Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2020
In 2020, Frandsen Bank & Trust of Lonsdale, MN reported 2,700 mortgage applications totaling $566.4 million, up 90% from 2019. The average application was for $209,759, and applicants reported an average income of $117,455. 84% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (714), Duluth, MN-WI (514) and Grand Forks, ND-MN (230) (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 | 2,700 |
| Total Mortgage Loan Application Amount | $566,350,000 |
| Average Mortgage Loan Application Amount | $209,759 |
| Highest Mortgage Loan Application Amount | $4,505,000 |
| Average Applicant Income | $117,455 |
| Highest Applicant Income | $2,036,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 377 | $ 71,935,000 | $ 190,809 | $ 105,000 |
| Crow Wing, Minnesota | 143 | $ 31,865,000 | $ 222,832 | $ 147,000 |
| Rice, Minnesota | 121 | $ 26,325,000 | $ 217,561 | $ 97,000 |
| Le Sueur, Minnesota | 116 | $ 24,410,000 | $ 210,431 | $ 100,000 |
| Grand Forks, North Dakota | 116 | $ 21,330,000 | $ 183,879 | $ 105,000 |
| Polk, Minnesota | 114 | $ 20,370,000 | $ 178,684 | $ 97,000 |
| Brown, Minnesota | 104 | $ 15,680,000 | $ 150,769 | $ 86,000 |
| Dakota, Minnesota | 103 | $ 28,265,000 | $ 274,417 | $ 154,000 |
| Blue Earth, Minnesota | 99 | $ 20,455,000 | $ 206,616 | $ 103,000 |
| Hennepin, Minnesota | 97 | $ 28,015,000 | $ 288,814 | $ 186,000 |
| Scott, Minnesota | 96 | $ 25,980,000 | $ 270,625 | $ 135,000 |
| Polk, Wisconsin | 95 | $ 13,765,000 | $ 144,894 | $ 92,000 |
| Carlton, Minnesota | 84 | $ 18,320,000 | $ 218,095 | $ 98,000 |
| Pine, Minnesota | 80 | $ 14,300,000 | $ 178,750 | $ 110,000 |
| Nicollet, Minnesota | 78 | $ 18,660,000 | $ 239,230 | $ 112,000 |
| Chisago, Minnesota | 55 | $ 11,775,000 | $ 214,090 | $ 107,000 |
| Isanti, Minnesota | 55 | $ 10,435,000 | $ 189,727 | $ 93,000 |
| Anoka, Minnesota | 43 | $ 10,825,000 | $ 251,744 | $ 122,000 |
| Renville, Minnesota | 41 | $ 4,075,000 | $ 99,390 | $ 70,000 |
| Ramsey, Minnesota | 40 | $ 9,740,000 | $ 243,500 | $ 149,000 |
| Washington, Minnesota | 36 | $ 9,990,000 | $ 277,500 | $ 158,000 |
| Cass, Minnesota | 33 | $ 8,665,000 | $ 262,575 | $ 128,000 |
| Norman, Minnesota | 31 | $ 3,815,000 | $ 123,064 | $ 69,000 |
| Kanabec, Minnesota | 29 | $ 5,295,000 | $ 182,586 | $ 80,000 |
| Lake, Minnesota | 28 | $ 6,740,000 | $ 240,714 | $ 196,000 |
| Benton, Minnesota | 27 | $ 4,885,000 | $ 180,925 | $ 114,000 |
| Burnett, Wisconsin | 27 | $ 4,425,000 | $ 163,888 | $ 106,000 |
| Douglas, Wisconsin | 25 | $ 3,995,000 | $ 159,800 | $ 105,000 |
| Sawyer, Wisconsin | 25 | $ 5,335,000 | $ 213,400 | $ 109,000 |
| Big Stone, Minnesota | 20 | $ 2,330,000 | $ 116,500 | $ 91,000 |
| Carver, Minnesota | 20 | $ 6,140,000 | $ 307,000 | $ 144,000 |
| Sherburne, Minnesota | 17 | $ 4,275,000 | $ 251,470 | $ 145,000 |
| Mille Lacs, Minnesota | 16 | $ 2,870,000 | $ 179,375 | $ 84,000 |
| Stearns, Minnesota | 16 | $ 3,180,000 | $ 198,750 | $ 119,000 |
| Marshall, Minnesota | 15 | $ 1,805,000 | $ 120,333 | $ 90,000 |
| Aitkin, Minnesota | 13 | $ 2,715,000 | $ 208,846 | $ 134,000 |
| Eau Claire, Wisconsin | 13 | $ 3,635,000 | $ 279,615 | $ 175,000 |
| Itasca, Minnesota | 12 | $ 3,790,000 | $ 315,833 | $ 149,000 |
| Morrison, Minnesota | 11 | $ 1,825,000 | $ 165,909 | $ 120,000 |
| Wright, Minnesota | 11 | $ 2,585,000 | $ 235,000 | $ 108,000 |
| Hubbard, Minnesota | 10 | $ 2,090,000 | $ 209,000 | $ 135,000 |
| Sibley, Minnesota | 10 | $ 1,750,000 | $ 175,000 | $ 75,000 |
| Maricopa, Arizona | 9 | $ 3,055,000 | $ 339,444 | $ 382,000 |
| Cass, North Dakota | 8 | $ 1,720,000 | $ 215,000 | $ 312,000 |
| Clay, Minnesota | 7 | $ 1,155,000 | $ 165,000 | $ 107,000 |
| Todd, Minnesota | 7 | $ 925,000 | $ 132,142 | $ 69,000 |
| Beltrami, Minnesota | 6 | $ 1,210,000 | $ 201,666 | $ 125,000 |
| Kandiyohi, Minnesota | 6 | $ 1,240,000 | $ 206,666 | $ 58,000 |
| McLeod, Minnesota | 6 | $ 2,280,000 | $ 380,000 | $ 69,000 |
| Otter Tail, Minnesota | 6 | $ 1,030,000 | $ 171,666 | $ 121,000 |
| St. Croix, Wisconsin | 6 | $ 1,510,000 | $ 251,666 | $ 149,000 |
| Mohave, Arizona | 5 | $ 1,095,000 | $ 219,000 | $ 143,000 |
| Pinal, Arizona | 5 | $ 1,145,000 | $ 229,000 | $ 174,000 |
| Becker, Minnesota | 5 | $ 1,495,000 | $ 299,000 | $ 129,000 |
| Douglas, Minnesota | 5 | $ 1,035,000 | $ 207,000 | $ 145,000 |
| Goodhue, Minnesota | 5 | $ 1,075,000 | $ 215,000 | $ 102,000 |
| Collier, Florida | 4 | $ 1,420,000 | $ 355,000 | $ 321,000 |
| Faribault, Minnesota | 4 | $ 810,000 | $ 202,500 | $ 73,000 |
| Olmsted, Minnesota | 4 | $ 770,000 | $ 192,500 | $ 217,000 |
| Pennington, Minnesota | 4 | $ 660,000 | $ 165,000 | $ 70,000 |
| Waseca, Minnesota | 4 | $ 840,000 | $ 210,000 | $ 64,000 |
| Barron, Wisconsin | 4 | $ 540,000 | $ 135,000 | $ 75,000 |
| Bayfield, Wisconsin | 4 | $ 740,000 | $ 185,000 | $ 96,000 |
| Washburn, Wisconsin | 4 | $ 740,000 | $ 185,000 | $ 124,000 |
| Lee, Florida | 3 | $ 905,000 | $ 301,666 | $ 179,000 |
| Kittson, Minnesota | 3 | $ 345,000 | $ 115,000 | $ 74,000 |
| Mahnomen, Minnesota | 3 | $ 555,000 | $ 185,000 | $ 223,000 |
| Martin, Minnesota | 3 | $ 975,000 | $ 325,000 | $ 106,000 |
| Meeker, Minnesota | 3 | $ 355,000 | $ 118,333 | $ 71,000 |
| Steele, Minnesota | 3 | $ 405,000 | $ 135,000 | $ 84,000 |
| Pierce, Wisconsin | 3 | $ 635,000 | $ 211,666 | $ 103,000 |
| Indian River, Florida | 2 | $ 1,250,000 | $ 625,000 | $ 1,365,000 |
| Houghton, Michigan | 2 | $ 4,590,000 | $ 2,295,000 | $ 38,000 |
| Cook, Minnesota | 2 | $ 490,000 | $ 245,000 | $ 197,000 |
| Lyon, Minnesota | 2 | $ 440,000 | $ 220,000 | $ 259,000 |
| Roseau, Minnesota | 2 | $ 310,000 | $ 155,000 | $ 133,000 |
| Walsh, North Dakota | 2 | $ 270,000 | $ 135,000 | $ 72,000 |
| Grant, South Dakota | 2 | $ 530,000 | $ 265,000 | $ 78,000 |
| Roberts, South Dakota | 2 | $ 260,000 | $ 130,000 | $ 166,000 |
| Alameda, California | 1 | $ 455,000 | $ 455,000 | $ 258,000 |
| Jefferson, Colorado | 1 | $ 305,000 | $ 305,000 | $ 151,000 |
| Weld, Colorado | 1 | $ 285,000 | $ 285,000 | $ 126,000 |
| Charlotte, Florida | 1 | $ 275,000 | $ 275,000 | $ 275,000 |
| Escambia, Florida | 1 | $ 285,000 | $ 285,000 | $ 0 |
| Marion, Florida | 1 | $ 145,000 | $ 145,000 | $ 53,000 |
| Polk, Florida | 1 | $ 185,000 | $ 185,000 | $ 77,000 |
| Sarasota, Florida | 1 | $ 155,000 | $ 155,000 | $ 86,000 |
| Dickinson, Iowa | 1 | $ 235,000 | $ 235,000 | $ 198,000 |
| Linn, Iowa | 1 | $ 65,000 | $ 65,000 | $ 42,000 |
| Clearwater, Minnesota | 1 | $ 135,000 | $ 135,000 | $ 80,000 |
| Freeborn, Minnesota | 1 | $ 205,000 | $ 205,000 | $ 240,000 |
| Koochiching, Minnesota | 1 | $ 55,000 | $ 55,000 | $ 34,000 |
| Lac qui Parle, Minnesota | 1 | $ 215,000 | $ 215,000 | $ 140,000 |
| Lake of the Woods, Minnesota | 1 | $ 195,000 | $ 195,000 | $ 96,000 |
| Murray, Minnesota | 1 | $ 75,000 | $ 75,000 | $ 200,000 |
| Red Lake, Minnesota | 1 | $ 205,000 | $ 205,000 | $ 56,000 |
| Redwood, Minnesota | 1 | $ 155,000 | $ 155,000 | $ 90,000 |
| Traverse, Minnesota | 1 | $ 355,000 | $ 355,000 | $ 203,000 |
| Wabasha, Minnesota | 1 | $ 135,000 | $ 135,000 | $ 127,000 |
| Wadena, Minnesota | 1 | $ 265,000 | $ 265,000 | $ 83,000 |
| Wilkin, Minnesota | 1 | $ 225,000 | $ 225,000 | $ 74,000 |
| Winona, Minnesota | 1 | $ 65,000 | $ 65,000 | $ 77,000 |
| Nelson, North Dakota | 1 | $ 65,000 | $ 65,000 | $ 90,000 |
| Traill, North Dakota | 1 | $ 165,000 | $ 165,000 | $ 82,000 |
| Deuel, South Dakota | 1 | $ 365,000 | $ 365,000 | $ 180,000 |
| Kingsbury, South Dakota | 1 | $ 75,000 | $ 75,000 | $ 93,000 |
| Marshall, South Dakota | 1 | $ 115,000 | $ 115,000 | $ 77,000 |
| Adams, Wisconsin | 1 | $ 305,000 | $ 305,000 | $ 95,000 |
| Ashland, Wisconsin | 1 | $ 145,000 | $ 145,000 | $ 160,000 |
| Buffalo, Wisconsin | 1 | $ 135,000 | $ 135,000 | $ 70,000 |
| Chippewa, Wisconsin | 1 | $ 155,000 | $ 155,000 | $ 55,000 |
| Columbia, Wisconsin | 1 | $ 215,000 | $ 215,000 | $ 55,000 |
| Dunn, Wisconsin | 1 | $ 145,000 | $ 145,000 | $ 80,000 |
| Forest, Wisconsin | 1 | $ 405,000 | $ 405,000 | $ 161,000 |
| Iron, Wisconsin | 1 | $ 35,000 | $ 35,000 | $ 48,000 |
| La Crosse, Wisconsin | 1 | $ 215,000 | $ 215,000 | $ 45,000 |
| Milwaukee, Wisconsin | 1 | $ 185,000 | $ 185,000 | $ 215,000 |
| Oneida, Wisconsin | 1 | $ 425,000 | $ 425,000 | $ 380,000 |
| Rock, Wisconsin | 1 | $ 135,000 | $ 135,000 | $ 113,000 |
| Rusk, Wisconsin | 1 | $ 195,000 | $ 195,000 | $ 68,000 |
| Walworth, Wisconsin | 1 | $ 245,000 | $ 245,000 | $ 67,000 |
| Waukesha, Wisconsin | 1 | $ 485,000 | $ 485,000 | $ 147,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2020
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 | 1,219 | $265,485,000 | $217,000 | $4,505,000 | $123,000 | $1,632,000 |
| Home Purchase | 838 | $173,680,000 | $207,000 | $955,000 | $114,000 | $1,037,000 |
| Cash-out Refinancing | 562 | $116,370,000 | $207,000 | $515,000 | $107,000 | $660,000 |
| Other Purpose | 52 | $7,560,000 | $145,000 | $805,000 | $133,000 | $2,036,000 |
| Home Improvement | 29 | $3,255,000 | $112,000 | $565,000 | $159,000 | $1,037,000 |
| Not Applicable | 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 | 2,445 | $500,845,000 | $204,000 | $1,105,000 | $115,000 | $2,036,000 |
| Not Provided | 144 | $32,780,000 | $227,000 | $715,000 | $130,000 | $1,020,000 |
| Not applicable | 59 | $23,205,000 | $393,000 | $4,505,000 | $0 | $0 |
| Hispanic | 23 | $3,465,000 | $150,000 | $375,000 | $164,000 | $777,000 |
| Asian | 13 | $2,745,000 | $211,000 | $425,000 | $163,000 | $438,000 |
| American Indian or Alaskan Native | 8 | $1,840,000 | $230,000 | $445,000 | $89,000 | $152,000 |
| Black or African American | 4 | $690,000 | $172,000 | $225,000 | $81,000 | $130,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $385,000 | $385,000 | $385,000 | $306,000 | $306,000 |
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) | 2,664 | $560,150,000 | $210,000 | $4,505,000 | $118,000 | $2,036,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 29 | $4,345,000 | $149,000 | $275,000 | $49,000 | $89,000 |
| VA-guaranteed (Veterans Administration) | 6 | $1,590,000 | $265,000 | $395,000 | $124,000 | $308,000 |
| FHA-insured (Federal Housing Administration) | 1 | $265,000 | $265,000 | $265,000 | $70,000 | $70,000 |
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 | 2,262 | $479,220,000 | $211,000 | $4,505,000 | $120,000 | $2,036,000 |
| Application Withdrawn By Applicant | 309 | $64,015,000 | $207,000 | $525,000 | $116,000 | $1,632,000 |
| Application Denied By Financial Institution | 107 | $19,385,000 | $181,000 | $515,000 | $83,000 | $363,000 |
| File Closed For Incompleteness | 11 | $1,905,000 | $173,000 | $265,000 | $84,000 | $183,000 |
| Application Approved But Not Accepted | 10 | $1,670,000 | $167,000 | $445,000 | $94,000 | $169,000 |
| Loan Purchased By The Institution | 1 | $155,000 | $155,000 | $155,000 | $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 |
|---|---|---|---|---|---|---|
| Not applicable | 2,593 | $546,965,000 | $210,000 | $4,505,000 | $119,000 | $2,036,000 |
| Debt-To-Income Ratio | 41 | $7,945,000 | $193,000 | $515,000 | $57,000 | $222,000 |
| Credit History | 34 | $4,520,000 | $132,000 | $385,000 | $74,000 | $187,000 |
| Collateral | 15 | $3,075,000 | $205,000 | $515,000 | $117,000 | $231,000 |
| Other | 13 | $3,275,000 | $251,000 | $415,000 | $157,000 | $363,000 |
| Employment History | 3 | $445,000 | $148,000 | $195,000 | $50,000 | $57,000 |
| Unverifiable Information | 1 | $125,000 | $125,000 | $125,000 | $46,000 | $46,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 2020 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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