Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2019
In 2019, Frandsen Bank & Trust of Lonsdale, MN reported 1,422 mortgage applications totaling $254.8 million, up 18% from 2018. The average application was for $179,212, and applicants reported an average income of $102,759. 80% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (302), Duluth, MN-WI (258) 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 | 1,422 |
| Total Mortgage Loan Application Amount | $254,840,000 |
| Average Mortgage Loan Application Amount | $179,212 |
| Highest Mortgage Loan Application Amount | $865,000 |
| Average Applicant Income | $102,759 |
| Highest Applicant Income | $1,126,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 185 | $ 28,095,000 | $ 151,864 | $ 94,000 |
| Crow Wing, Minnesota | 97 | $ 20,485,000 | $ 211,185 | $ 133,000 |
| Grand Forks, North Dakota | 76 | $ 11,010,000 | $ 144,868 | $ 80,000 |
| Polk, Minnesota | 69 | $ 10,985,000 | $ 159,202 | $ 93,000 |
| Rice, Minnesota | 62 | $ 11,430,000 | $ 184,354 | $ 88,000 |
| Brown, Minnesota | 59 | $ 7,325,000 | $ 124,152 | $ 89,000 |
| Polk, Wisconsin | 54 | $ 6,180,000 | $ 114,444 | $ 68,000 |
| Blue Earth, Minnesota | 50 | $ 10,240,000 | $ 204,800 | $ 106,000 |
| Carlton, Minnesota | 49 | $ 8,345,000 | $ 170,306 | $ 119,000 |
| Dakota, Minnesota | 46 | $ 12,830,000 | $ 278,913 | $ 138,000 |
| Le Sueur, Minnesota | 46 | $ 7,800,000 | $ 169,565 | $ 82,000 |
| Nicollet, Minnesota | 43 | $ 9,085,000 | $ 211,279 | $ 114,000 |
| Isanti, Minnesota | 40 | $ 6,100,000 | $ 152,500 | $ 89,000 |
| Hennepin, Minnesota | 38 | $ 12,970,000 | $ 341,315 | $ 164,000 |
| Scott, Minnesota | 37 | $ 9,345,000 | $ 252,567 | $ 96,000 |
| Pine, Minnesota | 34 | $ 6,040,000 | $ 177,647 | $ 77,000 |
| Chisago, Minnesota | 28 | $ 5,570,000 | $ 198,928 | $ 103,000 |
| Marshall, Minnesota | 28 | $ 2,660,000 | $ 95,000 | $ 79,000 |
| Renville, Minnesota | 25 | $ 2,575,000 | $ 103,000 | $ 91,000 |
| Cass, Minnesota | 24 | $ 6,120,000 | $ 255,000 | $ 110,000 |
| Norman, Minnesota | 20 | $ 2,060,000 | $ 103,000 | $ 70,000 |
| Benton, Minnesota | 19 | $ 3,025,000 | $ 159,210 | $ 101,000 |
| Big Stone, Minnesota | 19 | $ 2,325,000 | $ 122,368 | $ 70,000 |
| Kanabec, Minnesota | 17 | $ 1,935,000 | $ 113,823 | $ 69,000 |
| Ramsey, Minnesota | 16 | $ 4,330,000 | $ 270,625 | $ 143,000 |
| Waseca, Minnesota | 14 | $ 1,550,000 | $ 110,714 | $ 51,000 |
| Anoka, Minnesota | 13 | $ 3,125,000 | $ 240,384 | $ 126,000 |
| Washington, Minnesota | 13 | $ 3,595,000 | $ 276,538 | $ 202,000 |
| Douglas, Wisconsin | 13 | $ 2,375,000 | $ 182,692 | $ 168,000 |
| Lake, Minnesota | 11 | $ 1,245,000 | $ 113,181 | $ 213,000 |
| Carver, Minnesota | 8 | $ 2,270,000 | $ 283,750 | $ 138,000 |
| Burnett, Wisconsin | 8 | $ 1,180,000 | $ 147,500 | $ 83,000 |
| Itasca, Minnesota | 7 | $ 675,000 | $ 96,428 | $ 89,000 |
| Mower, Minnesota | 7 | $ 1,425,000 | $ 203,571 | $ 91,000 |
| Aitkin, Minnesota | 6 | $ 1,540,000 | $ 256,666 | $ 148,000 |
| Hubbard, Minnesota | 6 | $ 870,000 | $ 145,000 | $ 141,000 |
| McLeod, Minnesota | 6 | $ 1,350,000 | $ 225,000 | $ 98,000 |
| Morrison, Minnesota | 6 | $ 750,000 | $ 125,000 | $ 48,000 |
| Sherburne, Minnesota | 5 | $ 1,145,000 | $ 229,000 | $ 132,000 |
| Sibley, Minnesota | 5 | $ 675,000 | $ 135,000 | $ 67,000 |
| Stearns, Minnesota | 5 | $ 595,000 | $ 119,000 | $ 94,000 |
| Becker, Minnesota | 4 | $ 1,350,000 | $ 337,500 | $ 132,000 |
| Mille Lacs, Minnesota | 4 | $ 900,000 | $ 225,000 | $ 56,000 |
| Steele, Minnesota | 4 | $ 1,080,000 | $ 270,000 | $ 137,000 |
| Wright, Minnesota | 4 | $ 820,000 | $ 205,000 | $ 81,000 |
| Cass, North Dakota | 4 | $ 1,190,000 | $ 297,500 | $ 103,000 |
| Sawyer, Wisconsin | 4 | $ 780,000 | $ 195,000 | $ 207,000 |
| Lee, Florida | 3 | $ 515,000 | $ 171,666 | $ 143,000 |
| Faribault, Minnesota | 3 | $ 375,000 | $ 125,000 | $ 99,000 |
| Kittson, Minnesota | 3 | $ 215,000 | $ 71,666 | $ 108,000 |
| Mahnomen, Minnesota | 3 | $ 595,000 | $ 198,333 | $ 225,000 |
| Todd, Minnesota | 3 | $ 675,000 | $ 225,000 | $ 74,000 |
| Barron, Wisconsin | 3 | $ 425,000 | $ 141,666 | $ 32,000 |
| St. Croix, Wisconsin | 3 | $ 475,000 | $ 158,333 | $ 102,000 |
| Maricopa, Arizona | 2 | $ 280,000 | $ 140,000 | $ 102,000 |
| Pinal, Arizona | 2 | $ 540,000 | $ 270,000 | $ 154,000 |
| Collier, Florida | 2 | $ 660,000 | $ 330,000 | $ 326,000 |
| Cook, Minnesota | 2 | $ 600,000 | $ 300,000 | $ 148,000 |
| Freeborn, Minnesota | 2 | $ 550,000 | $ 275,000 | $ 107,000 |
| Goodhue, Minnesota | 2 | $ 240,000 | $ 120,000 | $ 130,000 |
| Koochiching, Minnesota | 2 | $ 300,000 | $ 150,000 | $ 180,000 |
| Lyon, Minnesota | 2 | $ 160,000 | $ 80,000 | $ 25,000 |
| Meeker, Minnesota | 2 | $ 420,000 | $ 210,000 | $ 90,000 |
| Olmsted, Minnesota | 2 | $ 350,000 | $ 175,000 | $ 168,000 |
| Otter Tail, Minnesota | 2 | $ 650,000 | $ 325,000 | $ 103,000 |
| Pennington, Minnesota | 2 | $ 200,000 | $ 100,000 | $ 45,000 |
| Roseau, Minnesota | 2 | $ 100,000 | $ 50,000 | $ 107,000 |
| Traill, North Dakota | 2 | $ 330,000 | $ 165,000 | $ 89,000 |
| Walsh, North Dakota | 2 | $ 270,000 | $ 135,000 | $ 61,000 |
| Washburn, Wisconsin | 2 | $ 420,000 | $ 210,000 | $ 169,000 |
| Mohave, Arizona | 1 | $ 315,000 | $ 315,000 | $ 124,000 |
| Mesa, Colorado | 1 | $ 155,000 | $ 155,000 | $ 139,000 |
| Weld, Colorado | 1 | $ 225,000 | $ 225,000 | $ 96,000 |
| Brevard, Florida | 1 | $ 115,000 | $ 115,000 | $ 134,000 |
| Manatee, Florida | 1 | $ 315,000 | $ 315,000 | $ 112,000 |
| Pinellas, Florida | 1 | $ 245,000 | $ 245,000 | $ 182,000 |
| Sumter, Florida | 1 | $ 195,000 | $ 195,000 | $ 88,000 |
| Dickinson, Iowa | 1 | $ 145,000 | $ 145,000 | $ 126,000 |
| Polk, Iowa | 1 | $ 235,000 | $ 235,000 | $ 57,000 |
| Beltrami, Minnesota | 1 | $ 55,000 | $ 55,000 | $ 44,000 |
| Clay, Minnesota | 1 | $ 285,000 | $ 285,000 | $ 115,000 |
| Clearwater, Minnesota | 1 | $ 85,000 | $ 85,000 | $ 132,000 |
| Douglas, Minnesota | 1 | $ 155,000 | $ 155,000 | $ 117,000 |
| Kandiyohi, Minnesota | 1 | $ 365,000 | $ 365,000 | $ 97,000 |
| Lake of the Woods, Minnesota | 1 | $ 55,000 | $ 55,000 | $ 88,000 |
| Lincoln, Minnesota | 1 | $ 75,000 | $ 75,000 | $ 47,000 |
| Martin, Minnesota | 1 | $ 495,000 | $ 495,000 | $ 0 |
| Nobles, Minnesota | 1 | $ 275,000 | $ 275,000 | $ 650,000 |
| Pope, Minnesota | 1 | $ 175,000 | $ 175,000 | $ 119,000 |
| Red Lake, Minnesota | 1 | $ 205,000 | $ 205,000 | $ 57,000 |
| Redwood, Minnesota | 1 | $ 65,000 | $ 65,000 | $ 60,000 |
| Stevens, Minnesota | 1 | $ 75,000 | $ 75,000 | $ 47,000 |
| Swift, Minnesota | 1 | $ 55,000 | $ 55,000 | $ 44,000 |
| Watonwan, Minnesota | 1 | $ 75,000 | $ 75,000 | $ 19,000 |
| Codington, South Dakota | 1 | $ 215,000 | $ 215,000 | $ 95,000 |
| Custer, South Dakota | 1 | $ 235,000 | $ 235,000 | $ 63,000 |
| Roberts, South Dakota | 1 | $ 215,000 | $ 215,000 | $ 66,000 |
| Clark, Wisconsin | 1 | $ 45,000 | $ 45,000 | $ 92,000 |
| Pierce, Wisconsin | 1 | $ 185,000 | $ 185,000 | $ 87,000 |
| Waukesha, Wisconsin | 1 | $ 485,000 | $ 485,000 | $ 144,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2019
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 | 792 | $147,660,000 | $186,000 | $865,000 | $105,000 | $1,126,000 |
| Refinancing | 301 | $58,225,000 | $193,000 | $705,000 | $111,000 | $543,000 |
| Cash-out Refinancing | 222 | $41,390,000 | $186,000 | $485,000 | $91,000 | $380,000 |
| Home Improvement | 54 | $3,240,000 | $60,000 | $255,000 | $74,000 | $154,000 |
| Other Purpose | 52 | $4,270,000 | $82,000 | $345,000 | $101,000 | $396,000 |
| Not Applicable | 1 | $55,000 | $55,000 | $55,000 | $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 | 1,268 | $227,570,000 | $179,000 | $865,000 | $101,000 | $1,126,000 |
| Not applicable | 65 | $10,035,000 | $154,000 | $705,000 | $0 | $0 |
| Not Provided | 63 | $12,705,000 | $201,000 | $725,000 | $146,000 | $650,000 |
| Hispanic | 9 | $1,405,000 | $156,000 | $355,000 | $70,000 | $231,000 |
| Asian | 8 | $2,040,000 | $255,000 | $625,000 | $127,000 | $420,000 |
| American Indian or Alaskan Native | 5 | $365,000 | $73,000 | $175,000 | $59,000 | $90,000 |
| Black or African American | 2 | $480,000 | $240,000 | $425,000 | $75,000 | $109,000 |
| 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) | 1,368 | $247,470,000 | $180,000 | $865,000 | $105,000 | $1,126,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 46 | $5,440,000 | $118,000 | $305,000 | $46,000 | $109,000 |
| VA-guaranteed (Veterans Administration) | 7 | $1,895,000 | $270,000 | $465,000 | $75,000 | $110,000 |
| FHA-insured (Federal Housing Administration) | 1 | $35,000 | $35,000 | $35,000 | $37,000 | $37,000 |
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 | 1,133 | $205,895,000 | $181,000 | $865,000 | $107,000 | $1,126,000 |
| Application Withdrawn By Applicant | 192 | $37,110,000 | $193,000 | $755,000 | $101,000 | $500,000 |
| Application Denied By Financial Institution | 84 | $9,790,000 | $116,000 | $345,000 | $56,000 | $470,000 |
| Application Approved But Not Accepted | 8 | $1,430,000 | $178,000 | $405,000 | $127,000 | $375,000 |
| File Closed For Incompleteness | 3 | $465,000 | $155,000 | $275,000 | $89,000 | $183,000 |
| Loan Purchased By The Institution | 1 | $55,000 | $55,000 | $55,000 | $0 | $0 |
| Preapproval Approved but not Accepted | 1 | $95,000 | $95,000 | $95,000 | $66,000 | $66,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 1,338 | $245,050,000 | $183,000 | $865,000 | $106,000 | $1,126,000 |
| Credit History | 34 | $3,720,000 | $109,000 | $255,000 | $62,000 | $310,000 |
| Debt-To-Income Ratio | 30 | $3,900,000 | $130,000 | $345,000 | $45,000 | $120,000 |
| Collateral | 6 | $330,000 | $55,000 | $75,000 | $37,000 | $56,000 |
| Other | 5 | $775,000 | $155,000 | $305,000 | $62,000 | $87,000 |
| Employment History | 5 | $575,000 | $115,000 | $145,000 | $28,000 | $50,000 |
| Unverifiable Information | 3 | $215,000 | $71,000 | $105,000 | $54,000 | $96,000 |
| Credit Application Incomplete | 1 | $275,000 | $275,000 | $275,000 | $470,000 | $470,000 |
| 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 Frandsen Bank & Trust's 2019 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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