Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2015
In 2015, Frandsen Bank & Trust of Lonsdale, MN reported 1,264 mortgage applications totaling $187.8 million. The average application was for $148,576, and applicants reported an average income of $85,678. 77% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (237), Duluth, MN-WI (235) and Grand Forks, ND-MN (151) (applications in parentheses).
| Mortgage Company & Address | Frandsen Bank & Trust 116 Central Street West Lonsdale, MN 55046 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 |
| Total Number of Mortgage Applications | 1,264 |
| Total Mortgage Loan Application Amount | $187,801,000 |
| Average Mortgage Loan Application Amount | $148,576 |
| Highest Mortgage Loan Application Amount | $4,307,000 |
| Average Applicant Income | $85,678 |
| Highest Applicant Income | $1,454,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| St. Louis, Minnesota | 157 | $ 19,777,000 | $ 125,968 | $ 96,000 |
| Grand Forks, North Dakota | 86 | $ 11,803,000 | $ 137,244 | $ 90,000 |
| Carlton, Minnesota | 76 | $ 9,770,000 | $ 128,552 | $ 88,000 |
| Crow Wing, Minnesota | 73 | $ 12,113,000 | $ 165,931 | $ 91,000 |
| Polk, Minnesota | 65 | $ 9,164,000 | $ 140,984 | $ 100,000 |
| Brown, Minnesota | 62 | $ 6,650,000 | $ 107,258 | $ 65,000 |
| Rice, Minnesota | 53 | $ 8,425,000 | $ 158,962 | $ 71,000 |
| Polk, Wisconsin | 47 | $ 4,605,000 | $ 97,978 | $ 67,000 |
| Le Sueur, Minnesota | 44 | $ 5,884,000 | $ 133,727 | $ 90,000 |
| Nicollet, Minnesota | 41 | $ 6,525,000 | $ 159,146 | $ 71,000 |
| Scott, Minnesota | 41 | $ 8,361,000 | $ 203,926 | $ 98,000 |
| Benton, Minnesota | 37 | $ 4,082,000 | $ 110,324 | $ 62,000 |
| Pine, Minnesota | 35 | $ 4,014,000 | $ 114,685 | $ 69,000 |
| Blue Earth, Minnesota | 34 | $ 5,360,000 | $ 157,647 | $ 59,000 |
| Isanti, Minnesota | 26 | $ 3,600,000 | $ 138,461 | $ 92,000 |
| Kanabec, Minnesota | 21 | $ 2,141,000 | $ 101,952 | $ 68,000 |
| Norman, Minnesota | 21 | $ 2,057,000 | $ 97,952 | $ 65,000 |
| Hennepin, Minnesota | 20 | $ 5,644,000 | $ 282,200 | $ 94,000 |
| Burnett, Wisconsin | 20 | $ 2,649,000 | $ 132,450 | $ 76,000 |
| Chisago, Minnesota | 18 | $ 3,088,000 | $ 171,555 | $ 82,000 |
| Anoka, Minnesota | 17 | $ 2,929,000 | $ 172,294 | $ 107,000 |
| Big Stone, Minnesota | 17 | $ 1,392,000 | $ 81,882 | $ 65,000 |
| Cass, Minnesota | 16 | $ 3,214,000 | $ 200,875 | $ 165,000 |
| Dakota, Minnesota | 14 | $ 3,061,000 | $ 218,642 | $ 92,000 |
| Mille Lacs, Minnesota | 14 | $ 1,786,000 | $ 127,571 | $ 58,000 |
| Renville, Minnesota | 14 | $ 1,690,000 | $ 120,714 | $ 60,000 |
| Washington, Minnesota | 14 | $ 10,550,000 | $ 753,571 | $ 127,000 |
| Marshall, Minnesota | 13 | $ 817,000 | $ 62,846 | $ 57,000 |
| Lake, Minnesota | 11 | $ 1,863,000 | $ 169,363 | $ 112,000 |
| Ramsey, Minnesota | 11 | $ 3,802,000 | $ 345,636 | $ 132,000 |
| Waseca, Minnesota | 11 | $ 1,050,000 | $ 95,454 | $ 43,000 |
| Morrison, Minnesota | 9 | $ 890,000 | $ 98,888 | $ 99,000 |
| Itasca, Minnesota | 7 | $ 537,000 | $ 76,714 | $ 53,000 |
| Aitkin, Minnesota | 6 | $ 1,235,000 | $ 205,833 | $ 118,000 |
| Stearns, Minnesota | 6 | $ 925,000 | $ 154,166 | $ 84,000 |
| Cass, North Dakota | 5 | $ 743,000 | $ 148,600 | $ 259,000 |
| Traill, North Dakota | 5 | $ 533,000 | $ 106,600 | $ 67,000 |
| St. Croix, Wisconsin | 5 | $ 885,000 | $ 177,000 | $ 60,000 |
| Carver, Minnesota | 4 | $ 1,165,000 | $ 291,250 | $ 133,000 |
| McLeod, Minnesota | 4 | $ 642,000 | $ 160,500 | $ 50,000 |
| Steele, Minnesota | 4 | $ 328,000 | $ 82,000 | $ 68,000 |
| Wright, Minnesota | 4 | $ 918,000 | $ 229,500 | $ 195,000 |
| Becker, Minnesota | 3 | $ 1,418,000 | $ 472,666 | $ 207,000 |
| Kandiyohi, Minnesota | 3 | $ 248,000 | $ 82,666 | $ 54,000 |
| Sherburne, Minnesota | 3 | $ 640,000 | $ 213,333 | $ 88,000 |
| Walsh, North Dakota | 3 | $ 226,000 | $ 75,333 | $ 50,000 |
| Beltrami, Minnesota | 2 | $ 875,000 | $ 437,500 | $ 113,000 |
| Clay, Minnesota | 2 | $ 262,000 | $ 131,000 | $ 69,000 |
| Hubbard, Minnesota | 2 | $ 460,000 | $ 230,000 | $ 105,000 |
| Lake of the Woods, Minnesota | 2 | $ 311,000 | $ 155,500 | $ 132,000 |
| Mahnomen, Minnesota | 2 | $ 355,000 | $ 177,500 | $ 91,000 |
| Martin, Minnesota | 2 | $ 390,000 | $ 195,000 | $ 89,000 |
| Sibley, Minnesota | 2 | $ 162,000 | $ 81,000 | $ 63,000 |
| Todd, Minnesota | 2 | $ 117,000 | $ 58,500 | $ 83,000 |
| Minnehaha, South Dakota | 2 | $ 292,000 | $ 146,000 | $ 60,000 |
| Barron, Wisconsin | 2 | $ 210,000 | $ 105,000 | $ 56,000 |
| Douglas, Wisconsin | 2 | $ 125,000 | $ 62,500 | $ 122,000 |
| Sawyer, Wisconsin | 2 | $ 254,000 | $ 127,000 | $ 52,000 |
| Washburn, Wisconsin | 2 | $ 124,000 | $ 62,000 | $ 74,000 |
| Maricopa, Arizona | 1 | $ 103,000 | $ 103,000 | $ 134,000 |
| Routt, Colorado | 1 | $ 137,000 | $ 137,000 | $ 46,000 |
| Lake, Florida | 1 | $ 173,000 | $ 173,000 | $ 249,000 |
| Lee, Florida | 1 | $ 115,000 | $ 115,000 | $ 74,000 |
| Freeborn, Minnesota | 1 | $ 372,000 | $ 372,000 | $ 48,000 |
| Kittson, Minnesota | 1 | $ 20,000 | $ 20,000 | $ 50,000 |
| Koochiching, Minnesota | 1 | $ 184,000 | $ 184,000 | $ 89,000 |
| Meeker, Minnesota | 1 | $ 111,000 | $ 111,000 | $ 34,000 |
| Olmsted, Minnesota | 1 | $ 106,000 | $ 106,000 | $ 42,000 |
| Pennington, Minnesota | 1 | $ 134,000 | $ 134,000 | $ 54,000 |
| Pope, Minnesota | 1 | $ 156,000 | $ 156,000 | $ 91,000 |
| Redwood, Minnesota | 1 | $ 30,000 | $ 30,000 | $ 54,000 |
| Wadena, Minnesota | 1 | $ 127,000 | $ 127,000 | $ 49,000 |
| Watonwan, Minnesota | 1 | $ 160,000 | $ 160,000 | $ 57,000 |
| Nelson, North Dakota | 1 | $ 80,000 | $ 80,000 | $ 128,000 |
| Towner, North Dakota | 1 | $ 84,000 | $ 84,000 | $ 50,000 |
| Brookings, South Dakota | 1 | $ 41,000 | $ 41,000 | $ 113,000 |
| Grant, South Dakota | 1 | $ 138,000 | $ 138,000 | $ 92,000 |
| Lincoln, South Dakota | 1 | $ 126,000 | $ 126,000 | $ 124,000 |
| Dunn, Wisconsin | 1 | $ 34,000 | $ 34,000 | $ 102,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2015
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 | 653 | $96,433,000 | $147,000 | $900,000 | $81,000 | $894,000 |
| Refinancing | 466 | $77,659,000 | $166,000 | $4,307,000 | $94,000 | $1,454,000 |
| Home Improvement | 145 | $13,709,000 | $94,000 | $450,000 | $80,000 | $479,000 |
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 | 1,106 | $155,996,000 | $141,000 | $900,000 | $87,000 | $1,454,000 |
| Not Provided | 83 | $13,709,000 | $165,000 | $635,000 | $122,000 | $877,000 |
| Not applicable | 48 | $14,639,000 | $304,000 | $4,307,000 | $0 | $0 |
| Hispanic | 14 | $1,588,000 | $113,000 | $218,000 | $61,000 | $175,000 |
| American Indian or Alaskan Native | 7 | $654,000 | $93,000 | $148,000 | $85,000 | $166,000 |
| Asian | 6 | $1,215,000 | $202,000 | $411,000 | $62,000 | $120,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 1,192 | $178,247,000 | $149,000 | $4,307,000 | $87,000 | $1,454,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 49 | $5,975,000 | $121,000 | $300,000 | $47,000 | $147,000 |
| FHA-insured (Federal Housing Administration) | 13 | $1,487,000 | $114,000 | $200,000 | $61,000 | $127,000 |
| VA-guaranteed (Veterans Administration) | 10 | $2,092,000 | $209,000 | $377,000 | $80,000 | $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 | 974 | $143,418,000 | $147,000 | $4,307,000 | $88,000 | $1,454,000 |
| Application Denied By Financial Institution | 130 | $17,684,000 | $136,000 | $635,000 | $58,000 | $331,000 |
| Application Withdrawn By Applicant | 104 | $18,458,000 | $177,000 | $900,000 | $102,000 | $877,000 |
| Application Approved But Not Accepted | 37 | $5,827,000 | $157,000 | $410,000 | $83,000 | $355,000 |
| Preapproval Denied by Financial Institution | 17 | $2,204,000 | $129,000 | $387,000 | $57,000 | $160,000 |
| File Closed For Incompleteness | 1 | $90,000 | $90,000 | $90,000 | $173,000 | $173,000 |
| Loan Purchased By The Institution | 1 | $120,000 | $120,000 | $120,000 | $0 | $0 |
| Preapproval 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 |
|---|---|---|---|---|---|---|
| Credit History | 67 | $8,225,000 | $122,000 | $635,000 | $60,000 | $331,000 |
| Debt-To-Income Ratio | 44 | $7,033,000 | $159,000 | $500,000 | $50,000 | $207,000 |
| Collateral | 18 | $2,252,000 | $125,000 | $225,000 | $71,000 | $138,000 |
| Employment History | 10 | $1,444,000 | $144,000 | $309,000 | $54,000 | $120,000 |
| Other | 6 | $530,000 | $88,000 | $139,000 | $49,000 | $89,000 |
| Unverifiable Information | 1 | $104,000 | $104,000 | $104,000 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $300,000 | $300,000 | $300,000 | $147,000 | $147,000 |
| 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 Frandsen Bank & Trust's 2015 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 Frandsen Bank & Trust'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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