Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2022
In 2022, Frandsen Bank & Trust of Lonsdale, MN reported 1,577 mortgage applications totaling $341.9 million, down 37% from 2021. The average application was for $216,781, and applicants reported an average income of $146,610. 83% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Duluth, MN-WI (409), Minneapolis-St. Paul-Bloomington, MN-WI (338) and Grand Forks, ND-MN (93) (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 | 1,577 |
| Total Mortgage Loan Application Amount | $341,865,000 |
| Average Mortgage Loan Application Amount | $216,781 |
| Highest Mortgage Loan Application Amount | $3,105,000 |
| Average Applicant Income | $146,610 |
| Highest Applicant Income | $3,630,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 274 | $ 58,400,000 | $ 213,138 | $ 165,000 |
| Carlton, Minnesota | 96 | $ 20,660,000 | $ 215,208 | $ 138,000 |
| Rice, Minnesota | 63 | $ 13,055,000 | $ 207,222 | $ 104,000 |
| Crow Wing, Minnesota | 60 | $ 17,280,000 | $ 288,000 | $ 174,000 |
| Hennepin, Minnesota | 57 | $ 26,935,000 | $ 472,543 | $ 227,000 |
| Le Sueur, Minnesota | 55 | $ 8,725,000 | $ 158,636 | $ 82,000 |
| Brown, Minnesota | 51 | $ 7,215,000 | $ 141,470 | $ 119,000 |
| Scott, Minnesota | 50 | $ 12,340,000 | $ 246,800 | $ 151,000 |
| Pine, Minnesota | 49 | $ 8,275,000 | $ 168,877 | $ 148,000 |
| Grand Forks, North Dakota | 48 | $ 7,560,000 | $ 157,500 | $ 96,000 |
| Polk, Wisconsin | 46 | $ 6,200,000 | $ 134,782 | $ 106,000 |
| Polk, Minnesota | 45 | $ 6,445,000 | $ 143,222 | $ 103,000 |
| Nicollet, Minnesota | 44 | $ 8,130,000 | $ 184,772 | $ 126,000 |
| Blue Earth, Minnesota | 43 | $ 9,155,000 | $ 212,906 | $ 141,000 |
| Sawyer, Wisconsin | 35 | $ 5,045,000 | $ 144,142 | $ 113,000 |
| Isanti, Minnesota | 33 | $ 5,775,000 | $ 175,000 | $ 101,000 |
| Eau Claire, Wisconsin | 33 | $ 10,235,000 | $ 310,151 | $ 202,000 |
| Ramsey, Minnesota | 30 | $ 11,110,000 | $ 370,333 | $ 336,000 |
| Dakota, Minnesota | 28 | $ 6,650,000 | $ 237,500 | $ 157,000 |
| Chisago, Minnesota | 26 | $ 7,560,000 | $ 290,769 | $ 151,000 |
| Norman, Minnesota | 22 | $ 2,510,000 | $ 114,090 | $ 68,000 |
| Douglas, Wisconsin | 21 | $ 4,015,000 | $ 191,190 | $ 146,000 |
| Benton, Minnesota | 20 | $ 3,140,000 | $ 157,000 | $ 100,000 |
| Cass, Minnesota | 19 | $ 4,365,000 | $ 229,736 | $ 149,000 |
| Lake, Minnesota | 18 | $ 4,870,000 | $ 270,555 | $ 198,000 |
| Marshall, Minnesota | 18 | $ 1,910,000 | $ 106,111 | $ 103,000 |
| Renville, Minnesota | 15 | $ 1,475,000 | $ 98,333 | $ 100,000 |
| Washington, Minnesota | 15 | $ 4,175,000 | $ 278,333 | $ 198,000 |
| Anoka, Minnesota | 14 | $ 2,900,000 | $ 207,142 | $ 93,000 |
| Chippewa, Wisconsin | 14 | $ 4,080,000 | $ 291,428 | $ 202,000 |
| Kanabec, Minnesota | 13 | $ 2,505,000 | $ 192,692 | $ 94,000 |
| Big Stone, Minnesota | 11 | $ 805,000 | $ 73,181 | $ 70,000 |
| Burnett, Wisconsin | 11 | $ 2,215,000 | $ 201,363 | $ 209,000 |
| Bayfield, Wisconsin | 9 | $ 1,445,000 | $ 160,555 | $ 220,000 |
| Aitkin, Minnesota | 8 | $ 1,530,000 | $ 191,250 | $ 203,000 |
| Stearns, Minnesota | 8 | $ 1,390,000 | $ 173,750 | $ 150,000 |
| Wright, Minnesota | 8 | $ 2,390,000 | $ 298,750 | $ 107,000 |
| Carver, Minnesota | 7 | $ 3,055,000 | $ 436,428 | $ 173,000 |
| Mille Lacs, Minnesota | 7 | $ 1,555,000 | $ 222,142 | $ 96,000 |
| Morrison, Minnesota | 6 | $ 870,000 | $ 145,000 | $ 68,000 |
| Sherburne, Minnesota | 6 | $ 1,280,000 | $ 213,333 | $ 185,000 |
| Hubbard, Minnesota | 5 | $ 605,000 | $ 121,000 | $ 178,000 |
| Itasca, Minnesota | 5 | $ 855,000 | $ 171,000 | $ 134,000 |
| Becker, Minnesota | 4 | $ 610,000 | $ 152,500 | $ 123,000 |
| Lac qui Parle, Minnesota | 4 | $ 420,000 | $ 105,000 | $ 56,000 |
| Steele, Minnesota | 4 | $ 1,000,000 | $ 250,000 | $ 109,000 |
| Waseca, Minnesota | 4 | $ 750,000 | $ 187,500 | $ 73,000 |
| Barron, Wisconsin | 4 | $ 670,000 | $ 167,500 | $ 159,000 |
| Washburn, Wisconsin | 4 | $ 680,000 | $ 170,000 | $ 146,000 |
| Maricopa, Arizona | 3 | $ 235,000 | $ 78,333 | $ 153,000 |
| Lee, Florida | 3 | $ 1,625,000 | $ 541,666 | $ 368,000 |
| Okaloosa, Florida | 3 | $ 555,000 | $ 185,000 | $ 48,000 |
| Freeborn, Minnesota | 3 | $ 1,095,000 | $ 365,000 | $ 113,000 |
| Goodhue, Minnesota | 3 | $ 465,000 | $ 155,000 | $ 129,000 |
| Kittson, Minnesota | 3 | $ 265,000 | $ 88,333 | $ 153,000 |
| Mahnomen, Minnesota | 3 | $ 435,000 | $ 145,000 | $ 158,000 |
| Olmsted, Minnesota | 3 | $ 765,000 | $ 255,000 | $ 187,000 |
| Otter Tail, Minnesota | 3 | $ 835,000 | $ 278,333 | $ 179,000 |
| Sibley, Minnesota | 3 | $ 245,000 | $ 81,666 | $ 115,000 |
| Stevens, Minnesota | 3 | $ 485,000 | $ 161,666 | $ 76,000 |
| Pima, Arizona | 2 | $ 320,000 | $ 160,000 | $ 113,000 |
| Walton, Florida | 2 | $ 2,440,000 | $ 1,220,000 | $ 297,000 |
| Clay, Minnesota | 2 | $ 510,000 | $ 255,000 | $ 108,000 |
| Dodge, Minnesota | 2 | $ 290,000 | $ 145,000 | $ 104,000 |
| Douglas, Minnesota | 2 | $ 580,000 | $ 290,000 | $ 121,000 |
| Kandiyohi, Minnesota | 2 | $ 380,000 | $ 190,000 | $ 176,000 |
| Pope, Minnesota | 2 | $ 300,000 | $ 150,000 | $ 115,000 |
| Red Lake, Minnesota | 2 | $ 290,000 | $ 145,000 | $ 87,000 |
| Roseau, Minnesota | 2 | $ 310,000 | $ 155,000 | $ 173,000 |
| Cass, North Dakota | 2 | $ 310,000 | $ 155,000 | $ 46,000 |
| Ramsey, North Dakota | 2 | $ 260,000 | $ 130,000 | $ 77,000 |
| Walsh, North Dakota | 2 | $ 320,000 | $ 160,000 | $ 70,000 |
| Dunn, Wisconsin | 2 | $ 490,000 | $ 245,000 | $ 159,000 |
| Marathon, Wisconsin | 2 | $ 170,000 | $ 85,000 | $ 56,000 |
| St. Croix, Wisconsin | 2 | $ 1,410,000 | $ 705,000 | $ 381,000 |
| Vilas, Wisconsin | 2 | $ 350,000 | $ 175,000 | $ 791,000 |
| Winnebago, Wisconsin | 2 | $ 1,290,000 | $ 645,000 | $ 636,000 |
| Sarasota, Florida | 1 | $ 355,000 | $ 355,000 | $ 130,000 |
| St. Johns, Florida | 1 | $ 305,000 | $ 305,000 | $ 640,000 |
| Clinton, Iowa | 1 | $ 75,000 | $ 75,000 | $ 402,000 |
| Dickinson, Iowa | 1 | $ 155,000 | $ 155,000 | $ 186,000 |
| Beltrami, Minnesota | 1 | $ 135,000 | $ 135,000 | $ 47,000 |
| Chippewa, Minnesota | 1 | $ 335,000 | $ 335,000 | $ 144,000 |
| Cook, Minnesota | 1 | $ 365,000 | $ 365,000 | $ 186,000 |
| Faribault, Minnesota | 1 | $ 65,000 | $ 65,000 | $ 31,000 |
| Fillmore, Minnesota | 1 | $ 185,000 | $ 185,000 | $ 76,000 |
| Houston, Minnesota | 1 | $ 305,000 | $ 305,000 | $ 165,000 |
| Lake of the Woods, Minnesota | 1 | $ 125,000 | $ 125,000 | $ 96,000 |
| Martin, Minnesota | 1 | $ 305,000 | $ 305,000 | $ 70,000 |
| McLeod, Minnesota | 1 | $ 35,000 | $ 35,000 | $ 197,000 |
| Meeker, Minnesota | 1 | $ 35,000 | $ 35,000 | $ 31,000 |
| Murray, Minnesota | 1 | $ 305,000 | $ 305,000 | $ 210,000 |
| Pennington, Minnesota | 1 | $ 85,000 | $ 85,000 | $ 116,000 |
| Redwood, Minnesota | 1 | $ 75,000 | $ 75,000 | $ 69,000 |
| Swift, Minnesota | 1 | $ 5,000 | $ 5,000 | $ 13,000 |
| Todd, Minnesota | 1 | $ 265,000 | $ 265,000 | $ 64,000 |
| Wadena, Minnesota | 1 | $ 175,000 | $ 175,000 | $ 0 |
| Burleigh, North Dakota | 1 | $ 395,000 | $ 395,000 | $ 95,000 |
| Morton, North Dakota | 1 | $ 85,000 | $ 85,000 | $ 27,000 |
| Pembina, North Dakota | 1 | $ 105,000 | $ 105,000 | $ 95,000 |
| Grant, South Dakota | 1 | $ 45,000 | $ 45,000 | $ 78,000 |
| Lawrence, South Dakota | 1 | $ 205,000 | $ 205,000 | $ 62,000 |
| Minnehaha, South Dakota | 1 | $ 355,000 | $ 355,000 | $ 282,000 |
| Roberts, South Dakota | 1 | $ 285,000 | $ 285,000 | $ 95,000 |
| Wilson, Tennessee | 1 | $ 315,000 | $ 315,000 | $ 306,000 |
| Ashland, Wisconsin | 1 | $ 225,000 | $ 225,000 | $ 63,000 |
| Brown, Wisconsin | 1 | $ 315,000 | $ 315,000 | $ 310,000 |
| Buffalo, Wisconsin | 1 | $ 75,000 | $ 75,000 | $ 152,000 |
| Clark, Wisconsin | 1 | $ 355,000 | $ 355,000 | $ 0 |
| Dane, Wisconsin | 1 | $ 165,000 | $ 165,000 | $ 395,000 |
| Green Lake, Wisconsin | 1 | $ 995,000 | $ 995,000 | $ 393,000 |
| Milwaukee, Wisconsin | 1 | $ 285,000 | $ 285,000 | $ 480,000 |
| Outagamie, Wisconsin | 1 | $ 345,000 | $ 345,000 | $ 187,000 |
| Pepin, Wisconsin | 1 | $ 125,000 | $ 125,000 | $ 34,000 |
| Rusk, Wisconsin | 1 | $ 505,000 | $ 505,000 | $ 121,000 |
| Trempealeau, Wisconsin | 1 | $ 75,000 | $ 75,000 | $ 400,000 |
| Waukesha, Wisconsin | 1 | $ 1,075,000 | $ 1,075,000 | $ 677,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2022
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 | 781 | $213,335,000 | $273,000 | $3,105,000 | $154,000 | $989,000 |
| Refinancing | 251 | $62,525,000 | $249,000 | $2,375,000 | $155,000 | $3,630,000 |
| Home Improvement | 248 | $21,880,000 | $88,000 | $615,000 | $151,000 | $1,900,000 |
| Cash-out Refinancing | 158 | $30,420,000 | $192,000 | $645,000 | $108,000 | $791,000 |
| Other Purpose | 139 | $13,705,000 | $98,000 | $705,000 | $126,000 | $1,080,000 |
| 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 | 1,353 | $280,965,000 | $207,000 | $2,375,000 | $141,000 | $2,008,000 |
| Not applicable | 93 | $30,345,000 | $326,000 | $3,105,000 | $0 | $0 |
| Not Provided | 86 | $21,560,000 | $250,000 | $1,455,000 | $226,000 | $3,630,000 |
| Hispanic | 26 | $4,550,000 | $175,000 | $745,000 | $144,000 | $576,000 |
| American Indian or Alaskan Native | 6 | $970,000 | $161,000 | $305,000 | $140,000 | $230,000 |
| Asian | 6 | $2,300,000 | $383,000 | $755,000 | $148,000 | $297,000 |
| Black or African American | 5 | $665,000 | $133,000 | $225,000 | $63,000 | $137,000 |
| 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) | 1,559 | $338,365,000 | $217,000 | $3,105,000 | $147,000 | $3,630,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 12 | $1,940,000 | $161,000 | $385,000 | $59,000 | $113,000 |
| VA-guaranteed (Veterans Administration) | 4 | $1,050,000 | $262,000 | $315,000 | $86,000 | $124,000 |
| FHA-insured (Federal Housing Administration) | 2 | $510,000 | $255,000 | $275,000 | $95,000 | $111,000 |
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 | 1,312 | $283,960,000 | $216,000 | $2,375,000 | $149,000 | $2,008,000 |
| Application Withdrawn By Applicant | 179 | $44,525,000 | $248,000 | $3,105,000 | $156,000 | $3,630,000 |
| Application Denied By Financial Institution | 65 | $9,475,000 | $145,000 | $1,255,000 | $80,000 | $297,000 |
| Application Approved But Not Accepted | 8 | $1,770,000 | $221,000 | $565,000 | $124,000 | $225,000 |
| Loan Purchased By The Institution | 7 | $1,295,000 | $185,000 | $255,000 | $55,000 | $66,000 |
| File Closed For Incompleteness | 6 | $840,000 | $140,000 | $235,000 | $88,000 | $183,000 |
| 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 | 1,178 | $299,950,000 | $254,000 | $3,105,000 | $148,000 | $3,630,000 |
| Debt-To-Income Ratio | 375 | $38,675,000 | $103,000 | $1,255,000 | $144,000 | $1,900,000 |
| Credit History | 19 | $2,665,000 | $140,000 | $505,000 | $91,000 | $223,000 |
| Other | 3 | $345,000 | $115,000 | $235,000 | $68,000 | $80,000 |
| Collateral | 2 | $230,000 | $115,000 | $145,000 | $98,000 | $166,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 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 2022 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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