Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2016
In 2016, Frandsen Bank & Trust of Lonsdale, MN reported 1,403 mortgage applications totaling $219.9 million, up 11% from 2015. The average application was for $156,741, and applicants reported an average income of $91,287. 79% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (271), Duluth, MN-WI (239) and Grand Forks, ND-MN (221) (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 | 1,403 |
| Total Mortgage Loan Application Amount | $219,909,000 |
| Average Mortgage Loan Application Amount | $156,741 |
| Highest Mortgage Loan Application Amount | $1,804,000 |
| Average Applicant Income | $91,287 |
| Highest Applicant Income | $1,840,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 170 | $ 21,498,000 | $ 126,458 | $ 81,000 |
| Grand Forks, North Dakota | 123 | $ 22,254,000 | $ 180,926 | $ 82,000 |
| Polk, Minnesota | 98 | $ 14,874,000 | $ 151,775 | $ 82,000 |
| Rice, Minnesota | 80 | $ 14,148,000 | $ 176,850 | $ 88,000 |
| Brown, Minnesota | 67 | $ 7,926,000 | $ 118,298 | $ 74,000 |
| Carlton, Minnesota | 67 | $ 10,278,000 | $ 153,402 | $ 90,000 |
| Crow Wing, Minnesota | 63 | $ 13,220,000 | $ 209,841 | $ 128,000 |
| Le Sueur, Minnesota | 63 | $ 8,443,000 | $ 134,015 | $ 76,000 |
| Blue Earth, Minnesota | 56 | $ 9,829,000 | $ 175,517 | $ 94,000 |
| Scott, Minnesota | 49 | $ 10,061,000 | $ 205,326 | $ 110,000 |
| Benton, Minnesota | 38 | $ 4,824,000 | $ 126,947 | $ 76,000 |
| Pine, Minnesota | 37 | $ 4,737,000 | $ 128,027 | $ 64,000 |
| Polk, Wisconsin | 36 | $ 4,133,000 | $ 114,805 | $ 86,000 |
| Nicollet, Minnesota | 34 | $ 5,418,000 | $ 159,352 | $ 72,000 |
| Isanti, Minnesota | 27 | $ 3,793,000 | $ 140,481 | $ 71,000 |
| Hennepin, Minnesota | 26 | $ 6,175,000 | $ 237,500 | $ 158,000 |
| Chisago, Minnesota | 22 | $ 3,376,000 | $ 153,454 | $ 86,000 |
| Norman, Minnesota | 19 | $ 1,400,000 | $ 73,684 | $ 65,000 |
| Big Stone, Minnesota | 18 | $ 2,304,000 | $ 128,000 | $ 123,000 |
| Cass, Minnesota | 17 | $ 2,762,000 | $ 162,470 | $ 93,000 |
| Kanabec, Minnesota | 16 | $ 1,614,000 | $ 100,875 | $ 65,000 |
| Renville, Minnesota | 15 | $ 1,491,000 | $ 99,400 | $ 68,000 |
| Washington, Minnesota | 15 | $ 3,288,000 | $ 219,200 | $ 146,000 |
| Burnett, Wisconsin | 14 | $ 1,810,000 | $ 129,285 | $ 100,000 |
| Dakota, Minnesota | 13 | $ 2,360,000 | $ 181,538 | $ 164,000 |
| Lake, Minnesota | 13 | $ 2,585,000 | $ 198,846 | $ 165,000 |
| Anoka, Minnesota | 12 | $ 2,359,000 | $ 196,583 | $ 116,000 |
| Carver, Minnesota | 11 | $ 2,893,000 | $ 263,000 | $ 125,000 |
| Mille Lacs, Minnesota | 11 | $ 1,330,000 | $ 120,909 | $ 63,000 |
| Itasca, Minnesota | 9 | $ 1,002,000 | $ 111,333 | $ 66,000 |
| Aitkin, Minnesota | 8 | $ 1,409,000 | $ 176,125 | $ 130,000 |
| Ramsey, Minnesota | 7 | $ 1,009,000 | $ 144,142 | $ 36,000 |
| Stearns, Minnesota | 7 | $ 1,307,000 | $ 186,714 | $ 87,000 |
| Olmsted, Minnesota | 6 | $ 1,058,000 | $ 176,333 | $ 165,000 |
| Waseca, Minnesota | 6 | $ 691,000 | $ 115,166 | $ 60,000 |
| Kandiyohi, Minnesota | 5 | $ 788,000 | $ 157,600 | $ 102,000 |
| Marshall, Minnesota | 5 | $ 589,000 | $ 117,800 | $ 82,000 |
| St. Croix, Wisconsin | 5 | $ 1,658,000 | $ 331,600 | $ 176,000 |
| Morrison, Minnesota | 4 | $ 501,000 | $ 125,250 | $ 118,000 |
| Sherburne, Minnesota | 4 | $ 704,000 | $ 176,000 | $ 119,000 |
| Cass, North Dakota | 4 | $ 817,000 | $ 204,250 | $ 91,000 |
| Walsh, North Dakota | 4 | $ 241,000 | $ 60,250 | $ 90,000 |
| Hubbard, Minnesota | 3 | $ 542,000 | $ 180,666 | $ 78,000 |
| Martin, Minnesota | 3 | $ 445,000 | $ 148,333 | $ 81,000 |
| Meeker, Minnesota | 3 | $ 343,000 | $ 114,333 | $ 51,000 |
| Redwood, Minnesota | 3 | $ 185,000 | $ 61,666 | $ 84,000 |
| Sibley, Minnesota | 3 | $ 274,000 | $ 91,333 | $ 34,000 |
| Steele, Minnesota | 3 | $ 338,000 | $ 112,666 | $ 85,000 |
| Todd, Minnesota | 3 | $ 480,000 | $ 160,000 | $ 47,000 |
| Wabasha, Minnesota | 3 | $ 760,000 | $ 253,333 | $ 160,000 |
| Maricopa, Arizona | 2 | $ 463,000 | $ 231,500 | $ 142,000 |
| Pinal, Arizona | 2 | $ 375,000 | $ 187,500 | $ 133,000 |
| Becker, Minnesota | 2 | $ 450,000 | $ 225,000 | $ 146,000 |
| Clay, Minnesota | 2 | $ 336,000 | $ 168,000 | $ 109,000 |
| Lake of the Woods, Minnesota | 2 | $ 259,000 | $ 129,500 | $ 94,000 |
| Pennington, Minnesota | 2 | $ 628,000 | $ 314,000 | $ 34,000 |
| Douglas, Wisconsin | 2 | $ 195,000 | $ 97,500 | $ 53,000 |
| Pierce, Wisconsin | 2 | $ 519,000 | $ 259,500 | $ 173,000 |
| Washburn, Wisconsin | 2 | $ 172,000 | $ 86,000 | $ 50,000 |
| Mohave, Arizona | 1 | $ 162,000 | $ 162,000 | $ 127,000 |
| Riverside, California | 1 | $ 1,070,000 | $ 1,070,000 | $ 1,840,000 |
| Collier, Florida | 1 | $ 1,000,000 | $ 1,000,000 | $ 458,000 |
| Manatee, Florida | 1 | $ 316,000 | $ 316,000 | $ 73,000 |
| Valley, Idaho | 1 | $ 200,000 | $ 200,000 | $ 86,000 |
| Beltrami, Minnesota | 1 | $ 116,000 | $ 116,000 | $ 148,000 |
| Chippewa, Minnesota | 1 | $ 177,000 | $ 177,000 | $ 92,000 |
| Clearwater, Minnesota | 1 | $ 44,000 | $ 44,000 | $ 95,000 |
| Cook, Minnesota | 1 | $ 62,000 | $ 62,000 | $ 30,000 |
| Douglas, Minnesota | 1 | $ 110,000 | $ 110,000 | $ 47,000 |
| Goodhue, Minnesota | 1 | $ 176,000 | $ 176,000 | $ 45,000 |
| Koochiching, Minnesota | 1 | $ 73,000 | $ 73,000 | $ 38,000 |
| Mahnomen, Minnesota | 1 | $ 55,000 | $ 55,000 | $ 232,000 |
| McLeod, Minnesota | 1 | $ 84,000 | $ 84,000 | $ 64,000 |
| Mower, Minnesota | 1 | $ 70,000 | $ 70,000 | $ 40,000 |
| Otter Tail, Minnesota | 1 | $ 245,000 | $ 245,000 | $ 96,000 |
| Roseau, Minnesota | 1 | $ 128,000 | $ 128,000 | $ 65,000 |
| Traverse, Minnesota | 1 | $ 156,000 | $ 156,000 | $ 54,000 |
| Wadena, Minnesota | 1 | $ 220,000 | $ 220,000 | $ 169,000 |
| Wilkin, Minnesota | 1 | $ 235,000 | $ 235,000 | $ 105,000 |
| Wright, Minnesota | 1 | $ 178,000 | $ 178,000 | $ 103,000 |
| Stone, Missouri | 1 | $ 40,000 | $ 40,000 | $ 101,000 |
| Dickey, North Dakota | 1 | $ 94,000 | $ 94,000 | $ 350,000 |
| Towner, North Dakota | 1 | $ 83,000 | $ 83,000 | $ 52,000 |
| Traill, North Dakota | 1 | $ 77,000 | $ 77,000 | $ 39,000 |
| Codington, South Dakota | 1 | $ 280,000 | $ 280,000 | $ 51,000 |
| Lincoln, South Dakota | 1 | $ 225,000 | $ 225,000 | $ 138,000 |
| Roberts, South Dakota | 1 | $ 300,000 | $ 300,000 | $ 130,000 |
| Collin, Texas | 1 | $ 248,000 | $ 248,000 | $ 152,000 |
| Ashland, Wisconsin | 1 | $ 276,000 | $ 276,000 | $ 245,000 |
| Barron, Wisconsin | 1 | $ 103,000 | $ 103,000 | $ 39,000 |
| Bayfield, Wisconsin | 1 | $ 60,000 | $ 60,000 | $ 29,000 |
| Chippewa, Wisconsin | 1 | $ 300,000 | $ 300,000 | $ 48,000 |
| Rock, Wisconsin | 1 | $ 180,000 | $ 180,000 | $ 118,000 |
| Waukesha, Wisconsin | 1 | $ 320,000 | $ 320,000 | $ 145,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2016
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 | 702 | $108,051,000 | $153,000 | $1,070,000 | $87,000 | $1,840,000 |
| Refinancing | 559 | $94,520,000 | $169,000 | $1,804,000 | $97,000 | $1,136,000 |
| Home Improvement | 142 | $17,338,000 | $122,000 | $413,000 | $90,000 | $528,000 |
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 | 1,234 | $189,495,000 | $153,000 | $1,070,000 | $93,000 | $1,840,000 |
| Not Provided | 95 | $17,432,000 | $183,000 | $575,000 | $119,000 | $516,000 |
| Not applicable | 50 | $9,462,000 | $189,000 | $1,804,000 | $4,000 | $244,000 |
| Hispanic | 13 | $1,537,000 | $118,000 | $196,000 | $65,000 | $101,000 |
| Asian | 9 | $1,672,000 | $185,000 | $319,000 | $91,000 | $175,000 |
| Black or African American | 1 | $230,000 | $230,000 | $230,000 | $64,000 | $64,000 |
| American Indian or Alaskan Native | 1 | $81,000 | $81,000 | $81,000 | $32,000 | $32,000 |
| Native Hawaiin 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) | 1,344 | $212,717,000 | $158,000 | $1,804,000 | $94,000 | $1,840,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 49 | $5,577,000 | $113,000 | $236,000 | $41,000 | $82,000 |
| VA-guaranteed (Veterans Administration) | 5 | $969,000 | $193,000 | $306,000 | $77,000 | $129,000 |
| FHA-insured (Federal Housing Administration) | 5 | $646,000 | $129,000 | $235,000 | $45,000 | $72,000 |
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 | 1,112 | $176,214,000 | $158,000 | $1,804,000 | $95,000 | $1,840,000 |
| Application Denied By Financial Institution | 132 | $18,977,000 | $143,000 | $980,000 | $71,000 | $385,000 |
| Application Withdrawn By Applicant | 102 | $16,405,000 | $160,000 | $417,000 | $86,000 | $516,000 |
| Application Approved But Not Accepted | 32 | $5,244,000 | $163,000 | $381,000 | $109,000 | $255,000 |
| Preapproval Denied by Financial Institution | 22 | $2,725,000 | $123,000 | $250,000 | $49,000 | $152,000 |
| File Closed For Incompleteness | 2 | $298,000 | $149,000 | $223,000 | $70,000 | $98,000 |
| Loan Purchased By The Institution | 1 | $46,000 | $46,000 | $46,000 | $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 | 71 | $8,511,000 | $119,000 | $575,000 | $63,000 | $297,000 |
| Debt-To-Income Ratio | 49 | $7,470,000 | $152,000 | $980,000 | $71,000 | $385,000 |
| Collateral | 20 | $3,568,000 | $178,000 | $400,000 | $87,000 | $373,000 |
| Employment History | 7 | $743,000 | $106,000 | $225,000 | $35,000 | $59,000 |
| Other | 3 | $665,000 | $221,000 | $296,000 | $53,000 | $88,000 |
| Unverifiable Information | 2 | $395,000 | $197,000 | $235,000 | $83,000 | $98,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $350,000 | $175,000 | $300,000 | $77,000 | $94,000 |
| 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 2016 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.
For a list of all lenders in Minnesota, download the full spreadsheet
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