First Solution Lending, Inc. Mortgage Lending & HMDA Data, 2005
In 2005, First Solution Lending, Inc. of Maple Grove, MN reported 876 mortgage applications totaling $143.3 million. The average application was for $163,530, and applicants reported an average income of $63,180. 24% of its applications resulted in an originated loan and 38% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (265), Phoenix-Mesa-Scottsdale, AZ (165) and Detroit-Livonia-Dearborn, MI (110) (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 | 876 |
| Total Mortgage Loan Application Amount | $143,253,000 |
| Average Mortgage Loan Application Amount | $163,530 |
| Highest Mortgage Loan Application Amount | $699,000 |
| Average Applicant Income | $63,180 |
| Highest Applicant Income | $904,000 |
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records First Solution Lending, Inc. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Maricopa, Arizona | 158 | $ 25,682,000 | $ 162,544 | $ 57,000 |
| Wayne, Michigan | 110 | $ 11,547,000 | $ 104,972 | $ 47,000 |
| Hennepin, Minnesota | 86 | $ 15,827,000 | $ 184,034 | $ 60,000 |
| Oakland, Michigan | 52 | $ 10,631,000 | $ 204,442 | $ 95,000 |
| Anoka, Minnesota | 44 | $ 8,178,000 | $ 185,863 | $ 58,000 |
| Ramsey, Minnesota | 42 | $ 7,819,000 | $ 186,166 | $ 60,000 |
| Genesee, Michigan | 35 | $ 3,961,000 | $ 113,171 | $ 60,000 |
| Dakota, Minnesota | 28 | $ 5,788,000 | $ 206,714 | $ 67,000 |
| Macomb, Michigan | 22 | $ 2,600,000 | $ 118,181 | $ 58,000 |
| Pima, Arizona | 18 | $ 3,202,000 | $ 177,888 | $ 57,000 |
| Washington, Minnesota | 14 | $ 3,184,000 | $ 227,428 | $ 85,000 |
| Chisago, Minnesota | 13 | $ 2,957,000 | $ 227,461 | $ 89,000 |
| Orange, Florida | 12 | $ 2,393,000 | $ 199,416 | $ 85,000 |
| Sherburne, Minnesota | 12 | $ 3,080,000 | $ 256,666 | $ 152,000 |
| Lapeer, Michigan | 10 | $ 1,479,000 | $ 147,900 | $ 60,000 |
| Scott, Minnesota | 9 | $ 2,136,000 | $ 237,333 | $ 65,000 |
| Carver, Minnesota | 8 | $ 2,049,000 | $ 256,125 | $ 89,000 |
| Pinal, Arizona | 7 | $ 877,000 | $ 125,285 | $ 43,000 |
| Crow Wing, Minnesota | 6 | $ 899,000 | $ 149,833 | $ 60,000 |
| Wright, Minnesota | 6 | $ 1,186,000 | $ 197,666 | $ 65,000 |
| Livingston, Michigan | 5 | $ 962,000 | $ 192,400 | $ 88,000 |
| Tuscola, Michigan | 5 | $ 613,000 | $ 122,600 | $ 59,000 |
| Washtenaw, Michigan | 5 | $ 780,000 | $ 156,000 | $ 201,000 |
| Goodhue, Minnesota | 5 | $ 770,000 | $ 154,000 | $ 56,000 |
| St. Louis, Minnesota | 5 | $ 1,064,000 | $ 212,800 | $ 58,000 |
| Monroe, Michigan | 4 | $ 972,000 | $ 243,000 | $ 108,000 |
| Saginaw, Michigan | 4 | $ 400,000 | $ 100,000 | $ 36,000 |
| Shiawassee, Michigan | 4 | $ 382,000 | $ 95,500 | $ 53,000 |
| St. Clair, Michigan | 4 | $ 582,000 | $ 145,500 | $ 63,000 |
| Mille Lacs, Minnesota | 4 | $ 649,000 | $ 162,250 | $ 80,000 |
| Kenosha, Wisconsin | 4 | $ 723,000 | $ 180,750 | $ 44,000 |
| Osceola, Florida | 3 | $ 639,000 | $ 213,000 | $ 62,000 |
| Kent, Michigan | 3 | $ 245,000 | $ 81,666 | $ 21,000 |
| Benton, Minnesota | 3 | $ 625,000 | $ 208,333 | $ 60,000 |
| Freeborn, Minnesota | 3 | $ 212,000 | $ 70,666 | $ 30,000 |
| Isanti, Minnesota | 3 | $ 678,000 | $ 226,000 | $ 62,000 |
| Morrison, Minnesota | 3 | $ 273,000 | $ 91,000 | $ 54,000 |
| Olmsted, Minnesota | 3 | $ 440,000 | $ 146,666 | $ 51,000 |
| Otter Tail, Minnesota | 3 | $ 337,000 | $ 112,333 | $ 47,000 |
| Stearns, Minnesota | 3 | $ 579,000 | $ 193,000 | $ 122,000 |
| Mohave, Arizona | 2 | $ 277,000 | $ 138,500 | $ 40,000 |
| Santa Cruz, Arizona | 2 | $ 194,000 | $ 97,000 | $ 34,000 |
| Broward, Florida | 2 | $ 571,000 | $ 285,500 | $ 65,000 |
| Hillsborough, Florida | 2 | $ 260,000 | $ 130,000 | $ 54,000 |
| Seminole, Florida | 2 | $ 392,000 | $ 196,000 | $ 46,000 |
| Volusia, Florida | 2 | $ 278,000 | $ 139,000 | $ 47,000 |
| Eaton, Michigan | 2 | $ 223,000 | $ 111,500 | $ 32,000 |
| Gladwin, Michigan | 2 | $ 243,000 | $ 121,500 | $ 68,000 |
| Jackson, Michigan | 2 | $ 197,000 | $ 98,500 | $ 55,000 |
| Blue Earth, Minnesota | 2 | $ 326,000 | $ 163,000 | $ 63,000 |
| Carlton, Minnesota | 2 | $ 238,000 | $ 119,000 | $ 47,000 |
| Clay, Minnesota | 2 | $ 341,000 | $ 170,500 | $ 62,000 |
| Kanabec, Minnesota | 2 | $ 628,000 | $ 314,000 | $ 73,000 |
| Mower, Minnesota | 2 | $ 226,000 | $ 113,000 | $ 41,000 |
| Pine, Minnesota | 2 | $ 256,000 | $ 128,000 | $ 69,000 |
| Sibley, Minnesota | 2 | $ 206,000 | $ 103,000 | $ 53,000 |
| Steele, Minnesota | 2 | $ 259,000 | $ 129,500 | $ 43,000 |
| Fairfax, Virginia | 2 | $ 610,000 | $ 305,000 | $ 68,000 |
| Henrico, Virginia | 2 | $ 212,000 | $ 106,000 | $ 41,000 |
| Prince William, Virginia | 2 | $ 683,000 | $ 341,500 | $ 106,000 |
| Polk, Wisconsin | 2 | $ 392,000 | $ 196,000 | $ 31,000 |
| Cochise, Arizona | 1 | $ 56,000 | $ 56,000 | $ 24,000 |
| Gila, Arizona | 1 | $ 56,000 | $ 56,000 | $ 54,000 |
| San Bernardino, California | 1 | $ 152,000 | $ 152,000 | $ 59,000 |
| Pueblo, Colorado | 1 | $ 350,000 | $ 350,000 | $ 180,000 |
| Collier, Florida | 1 | $ 315,000 | $ 315,000 | $ 0 |
| Hernando, Florida | 1 | $ 210,000 | $ 210,000 | $ 60,000 |
| Lake, Florida | 1 | $ 128,000 | $ 128,000 | $ 50,000 |
| Polk, Florida | 1 | $ 155,000 | $ 155,000 | $ 97,000 |
| Sarasota, Florida | 1 | $ 203,000 | $ 203,000 | $ 50,000 |
| Allegany, Maryland | 1 | $ 94,000 | $ 94,000 | $ 31,000 |
| Allegan, Michigan | 1 | $ 71,000 | $ 71,000 | $ 30,000 |
| Arenac, Michigan | 1 | $ 85,000 | $ 85,000 | $ 62,000 |
| Berrien, Michigan | 1 | $ 128,000 | $ 128,000 | $ 42,000 |
| Branch, Michigan | 1 | $ 81,000 | $ 81,000 | $ 80,000 |
| Chippewa, Michigan | 1 | $ 71,000 | $ 71,000 | $ 30,000 |
| Clinton, Michigan | 1 | $ 110,000 | $ 110,000 | $ 32,000 |
| Crawford, Michigan | 1 | $ 70,000 | $ 70,000 | $ 48,000 |
| Grand Traverse, Michigan | 1 | $ 279,000 | $ 279,000 | $ 57,000 |
| Huron, Michigan | 1 | $ 66,000 | $ 66,000 | $ 54,000 |
| Ingham, Michigan | 1 | $ 93,000 | $ 93,000 | $ 39,000 |
| Kalamazoo, Michigan | 1 | $ 194,000 | $ 194,000 | $ 24,000 |
| Kalkaska, Michigan | 1 | $ 68,000 | $ 68,000 | $ 60,000 |
| Manistee, Michigan | 1 | $ 94,000 | $ 94,000 | $ 35,000 |
| Mason, Michigan | 1 | $ 75,000 | $ 75,000 | $ 38,000 |
| Osceola, Michigan | 1 | $ 190,000 | $ 190,000 | $ 91,000 |
| Otsego, Michigan | 1 | $ 176,000 | $ 176,000 | $ 72,000 |
| Becker, Minnesota | 1 | $ 88,000 | $ 88,000 | $ 31,000 |
| Brown, Minnesota | 1 | $ 140,000 | $ 140,000 | $ 34,000 |
| Cass, Minnesota | 1 | $ 200,000 | $ 200,000 | $ 41,000 |
| Dodge, Minnesota | 1 | $ 170,000 | $ 170,000 | $ 84,000 |
| Faribault, Minnesota | 1 | $ 30,000 | $ 30,000 | $ 30,000 |
| Fillmore, Minnesota | 1 | $ 86,000 | $ 86,000 | $ 26,000 |
| Itasca, Minnesota | 1 | $ 183,000 | $ 183,000 | $ 38,000 |
| Jackson, Minnesota | 1 | $ 60,000 | $ 60,000 | $ 25,000 |
| Kandiyohi, Minnesota | 1 | $ 82,000 | $ 82,000 | $ 31,000 |
| Koochiching, Minnesota | 1 | $ 73,000 | $ 73,000 | $ 30,000 |
| Lake, Minnesota | 1 | $ 500,000 | $ 500,000 | $ 261,000 |
| Le Sueur, Minnesota | 1 | $ 118,000 | $ 118,000 | $ 35,000 |
| Lincoln, Minnesota | 1 | $ 106,000 | $ 106,000 | $ 51,000 |
| Marshall, Minnesota | 1 | $ 55,000 | $ 55,000 | $ 46,000 |
| Martin, Minnesota | 1 | $ 70,000 | $ 70,000 | $ 48,000 |
| McLeod, Minnesota | 1 | $ 168,000 | $ 168,000 | $ 89,000 |
| Nicollet, Minnesota | 1 | $ 110,000 | $ 110,000 | $ 46,000 |
| Watonwan, Minnesota | 1 | $ 107,000 | $ 107,000 | $ 0 |
| Burleigh, North Dakota | 1 | $ 93,000 | $ 93,000 | $ 0 |
| Pembina, North Dakota | 1 | $ 54,000 | $ 54,000 | $ 58,000 |
| Pierce, North Dakota | 1 | $ 71,000 | $ 71,000 | $ 36,000 |
| Ward, North Dakota | 1 | $ 55,000 | $ 55,000 | $ 28,000 |
| Arlington, Virginia | 1 | $ 150,000 | $ 150,000 | $ 46,000 |
| Norfolk, Virginia | 1 | $ 119,000 | $ 119,000 | $ 52,000 |
| Suffolk, Virginia | 1 | $ 147,000 | $ 147,000 | $ 38,000 |
| Dane, Wisconsin | 1 | $ 144,000 | $ 144,000 | $ 34,000 |
| Douglas, Wisconsin | 1 | $ 70,000 | $ 70,000 | $ 28,000 |
| Eau Claire, Wisconsin | 1 | $ 136,000 | $ 136,000 | $ 48,000 |
| Fond du Lac, Wisconsin | 1 | $ 131,000 | $ 131,000 | $ 125,000 |
| Marathon, Wisconsin | 1 | $ 93,000 | $ 93,000 | $ 32,000 |
| Marquette, Wisconsin | 1 | $ 146,000 | $ 146,000 | $ 48,000 |
| Milwaukee, Wisconsin | 1 | $ 117,000 | $ 117,000 | $ 35,000 |
| Racine, Wisconsin | 1 | $ 170,000 | $ 170,000 | $ 69,000 |
| Rock, Wisconsin | 1 | $ 100,000 | $ 100,000 | $ 40,000 |
| St. Croix, Wisconsin | 1 | $ 202,000 | $ 202,000 | $ 68,000 |
| Washington, Wisconsin | 1 | $ 223,000 | $ 223,000 | $ 69,000 |
| Waukesha, Wisconsin | 1 | $ 152,000 | $ 152,000 | $ 64,000 |
| Winnebago, Wisconsin | 1 | $ 105,000 | $ 105,000 | $ 33,000 |
Mortgage Loan Application Detail Totals for First Solution Lending, Inc. in 2005
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 | 499 | $88,049,000 | $165,625 | $699,000 | $57,375 | $904,000 |
| Home Purchase | 377 | $55,204,000 | $177,500 | $575,000 | $88,250 | $420,000 |
| 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 | 471 | $78,621,000 | $171,636 | $699,000 | $65,272 | $904,000 |
| Not Provided | 133 | $23,070,000 | $167,142 | $662,000 | $47,142 | $418,000 |
| Black or African American | 123 | $17,441,000 | $163,666 | $600,000 | $68,333 | $300,000 |
| Hispanic | 109 | $17,435,000 | $184,750 | $396,000 | $95,000 | $555,000 |
| Asian | 37 | $6,361,000 | $184,250 | $383,000 | $145,250 | $343,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $274,000 | $137,000 | $152,000 | $53,000 | $60,000 |
| American Indian or Alaskan Native | 1 | $51,000 | $51,000 | $51,000 | $22,000 | $22,000 |
| 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) | 876 | $143,253,000 | $175,454 | $699,000 | $78,545 | $904,000 |
| 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 | 332 | $54,793,000 | $159,666 | $699,000 | $88,111 | $904,000 |
| Application Withdrawn By Applicant | 331 | $57,101,000 | $194,000 | $662,000 | $69,900 | $446,000 |
| Loan Originated | 210 | $30,776,000 | $162,500 | $473,000 | $56,333 | $555,000 |
| File Closed For Incompleteness | 2 | $323,000 | $161,500 | $203,000 | $68,000 | $70,000 |
| Application Approved But Not Accepted | 1 | $260,000 | $260,000 | $260,000 | $67,000 | $67,000 |
| 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 |
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 | 125 | $19,872,000 | $139,857 | $575,000 | $60,428 | $300,000 |
| Credit History | 97 | $16,868,000 | $152,428 | $517,000 | $51,571 | $240,000 |
| Collateral | 73 | $11,950,000 | $173,500 | $699,000 | $62,333 | $904,000 |
| Employment History | 16 | $2,313,000 | $152,400 | $295,000 | $44,000 | $107,000 |
| Debt-To-Income Ratio | 11 | $2,190,000 | $203,333 | $600,000 | $67,333 | $238,000 |
| Unverifiable Information | 5 | $632,000 | $144,333 | $176,000 | $55,666 | $84,000 |
| Credit Application Incomplete | 3 | $578,000 | $244,500 | $400,000 | $95,500 | $156,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Solution Lending, Inc.'s 2005 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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