Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2017
In 2017, Frandsen Bank & Trust of Lonsdale, MN reported 1,401 mortgage applications totaling $242.0 million, about the same as 2016. The average application was for $172,710, and applicants reported an average income of $94,980. 78% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (376), Duluth, MN-WI (245) and Grand Forks, ND-MN (145) (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 | 1,401 |
| Total Mortgage Loan Application Amount | $241,967,000 |
| Average Mortgage Loan Application Amount | $172,710 |
| Highest Mortgage Loan Application Amount | $5,340,000 |
| Average Applicant Income | $94,980 |
| Highest Applicant Income | $1,538,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 188 | $ 27,290,000 | $ 145,159 | $ 90,000 |
| Grand Forks, North Dakota | 86 | $ 14,376,000 | $ 167,162 | $ 74,000 |
| Scott, Minnesota | 74 | $ 16,720,000 | $ 225,945 | $ 107,000 |
| Rice, Minnesota | 69 | $ 12,639,000 | $ 183,173 | $ 85,000 |
| Crow Wing, Minnesota | 68 | $ 13,534,000 | $ 199,029 | $ 114,000 |
| Dakota, Minnesota | 66 | $ 13,589,000 | $ 205,893 | $ 104,000 |
| Le Sueur, Minnesota | 65 | $ 10,526,000 | $ 161,938 | $ 88,000 |
| Polk, Minnesota | 59 | $ 9,300,000 | $ 157,627 | $ 86,000 |
| Brown, Minnesota | 55 | $ 6,273,000 | $ 114,054 | $ 76,000 |
| Hennepin, Minnesota | 48 | $ 14,656,000 | $ 305,333 | $ 196,000 |
| Carlton, Minnesota | 47 | $ 6,912,000 | $ 147,063 | $ 89,000 |
| Blue Earth, Minnesota | 44 | $ 8,405,000 | $ 191,022 | $ 90,000 |
| Polk, Wisconsin | 40 | $ 5,015,000 | $ 125,375 | $ 70,000 |
| Nicollet, Minnesota | 30 | $ 5,302,000 | $ 176,733 | $ 97,000 |
| Norman, Minnesota | 27 | $ 2,372,000 | $ 87,851 | $ 57,000 |
| Benton, Minnesota | 22 | $ 2,210,000 | $ 100,454 | $ 64,000 |
| Cass, Minnesota | 22 | $ 4,093,000 | $ 186,045 | $ 112,000 |
| Chisago, Minnesota | 22 | $ 3,845,000 | $ 174,772 | $ 94,000 |
| Pine, Minnesota | 21 | $ 3,379,000 | $ 160,904 | $ 88,000 |
| Isanti, Minnesota | 20 | $ 2,800,000 | $ 140,000 | $ 80,000 |
| Marshall, Minnesota | 19 | $ 1,903,000 | $ 100,157 | $ 58,000 |
| Anoka, Minnesota | 18 | $ 3,614,000 | $ 200,777 | $ 132,000 |
| Big Stone, Minnesota | 16 | $ 1,728,000 | $ 108,000 | $ 95,000 |
| Burnett, Wisconsin | 14 | $ 2,432,000 | $ 173,714 | $ 119,000 |
| Carver, Minnesota | 13 | $ 3,206,000 | $ 246,615 | $ 87,000 |
| Washington, Minnesota | 13 | $ 3,220,000 | $ 247,692 | $ 94,000 |
| Kanabec, Minnesota | 12 | $ 996,000 | $ 83,000 | $ 59,000 |
| Ramsey, Minnesota | 12 | $ 2,323,000 | $ 193,583 | $ 136,000 |
| Lake, Minnesota | 10 | $ 2,167,000 | $ 216,700 | $ 129,000 |
| Mower, Minnesota | 10 | $ 1,718,000 | $ 171,800 | $ 80,000 |
| Sherburne, Minnesota | 10 | $ 1,725,000 | $ 172,500 | $ 91,000 |
| Douglas, Wisconsin | 10 | $ 2,059,000 | $ 205,900 | $ 67,000 |
| Morrison, Minnesota | 9 | $ 892,000 | $ 99,111 | $ 145,000 |
| Renville, Minnesota | 9 | $ 834,000 | $ 92,666 | $ 58,000 |
| Beltrami, Minnesota | 8 | $ 1,504,000 | $ 188,000 | $ 136,000 |
| Mille Lacs, Minnesota | 7 | $ 661,000 | $ 94,428 | $ 81,000 |
| Waseca, Minnesota | 7 | $ 929,000 | $ 132,714 | $ 89,000 |
| Maricopa, Arizona | 6 | $ 1,574,000 | $ 262,333 | $ 196,000 |
| Stearns, Minnesota | 6 | $ 744,000 | $ 124,000 | $ 60,000 |
| Aitkin, Minnesota | 5 | $ 876,000 | $ 175,200 | $ 110,000 |
| Goodhue, Minnesota | 5 | $ 610,000 | $ 122,000 | $ 51,000 |
| Pennington, Minnesota | 5 | $ 394,000 | $ 78,800 | $ 50,000 |
| Hubbard, Minnesota | 4 | $ 423,000 | $ 105,750 | $ 89,000 |
| Itasca, Minnesota | 4 | $ 573,000 | $ 143,250 | $ 121,000 |
| Steele, Minnesota | 4 | $ 703,000 | $ 175,750 | $ 95,000 |
| Becker, Minnesota | 3 | $ 702,000 | $ 234,000 | $ 189,000 |
| McLeod, Minnesota | 3 | $ 285,000 | $ 95,000 | $ 55,000 |
| Olmsted, Minnesota | 3 | $ 432,000 | $ 144,000 | $ 22,000 |
| Sibley, Minnesota | 3 | $ 380,000 | $ 126,666 | $ 57,000 |
| Todd, Minnesota | 3 | $ 633,000 | $ 211,000 | $ 157,000 |
| Wabasha, Minnesota | 3 | $ 483,000 | $ 161,000 | $ 89,000 |
| Pierce, Wisconsin | 3 | $ 515,000 | $ 171,666 | $ 75,000 |
| Riverside, California | 2 | $ 405,000 | $ 202,500 | $ 167,000 |
| Lee, Florida | 2 | $ 365,000 | $ 182,500 | $ 116,000 |
| Palm Beach, Florida | 2 | $ 667,000 | $ 333,500 | $ 124,000 |
| Cook, Illinois | 2 | $ 476,000 | $ 238,000 | $ 114,000 |
| Black Hawk, Iowa | 2 | $ 144,000 | $ 72,000 | $ 50,000 |
| Faribault, Minnesota | 2 | $ 171,000 | $ 85,500 | $ 41,000 |
| Freeborn, Minnesota | 2 | $ 242,000 | $ 121,000 | $ 63,000 |
| Lyon, Minnesota | 2 | $ 237,000 | $ 118,500 | $ 69,000 |
| Martin, Minnesota | 2 | $ 133,000 | $ 66,500 | $ 129,000 |
| Nelson, North Dakota | 2 | $ 125,000 | $ 62,500 | $ 28,000 |
| Walsh, North Dakota | 2 | $ 102,000 | $ 51,000 | $ 50,000 |
| Grant, South Dakota | 2 | $ 305,000 | $ 152,500 | $ 65,000 |
| Washburn, Wisconsin | 2 | $ 312,000 | $ 156,000 | $ 137,000 |
| Coconino, Arizona | 1 | $ 404,000 | $ 404,000 | $ 74,000 |
| Pinal, Arizona | 1 | $ 341,000 | $ 341,000 | $ 301,000 |
| Larimer, Colorado | 1 | $ 219,000 | $ 219,000 | $ 77,000 |
| Charlotte, Florida | 1 | $ 150,000 | $ 150,000 | $ 37,000 |
| Collier, Florida | 1 | $ 256,000 | $ 256,000 | $ 185,000 |
| Hillsborough, Florida | 1 | $ 825,000 | $ 825,000 | $ 167,000 |
| Pinellas, Florida | 1 | $ 138,000 | $ 138,000 | $ 123,000 |
| Porter, Indiana | 1 | $ 125,000 | $ 125,000 | $ 34,000 |
| Dallas, Iowa | 1 | $ 788,000 | $ 788,000 | $ 480,000 |
| Houghton, Michigan | 1 | $ 5,340,000 | $ 5,340,000 | $ 0 |
| Clay, Minnesota | 1 | $ 148,000 | $ 148,000 | $ 850,000 |
| Clearwater, Minnesota | 1 | $ 124,000 | $ 124,000 | $ 55,000 |
| Cook, Minnesota | 1 | $ 145,000 | $ 145,000 | $ 107,000 |
| Cottonwood, Minnesota | 1 | $ 114,000 | $ 114,000 | $ 36,000 |
| Douglas, Minnesota | 1 | $ 310,000 | $ 310,000 | $ 196,000 |
| Houston, Minnesota | 1 | $ 100,000 | $ 100,000 | $ 161,000 |
| Kandiyohi, Minnesota | 1 | $ 40,000 | $ 40,000 | $ 70,000 |
| Kittson, Minnesota | 1 | $ 110,000 | $ 110,000 | $ 55,000 |
| Lake of the Woods, Minnesota | 1 | $ 210,000 | $ 210,000 | $ 112,000 |
| Lincoln, Minnesota | 1 | $ 50,000 | $ 50,000 | $ 47,000 |
| Mahnomen, Minnesota | 1 | $ 160,000 | $ 160,000 | $ 104,000 |
| Nobles, Minnesota | 1 | $ 85,000 | $ 85,000 | $ 57,000 |
| Otter Tail, Minnesota | 1 | $ 200,000 | $ 200,000 | $ 263,000 |
| Redwood, Minnesota | 1 | $ 68,000 | $ 68,000 | $ 85,000 |
| Wright, Minnesota | 1 | $ 194,000 | $ 194,000 | $ 73,000 |
| Flathead, Montana | 1 | $ 288,000 | $ 288,000 | $ 94,000 |
| Benson, North Dakota | 1 | $ 182,000 | $ 182,000 | $ 49,000 |
| Burleigh, North Dakota | 1 | $ 35,000 | $ 35,000 | $ 82,000 |
| Stark, North Dakota | 1 | $ 300,000 | $ 300,000 | $ 94,000 |
| Towner, North Dakota | 1 | $ 81,000 | $ 81,000 | $ 57,000 |
| Traill, North Dakota | 1 | $ 128,000 | $ 128,000 | $ 76,000 |
| Lawrence, South Dakota | 1 | $ 154,000 | $ 154,000 | $ 66,000 |
| Minnehaha, South Dakota | 1 | $ 161,000 | $ 161,000 | $ 42,000 |
| Roberts, South Dakota | 1 | $ 264,000 | $ 264,000 | $ 107,000 |
| Hays, Texas | 1 | $ 184,000 | $ 184,000 | $ 100,000 |
| Bayfield, Wisconsin | 1 | $ 188,000 | $ 188,000 | $ 102,000 |
| Eau Claire, Wisconsin | 1 | $ 102,000 | $ 102,000 | $ 180,000 |
| St. Croix, Wisconsin | 1 | $ 340,000 | $ 340,000 | $ 97,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2017
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 | 837 | $147,991,000 | $176,000 | $5,340,000 | $96,000 | $1,538,000 |
| Refinancing | 420 | $77,483,000 | $184,000 | $1,410,000 | $95,000 | $939,000 |
| Home Improvement | 144 | $16,493,000 | $114,000 | $900,000 | $89,000 | $1,053,000 |
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 | 1,236 | $208,354,000 | $168,000 | $1,940,000 | $98,000 | $1,084,000 |
| Not Provided | 76 | $12,742,000 | $167,000 | $630,000 | $111,000 | $535,000 |
| Not applicable | 53 | $16,001,000 | $301,000 | $5,340,000 | $29,000 | $1,538,000 |
| Asian | 12 | $2,208,000 | $184,000 | $525,000 | $96,000 | $195,000 |
| Hispanic | 9 | $709,000 | $78,000 | $157,000 | $45,000 | $72,000 |
| American Indian or Alaskan Native | 7 | $513,000 | $73,000 | $121,000 | $37,000 | $72,000 |
| Black or African American | 6 | $830,000 | $138,000 | $280,000 | $71,000 | $178,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $610,000 | $305,000 | $380,000 | $177,000 | $184,000 |
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) | 1,329 | $233,173,000 | $175,000 | $5,340,000 | $97,000 | $1,538,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 53 | $6,212,000 | $117,000 | $301,000 | $47,000 | $96,000 |
| FHA-insured (Federal Housing Administration) | 12 | $1,796,000 | $149,000 | $312,000 | $68,000 | $174,000 |
| VA-guaranteed (Veterans Administration) | 7 | $786,000 | $112,000 | $190,000 | $49,000 | $100,000 |
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 | 1,095 | $191,451,000 | $174,000 | $5,340,000 | $99,000 | $1,538,000 |
| Application Withdrawn By Applicant | 140 | $26,827,000 | $191,000 | $1,000,000 | $99,000 | $535,000 |
| Application Denied By Financial Institution | 125 | $16,791,000 | $134,000 | $420,000 | $62,000 | $257,000 |
| Application Approved But Not Accepted | 31 | $5,648,000 | $182,000 | $404,000 | $93,000 | $260,000 |
| Preapproval Denied by Financial Institution | 7 | $758,000 | $108,000 | $175,000 | $50,000 | $96,000 |
| File Closed For Incompleteness | 3 | $492,000 | $164,000 | $340,000 | $94,000 | $152,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $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 | 72 | $8,627,000 | $119,000 | $420,000 | $61,000 | $257,000 |
| Debt-To-Income Ratio | 34 | $5,169,000 | $152,000 | $375,000 | $61,000 | $127,000 |
| Collateral | 11 | $1,609,000 | $146,000 | $384,000 | $59,000 | $122,000 |
| Other | 9 | $1,047,000 | $116,000 | $220,000 | $73,000 | $101,000 |
| Employment History | 3 | $563,000 | $187,000 | $243,000 | $29,000 | $68,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $514,000 | $257,000 | $264,000 | $102,000 | $114,000 |
| Credit Application Incomplete | 1 | $20,000 | $20,000 | $20,000 | $72,000 | $72,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Frandsen Bank & Trust's 2017 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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