNY WREN TRAIL SUN PRAIRIE, WI 53590 |
* | $ 10,000,000 | 32 | $ 4,271,000 |
| US Bank, N.A. 425 WALNUT STREET CINCINNATI, OH 45202 |
* | $ 310,099,589,000 | 12 | $ 1,749,000 |
| Pioneer Bank 320 STADIUM ROAD SUITE 100 MANKATO, MN 56001 |
* | $ 265,903,000 | 11 | $ 271,000 |
| Community Bank Mankato 300 ST ANDREWS DR VERNON CENTER, MN 56090 |
* | $ 174,233,000 | 8 | $ 774,000 |
| Embrace Home Loans, Inc. 25 ENTERPRISE CENTER MIDDLETOWN, RI 02842 |
* | $ 10,000,000 | 8 | $ 637,000 |
| US Bk NA Nd 4325 17TH AVENUE, S.W. FARGO, ND 58103 |
* | $ 5,955,059,000 | 8 | $ 406,000 |
| JPMorgan Chase Bank, NA 1111 POLARIS PARKWAY COLUMBUS, OH 43240 |
* | $ 1,791,060,000,000 | 6 | $ 628,000 |
| Citizens Community Federal 2174 EASTRIDGE CENTER EAU CLAIRE, WI 54701 |
* | $ 580,338,000 | 5 | $ 219,000 |
| Fifth Third Mortgage Company 5001 KINGSLEY DRIVE MD 1MOB2W CINCINNATI, OH 45227 |
* | $ 108,971,662,000 | 4 | $ 406,000 |
| Affinity Plus Federal Credit Union 175 WEST LAFAYETTE FRONTAGE ROAD SAINT PAUL, MN 55107 |
* | $ 1,303,401,000 | 4 | $ 372,000 |
| Ally Bank 2101 REXFORD ROAD, SUITE 350W CHARLOTTE, NC 28211 |
* | $ 77,423,723,000 | 4 | $ 562,000 |
| M&I Bank FSB W57N14280 DOERR WAY CEDARBURG, WI 53012 |
* | $ 1,311,970,000 | 3 | $ 287,000 |
| Bank of America NA 31303 AGOURA RD CA6-917-01-20 WESTLAKE VILLAGE, CA 91361 |
* | $ 1,454,050,584,000 | 3 | $ 253,000 |
| Reunion Mortgage, Inc 860 HILLVIEW COURT #300 MILPITAS, CA 95035 |
* | $ 10,000,000 | 3 | $ 385,000 |
| Flagstar Bank NA TROY, MI 49098 |
* | $ 12,648,357,000 | 3 | $ 391,000 |
| Home Federal Savings Bank 1016 CIVIC CENTER DR NW ROCHESTER, MN 55901 |
* | $ 880,740,000 | 3 | $ 250,000 |
| Bell Bank 3100 13TH AVE S FARGO, ND 58103 |
* | $ 2,071,664,000 | 3 | $ 204,000 |
| First State Mortgage Services 502 N HERSHEY ROAD BLOOMINGTON, IL 61704 |
* | $ 327,995,000 | 3 | $ 262,000 |
| Hiway Credit Union 111 EMPIRE DRIVE SAINT PAUL, MN 55103 |
* | $ 828,468,000 | 3 | $ 146,000 |
| Frandsen Bank & Trust 116 CENTRAL STREET WEST LONSDALE, MN 55046 |
* | $ 997,127,000 | 3 | $ 292,000 |
| St. Clair State Bank 100 WEST MAIN STREET PO BOX 39 ST. CLAIR, MN 56080 |
* | $ 68,383,000 | 2 | $ 101,000 |
| Roundbank 200 SECOND STREET NE, PO BOX 667 WASECA, MN 56093 |
* | $ 312,592,000 | 2 | $ 76,000 |
| Citizens Bank Minnesota 105 NORTH MINNESOTA STREET NEW ULM, MN 56073 |
* | $ 298,059,000 | 2 | $ 176,000 |
| United Prairie Bank 10 FIRESTONE DRIVE, SUITE 300 MANKATO, MN 56001 |
* | $ 524,727,000 | 2 | $ 67,000 |
| Colonial Savings P O BOX 2988 FORT WORTH, TX 76102 |
* | $ 1,054,163,000 | 2 | $ 307,000 |
| Clearpoint Funding, Inc. 4 TECHNOLOGY DRIVE, SUITE 200 WESTBOROUGH, MA 01581 |
* | $ 10,000,000 | 2 | $ 200,000 |
| American Equity Mortgage, Inc. 11933 WESTLINE INDUSTRIAL DRIVE SAINT LOUIS, MO 63146 |
* | $ 10,000,000 | 2 | $ 346,000 |
| Iowa Bankers Mortgage Corporation 8800 NW 62ND AVE JOHNSTON, IA 50131 |
* | $ 10,000,000 | 2 | $ 253,000 |
| New Day Financial, Llc. 360 SOUTH ROSEMARY AVENUE SUITE 1900 WEST PALM BEACH, FL 33401 |
* | $ 4,088,336,000 | 2 | $ 176,000 |
| Mortgage Investors Corp 6090 CENTRAL AVE ST. PETERSBURG, FL 33707 |
* | $ 10,000,000 | 2 | $ 223,000 |
| Summit Mortgage Corporation 13355 10TH AVE N, SUITE 100 PLYMOUTH, MN 55442 |
* | $ 10,000,000 | 2 | $ 528,000 |
| USAA Federal Savings Bank 10750 MCDERMOTT FREEWAY SAN ANTONIO, TX 78288 |
* | $ 48,783,813,000 | 2 | $ 265,000 |
| Gmac Mortgage, LLC 1100 VIRGINIA DRIVE FT. WASHINGTON, PA 19034 |
* | $ 31,000,000 | 2 | $ 319,000 |
| Onemain Financial Servi 300 ST. PAUL PLACE BALTIMORE, MD 21202 |
* | $ 0 | 2 | $ 118,000 |
| Citimortgage, Inc. 1 COURT SQUARE, 43RD FLOOR LONG ISLAND CITY, NY 11120 |
* | $ 1,019,497,000,000 | 1 | $ 153,000 |
| M&I Marshall & Ilsley Bank W57N14280 DOERR WAY CEDARBURG, WI 53012 |
* | $ 44,975,270,000 | 1 | $ 160,000 |
| First Farmers & Merchants National Bank 114 SOUTH PARK STREET FAIRMONT, MN 56031 |
* | $ 84,344,000 | 1 | $ 61,000 |
| Midcountry Bank 7825 WASHINGTON AVE. S., STE. 120 BLOOMINGTON, MN 55439 |
* | $ 727,106,000 | 1 | $ 137,000 |
| First National Bank of Omaha 1620 DODGE STREET OMAHA, NE 68197 |
* | $ 12,658,976,000 | 1 | $ 60,000 |
| Envoy Mortgage, Ltd 10496 KATY FWY STE 250 HOUSTON, TX 77024 |
* | $ 10,000,000 | 1 | $ 83,000 |
| Citibank, NA NEW YORK, NY 10012 |
* | $ 1,216,291,000,000 | 1 | $ 107,000 |
| Rescue Mortgage Inc 10740 LYNDALE AVE S, SUITE 19E BLOOMINGTON, MN 55420 |
* | $ 1,507,000 | 1 | $ 87,000 |
| Marketplace Home Mortgage, LLC 7380 FRANCE AVE S, STE 200 EDINA, MN 55435 |
* | $ 11,000,000 | 1 | $ 154,000 |
| Consumer Loan Services, LLC 811 MONITOR STREET LA CROSSE, WI 54603 |
* | $ 10,000,000 | 1 | $ 99,000 |
| PHH Mortgage Corporation WEST PALM BEACH, FL 33409 |
* | $ 31,000,000 | 1 | $ 19,000 |
| Home Loan Center, Inc. 11115 RUSHMORE DRIVE CHARLOTTE, NC 28277 |
* | $ 10,000,000 | 1 | $ 183,000 |
| Mid-Island Mortgage Corp. 900 MERCHANTS CONCOURSE, SUITE #112 WESTBURY, NY 11590 |
* | $ 10,000,000 | 1 | $ 39,000 |
| Fairway Independent Mort Corp 4801 S. BILTMORE LANE MADISON, WI 53718 |
* | $ 10,000,000 | 1 | $ 82,000 |
| Qr Lending Inc 555 ZOR SHRINE PLACE MADISON, WI 53719 |
* | $ 1,093,327,000 | 1 | $ 144,000 |
| United Fidelity Funding Corp. 1300 NW BRIARCLIFF PKWY SUITE 275 JEFFERSON CITY, MO 64150 |
* | $ 1,000,000,000 | 1 | $ 95,000 |
| Provident Funding Associates 1235 NORTH DUTTON AVE STE E SANTA ROSA, CA 95401 |
* | $ 10,000,000 | 1 | $ 173,000 |
| Tcf National Bank 2508 LOUISE AVE S (PCC-2E-L) SIOUX FALLS, SD 57106 |
* | $ 18,734,814,000 | 1 | $ 28,000 |
| E*Trade Bank 671 NORTH GLEBE ROAD, 12TH FLOOR ARLINGTON, VA 22203 |
* | $ 44,883,561,000 | 1 | $ 150,000 |
| Admirals Bank 15 PARK ROW WEST PROVIDENCE, RI 02903 |
* | $ 341,542,000 | 1 | $ 8,000 |
| Wells Fargo Funding, Inc 100 N MAIN STREEET MAC D4001-063 WINSTON-SALEM, NC 27150 |
* | $ 25,457,000 | 1 | $ 137,000 |
| Lake Area Bank 12790 FIRST AVE N - PO BOX 743 LINDSTROM, MN 55045 |
* | $ 283,889,000 | 1 | $ 33,000 |
The tables below break down 2011 mortgage applications in Faribault County, MN by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing | 212 | $21,213,000 | $100,000 | $368,000 | $63,000 | $351,000 |
| Home Purchase | 125 | $12,231,000 | $97,000 | $392,000 | $49,000 | $210,000 |
| Home Improvement | 31 | $797,000 | $25,000 | $145,000 | $53,000 | $129,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 332 | $30,631,000 | $92,000 | $392,000 | $61,000 | $351,000 |
| Not applicable | 19 | $1,707,000 | $89,000 | $160,000 | $5,000 | $76,000 |
| Not Provided | 11 | $1,380,000 | $125,000 | $368,000 | $55,000 | $142,000 |
| Hispanic | 5 | $498,000 | $99,000 | $245,000 | $55,000 | $150,000 |
| Asian | 1 | $25,000 | $25,000 | $25,000 | $19,000 | $19,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 276 | $26,299,000 | $95,000 | $392,000 | $65,000 | $351,000 |
| FHA-insured (Federal Housing Administration) | 55 | $4,765,000 | $86,000 | $274,000 | $39,000 | $180,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 26 | $1,963,000 | $75,000 | $171,000 | $25,000 | $77,000 |
| VA-guaranteed (Veterans Administration) | 11 | $1,214,000 | $110,000 | $150,000 | $45,000 | $109,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 188 | $17,452,000 | $92,000 | $392,000 | $63,000 | $351,000 |
| Application Denied By Financial Institution | 86 | $6,623,000 | $77,000 | $263,000 | $50,000 | $274,000 |
| Application Withdrawn By Applicant | 50 | $5,851,000 | $117,000 | $380,000 | $61,000 | $224,000 |
| Loan Purchased By The Institution | 24 | $2,274,000 | $94,000 | $165,000 | $21,000 | $127,000 |
| Application Approved But Not Accepted | 12 | $1,177,000 | $98,000 | $232,000 | $75,000 | $265,000 |
| File Closed For Incompleteness | 8 | $864,000 | $108,000 | $183,000 | $51,000 | $120,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Credit History | 25 | $1,055,000 | $42,000 | $114,000 | $39,000 | $129,000 |
| Debt-To-Income Ratio | 15 | $1,813,000 | $120,000 | $263,000 | $60,000 | $274,000 |
| Collateral | 15 | $1,220,000 | $81,000 | $150,000 | $57,000 | $110,000 |
| Other | 11 | $654,000 | $59,000 | $118,000 | $70,000 | $142,000 |
| Mortgage Insurance Denied | 3 | $229,000 | $76,000 | $129,000 | $61,000 | $133,000 |
| Credit Application Incomplete | 3 | $412,000 | $137,000 | $209,000 | $36,000 | $84,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $156,000 | $156,000 | $156,000 | $73,000 | $73,000 |
| Unverifiable Information | 1 | $19,000 | $19,000 | $19,000 | $19,000 | $19,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
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