First Solution Lending, Inc. Mortgage Lending & HMDA Data, 2006
In 2006, First Solution Lending, Inc. of Maple Grove, MN reported 1,622 mortgage applications totaling $258.9 million, up 85% from 2005. The average application was for $159,635, and applicants reported an average income of $67,837. 29% of its applications resulted in an originated loan and 38% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (642), Orlando-Kissimmee, FL (189) and Detroit-Livonia-Dearborn, MI (159) (applications in parentheses).
| Mortgage Company & Address | First Solution Lending, Inc. 11332 86th Avenue North Maple Grove, MN 55369 |
| Federal Regulator | * available with data download |
| Years | 2006 2005 |
| Total Number of Mortgage Applications | 1,622 |
| Total Mortgage Loan Application Amount | $258,929,000 |
| Average Mortgage Loan Application Amount | $159,635 |
| Highest Mortgage Loan Application Amount | $784,000 |
| Average Applicant Income | $67,837 |
| Highest Applicant Income | $1,509,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Solution Lending, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Hennepin, Minnesota | 261 | $ 46,343,000 | $ 177,559 | $ 76,000 |
| Wayne, Michigan | 159 | $ 14,058,000 | $ 88,415 | $ 59,000 |
| Maricopa, Arizona | 143 | $ 27,111,000 | $ 189,587 | $ 69,000 |
| Orange, Florida | 126 | $ 21,630,000 | $ 171,666 | $ 64,000 |
| Ramsey, Minnesota | 85 | $ 14,167,000 | $ 166,670 | $ 75,000 |
| Anoka, Minnesota | 80 | $ 12,866,000 | $ 160,825 | $ 64,000 |
| Dakota, Minnesota | 78 | $ 14,480,000 | $ 185,641 | $ 79,000 |
| Washington, Minnesota | 40 | $ 8,116,000 | $ 202,900 | $ 76,000 |
| Oakland, Michigan | 39 | $ 6,747,000 | $ 173,000 | $ 99,000 |
| Osceola, Florida | 37 | $ 6,729,000 | $ 181,864 | $ 68,000 |
| Genesee, Michigan | 32 | $ 4,257,000 | $ 133,031 | $ 64,000 |
| Macomb, Michigan | 30 | $ 4,799,000 | $ 159,966 | $ 58,000 |
| Wright, Minnesota | 28 | $ 5,119,000 | $ 182,821 | $ 69,000 |
| Lee, Florida | 22 | $ 3,528,000 | $ 160,363 | $ 64,000 |
| Broward, Florida | 19 | $ 3,162,000 | $ 166,421 | $ 79,000 |
| Scott, Minnesota | 18 | $ 3,438,000 | $ 191,000 | $ 81,000 |
| Sherburne, Minnesota | 18 | $ 3,479,000 | $ 193,277 | $ 67,000 |
| Seminole, Florida | 15 | $ 2,896,000 | $ 193,066 | $ 63,000 |
| Polk, Florida | 13 | $ 2,042,000 | $ 157,076 | $ 56,000 |
| Isanti, Minnesota | 12 | $ 2,376,000 | $ 198,000 | $ 102,000 |
| Pima, Arizona | 11 | $ 1,692,000 | $ 153,818 | $ 67,000 |
| Lake, Florida | 11 | $ 1,736,000 | $ 157,818 | $ 73,000 |
| Stearns, Minnesota | 11 | $ 1,592,000 | $ 144,727 | $ 48,000 |
| Pinal, Arizona | 10 | $ 1,709,000 | $ 170,900 | $ 69,000 |
| Volusia, Florida | 10 | $ 1,375,000 | $ 137,500 | $ 43,000 |
| St. Louis, Minnesota | 10 | $ 826,000 | $ 82,600 | $ 59,000 |
| Collier, Florida | 9 | $ 2,329,000 | $ 258,777 | $ 91,000 |
| Carver, Minnesota | 9 | $ 1,687,000 | $ 187,444 | $ 86,000 |
| Chisago, Minnesota | 9 | $ 1,955,000 | $ 217,222 | $ 91,000 |
| Miami-Dade, Florida | 8 | $ 1,392,000 | $ 174,000 | $ 61,000 |
| Cass, North Dakota | 8 | $ 618,000 | $ 77,250 | $ 46,000 |
| Washtenaw, Michigan | 7 | $ 1,795,000 | $ 256,428 | $ 86,000 |
| Saginaw, Michigan | 6 | $ 497,000 | $ 82,833 | $ 43,000 |
| Benton, Minnesota | 6 | $ 900,000 | $ 150,000 | $ 68,000 |
| Clay, Minnesota | 6 | $ 582,000 | $ 97,000 | $ 64,000 |
| Mille Lacs, Minnesota | 6 | $ 979,000 | $ 163,166 | $ 82,000 |
| Brevard, Florida | 5 | $ 537,000 | $ 107,400 | $ 37,000 |
| Blue Earth, Minnesota | 5 | $ 648,000 | $ 129,600 | $ 54,000 |
| McLeod, Minnesota | 5 | $ 391,000 | $ 78,200 | $ 42,000 |
| Meeker, Minnesota | 5 | $ 440,000 | $ 88,000 | $ 41,000 |
| Milwaukee, Wisconsin | 5 | $ 637,000 | $ 127,400 | $ 51,000 |
| Polk, Wisconsin | 5 | $ 793,000 | $ 158,600 | $ 57,000 |
| Hillsborough, Florida | 4 | $ 829,000 | $ 207,250 | $ 63,000 |
| Pinellas, Florida | 4 | $ 470,000 | $ 117,500 | $ 62,000 |
| St. Clair, Michigan | 4 | $ 700,000 | $ 175,000 | $ 53,000 |
| Crow Wing, Minnesota | 4 | $ 615,000 | $ 153,750 | $ 83,000 |
| Freeborn, Minnesota | 4 | $ 406,000 | $ 101,500 | $ 27,000 |
| Goodhue, Minnesota | 4 | $ 451,000 | $ 112,750 | $ 58,000 |
| Kanabec, Minnesota | 4 | $ 687,000 | $ 171,750 | $ 60,000 |
| Mower, Minnesota | 4 | $ 322,000 | $ 80,500 | $ 31,000 |
| Winona, Minnesota | 4 | $ 223,000 | $ 55,750 | $ 41,000 |
| Traill, North Dakota | 4 | $ 254,000 | $ 63,500 | $ 33,000 |
| St. Croix, Wisconsin | 4 | $ 445,000 | $ 111,250 | $ 53,000 |
| Cochise, Arizona | 3 | $ 451,000 | $ 150,333 | $ 83,000 |
| Mohave, Arizona | 3 | $ 491,000 | $ 163,666 | $ 79,000 |
| Palm Beach, Florida | 3 | $ 538,000 | $ 179,333 | $ 60,000 |
| St. Lucie, Florida | 3 | $ 514,000 | $ 171,333 | $ 56,000 |
| Lapeer, Michigan | 3 | $ 286,000 | $ 95,333 | $ 50,000 |
| Livingston, Michigan | 3 | $ 464,000 | $ 154,666 | $ 56,000 |
| Carlton, Minnesota | 3 | $ 479,000 | $ 159,666 | $ 51,000 |
| Dodge, Minnesota | 3 | $ 387,000 | $ 129,000 | $ 53,000 |
| Lyon, Minnesota | 3 | $ 321,000 | $ 107,000 | $ 71,000 |
| Morrison, Minnesota | 3 | $ 436,000 | $ 145,333 | $ 59,000 |
| Fond du Lac, Wisconsin | 3 | $ 329,000 | $ 109,666 | $ 178,000 |
| Waukesha, Wisconsin | 3 | $ 512,000 | $ 170,666 | $ 80,000 |
| Riverside, California | 2 | $ 455,000 | $ 227,500 | $ 142,000 |
| Duval, Florida | 2 | $ 377,000 | $ 188,500 | $ 77,000 |
| Manatee, Florida | 2 | $ 281,000 | $ 140,500 | $ 34,000 |
| Marion, Florida | 2 | $ 339,000 | $ 169,500 | $ 50,000 |
| Pasco, Florida | 2 | $ 321,000 | $ 160,500 | $ 63,000 |
| Ingham, Michigan | 2 | $ 190,000 | $ 95,000 | $ 59,000 |
| Tuscola, Michigan | 2 | $ 249,000 | $ 124,500 | $ 48,000 |
| Becker, Minnesota | 2 | $ 322,000 | $ 161,000 | $ 59,000 |
| Big Stone, Minnesota | 2 | $ 74,000 | $ 37,000 | $ 45,000 |
| Le Sueur, Minnesota | 2 | $ 256,000 | $ 128,000 | $ 44,000 |
| Olmsted, Minnesota | 2 | $ 245,000 | $ 122,500 | $ 42,000 |
| Otter Tail, Minnesota | 2 | $ 212,000 | $ 106,000 | $ 42,000 |
| Pine, Minnesota | 2 | $ 180,000 | $ 90,000 | $ 36,000 |
| Renville, Minnesota | 2 | $ 156,000 | $ 78,000 | $ 37,000 |
| Rice, Minnesota | 2 | $ 452,000 | $ 226,000 | $ 74,000 |
| Steele, Minnesota | 2 | $ 223,000 | $ 111,500 | $ 48,000 |
| Swift, Minnesota | 2 | $ 315,000 | $ 157,500 | $ 45,000 |
| Watonwan, Minnesota | 2 | $ 177,000 | $ 88,500 | $ 51,000 |
| Brookings, South Dakota | 2 | $ 134,000 | $ 67,000 | $ 35,000 |
| Douglas, Wisconsin | 2 | $ 297,000 | $ 148,500 | $ 50,000 |
| Dunn, Wisconsin | 2 | $ 234,000 | $ 117,000 | $ 59,000 |
| Winnebago, Wisconsin | 2 | $ 218,000 | $ 109,000 | $ 75,000 |
| Matanuska-Susitna, Alaska | 1 | $ 252,000 | $ 252,000 | $ 96,000 |
| Coconino, Arizona | 1 | $ 172,000 | $ 172,000 | $ 58,000 |
| Yavapai, Arizona | 1 | $ 586,000 | $ 586,000 | $ 229,000 |
| Yuma, Arizona | 1 | $ 160,000 | $ 160,000 | $ 78,000 |
| Placer, California | 1 | $ 65,000 | $ 65,000 | $ 89,000 |
| Arapahoe, Colorado | 1 | $ 305,000 | $ 305,000 | $ 53,000 |
| Phillips, Colorado | 1 | $ 92,000 | $ 92,000 | $ 100,000 |
| Citrus, Florida | 1 | $ 109,000 | $ 109,000 | $ 37,000 |
| Escambia, Florida | 1 | $ 149,000 | $ 149,000 | $ 86,000 |
| Gilchrist, Florida | 1 | $ 158,000 | $ 158,000 | $ 67,000 |
| Hendry, Florida | 1 | $ 170,000 | $ 170,000 | $ 48,000 |
| Hernando, Florida | 1 | $ 152,000 | $ 152,000 | $ 70,000 |
| Highlands, Florida | 1 | $ 35,000 | $ 35,000 | $ 63,000 |
| Putnam, Florida | 1 | $ 175,000 | $ 175,000 | $ 53,000 |
| Sarasota, Florida | 1 | $ 242,000 | $ 242,000 | $ 78,000 |
| St. Johns, Florida | 1 | $ 130,000 | $ 130,000 | $ 57,000 |
| Sumter, Florida | 1 | $ 167,000 | $ 167,000 | $ 92,000 |
| Canyon, Idaho | 1 | $ 108,000 | $ 108,000 | $ 36,000 |
| Clinton, Iowa | 1 | $ 136,000 | $ 136,000 | $ 37,000 |
| Floyd, Iowa | 1 | $ 46,000 | $ 46,000 | $ 90,000 |
| Alcona, Michigan | 1 | $ 138,000 | $ 138,000 | $ 76,000 |
| Alpena, Michigan | 1 | $ 49,000 | $ 49,000 | $ 66,000 |
| Calhoun, Michigan | 1 | $ 66,000 | $ 66,000 | $ 50,000 |
| Gratiot, Michigan | 1 | $ 68,000 | $ 68,000 | $ 34,000 |
| Ionia, Michigan | 1 | $ 162,000 | $ 162,000 | $ 43,000 |
| Jackson, Michigan | 1 | $ 132,000 | $ 132,000 | $ 48,000 |
| Kalkaska, Michigan | 1 | $ 122,000 | $ 122,000 | $ 60,000 |
| Monroe, Michigan | 1 | $ 187,000 | $ 187,000 | $ 54,000 |
| Muskegon, Michigan | 1 | $ 117,000 | $ 117,000 | $ 65,000 |
| Roscommon, Michigan | 1 | $ 141,000 | $ 141,000 | $ 52,000 |
| Shiawassee, Michigan | 1 | $ 77,000 | $ 77,000 | $ 22,000 |
| St. Joseph, Michigan | 1 | $ 155,000 | $ 155,000 | $ 67,000 |
| Brown, Minnesota | 1 | $ 50,000 | $ 50,000 | $ 30,000 |
| Cass, Minnesota | 1 | $ 173,000 | $ 173,000 | $ 56,000 |
| Chippewa, Minnesota | 1 | $ 114,000 | $ 114,000 | $ 25,000 |
| Cottonwood, Minnesota | 1 | $ 50,000 | $ 50,000 | $ 25,000 |
| Faribault, Minnesota | 1 | $ 73,000 | $ 73,000 | $ 24,000 |
| Houston, Minnesota | 1 | $ 134,000 | $ 134,000 | $ 54,000 |
| Itasca, Minnesota | 1 | $ 153,000 | $ 153,000 | $ 42,000 |
| Jackson, Minnesota | 1 | $ 83,000 | $ 83,000 | $ 30,000 |
| Kandiyohi, Minnesota | 1 | $ 112,000 | $ 112,000 | $ 69,000 |
| Norman, Minnesota | 1 | $ 65,000 | $ 65,000 | $ 36,000 |
| Polk, Minnesota | 1 | $ 140,000 | $ 140,000 | $ 67,000 |
| Wadena, Minnesota | 1 | $ 52,000 | $ 52,000 | $ 30,000 |
| Waseca, Minnesota | 1 | $ 123,000 | $ 123,000 | $ 28,000 |
| Grand Forks, North Dakota | 1 | $ 88,000 | $ 88,000 | $ 53,000 |
| Pembina, North Dakota | 1 | $ 54,000 | $ 54,000 | $ 54,000 |
| Walsh, North Dakota | 1 | $ 83,000 | $ 83,000 | $ 18,000 |
| Codington, South Dakota | 1 | $ 137,000 | $ 137,000 | $ 41,000 |
| Davison, South Dakota | 1 | $ 58,000 | $ 58,000 | $ 16,000 |
| Grant, South Dakota | 1 | $ 94,000 | $ 94,000 | $ 58,000 |
| Minnehaha, South Dakota | 1 | $ 59,000 | $ 59,000 | $ 25,000 |
| Fairfax, Virginia | 1 | $ 472,000 | $ 472,000 | $ 91,000 |
| Gloucester, Virginia | 1 | $ 188,000 | $ 188,000 | $ 72,000 |
| New Kent, Virginia | 1 | $ 138,000 | $ 138,000 | $ 40,000 |
| Prince William, Virginia | 1 | $ 304,000 | $ 304,000 | $ 108,000 |
| Adams, Wisconsin | 1 | $ 136,000 | $ 136,000 | $ 34,000 |
| Burnett, Wisconsin | 1 | $ 124,000 | $ 124,000 | $ 57,000 |
| Chippewa, Wisconsin | 1 | $ 75,000 | $ 75,000 | $ 0 |
| Dane, Wisconsin | 1 | $ 184,000 | $ 184,000 | $ 71,000 |
| Eau Claire, Wisconsin | 1 | $ 119,000 | $ 119,000 | $ 43,000 |
| Iron, Wisconsin | 1 | $ 90,000 | $ 90,000 | $ 88,000 |
| Kenosha, Wisconsin | 1 | $ 147,000 | $ 147,000 | $ 58,000 |
| Outagamie, Wisconsin | 1 | $ 140,000 | $ 140,000 | $ 60,000 |
| Richland, Wisconsin | 1 | $ 103,000 | $ 103,000 | $ 42,000 |
| Waupaca, Wisconsin | 1 | $ 99,000 | $ 99,000 | $ 25,000 |
Mortgage Loan Application Detail Totals for First Solution Lending, Inc. in 2006
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 943 | $143,429,000 | $152,000 | $778,000 | $67,000 | $1,158,000 |
| Refinancing | 679 | $115,500,000 | $170,000 | $784,000 | $69,000 | $1,509,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 615 | $102,557,000 | $166,000 | $784,000 | $73,000 | $1,158,000 |
| Black or African American | 388 | $56,103,000 | $144,000 | $778,000 | $62,000 | $1,509,000 |
| Hispanic | 336 | $54,366,000 | $161,000 | $507,000 | $65,000 | $684,000 |
| Not Provided | 199 | $30,727,000 | $154,000 | $586,000 | $66,000 | $300,000 |
| Asian | 73 | $13,401,000 | $183,000 | $600,000 | $78,000 | $240,000 |
| Native Hawaiian or Other Pacific Islander | 8 | $1,487,000 | $185,000 | $347,000 | $93,000 | $216,000 |
| American Indian or Alaskan Native | 3 | $288,000 | $96,000 | $112,000 | $58,000 | $94,000 |
| Not applicable | 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) | 1,622 | $258,929,000 | $159,000 | $784,000 | $68,000 | $1,509,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 609 | $107,296,000 | $176,000 | $784,000 | $72,000 | $1,509,000 |
| Application Withdrawn By Applicant | 546 | $88,923,000 | $162,000 | $712,000 | $68,000 | $1,158,000 |
| Loan Originated | 467 | $62,710,000 | $134,000 | $600,000 | $63,000 | $252,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Other | 232 | $43,464,000 | $187,000 | $784,000 | $85,000 | $1,509,000 |
| Collateral | 116 | $18,099,000 | $156,000 | $591,000 | $72,000 | $684,000 |
| Credit History | 104 | $17,074,000 | $164,000 | $540,000 | $61,000 | $263,000 |
| Debt-To-Income Ratio | 78 | $13,005,000 | $166,000 | $527,000 | $50,000 | $170,000 |
| Unverifiable Information | 47 | $10,048,000 | $213,000 | $548,000 | $71,000 | $249,000 |
| Employment History | 24 | $4,273,000 | $178,000 | $396,000 | $61,000 | $135,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $290,000 | $290,000 | $290,000 | $100,000 | $100,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Solution Lending, Inc.'s 2006 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess First Solution Lending, Inc.'s mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
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