Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2015
In 2015, Frandsen Bank & Trust of Lonsdale, MN reported 1,264 mortgage applications totaling $187.8 million. The average application was for $148,576, and applicants reported an average income of $85,678. 77% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (237), Duluth, MN-WI (235) and Grand Forks, ND-MN (151) (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 | 1,264 |
| Total Mortgage Loan Application Amount | $187,801,000 |
| Average Mortgage Loan Application Amount | $148,576 |
| Highest Mortgage Loan Application Amount | $4,307,000 |
| Average Applicant Income | $85,678 |
| Highest Applicant Income | $1,454,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Minneapolis-St. Paul-Bloomington, MN-WI | 237 | $ 52,475,000 | $ 221,413 | $ 97,198 |
| Duluth, MN-WI | 235 | $ 29,672,000 | $ 126,263 | $ 94,238 |
| Grand Forks, ND-MN | 151 | $ 20,967,000 | $ 138,854 | $ 94,304 |
| Mankato-North Mankato, MN | 75 | $ 11,885,000 | $ 158,466 | $ 65,000 |
| St. Cloud, MN | 43 | $ 5,007,000 | $ 116,441 | $ 65,000 |
| Fargo, ND-MN | 7 | $ 1,005,000 | $ 143,571 | $ 204,714 |
| Sioux Falls, SD | 3 | $ 418,000 | $ 139,333 | $ 81,000 |
| Cape Coral-Fort Myers, FL | 1 | $ 115,000 | $ 115,000 | $ 74,000 |
| Orlando-Kissimmee-Sanford, FL | 1 | $ 173,000 | $ 173,000 | $ 249,000 |
| Phoenix-Mesa-Scottsdale, AZ | 1 | $ 103,000 | $ 103,000 | $ 134,000 |
| Rochester, MN | 1 | $ 106,000 | $ 106,000 | $ 42,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2015
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 | 653 | $96,433,000 | $147,000 | $900,000 | $81,000 | $894,000 |
| Refinancing | 466 | $77,659,000 | $166,000 | $4,307,000 | $94,000 | $1,454,000 |
| Home Improvement | 145 | $13,709,000 | $94,000 | $450,000 | $80,000 | $479,000 |
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 | 1,106 | $155,996,000 | $141,000 | $900,000 | $87,000 | $1,454,000 |
| Not Provided | 83 | $13,709,000 | $165,000 | $635,000 | $122,000 | $877,000 |
| Not applicable | 48 | $14,639,000 | $304,000 | $4,307,000 | $0 | $0 |
| Hispanic | 14 | $1,588,000 | $113,000 | $218,000 | $61,000 | $175,000 |
| American Indian or Alaskan Native | 7 | $654,000 | $93,000 | $148,000 | $85,000 | $166,000 |
| Asian | 6 | $1,215,000 | $202,000 | $411,000 | $62,000 | $120,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 1,192 | $178,247,000 | $149,000 | $4,307,000 | $87,000 | $1,454,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 49 | $5,975,000 | $121,000 | $300,000 | $47,000 | $147,000 |
| FHA-insured (Federal Housing Administration) | 13 | $1,487,000 | $114,000 | $200,000 | $61,000 | $127,000 |
| VA-guaranteed (Veterans Administration) | 10 | $2,092,000 | $209,000 | $377,000 | $80,000 | $109,000 |
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 | 974 | $143,418,000 | $147,000 | $4,307,000 | $88,000 | $1,454,000 |
| Application Denied By Financial Institution | 130 | $17,684,000 | $136,000 | $635,000 | $58,000 | $331,000 |
| Application Withdrawn By Applicant | 104 | $18,458,000 | $177,000 | $900,000 | $102,000 | $877,000 |
| Application Approved But Not Accepted | 37 | $5,827,000 | $157,000 | $410,000 | $83,000 | $355,000 |
| Preapproval Denied by Financial Institution | 17 | $2,204,000 | $129,000 | $387,000 | $57,000 | $160,000 |
| File Closed For Incompleteness | 1 | $90,000 | $90,000 | $90,000 | $173,000 | $173,000 |
| Loan Purchased By The Institution | 1 | $120,000 | $120,000 | $120,000 | $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 | 67 | $8,225,000 | $122,000 | $635,000 | $60,000 | $331,000 |
| Debt-To-Income Ratio | 44 | $7,033,000 | $159,000 | $500,000 | $50,000 | $207,000 |
| Collateral | 18 | $2,252,000 | $125,000 | $225,000 | $71,000 | $138,000 |
| Employment History | 10 | $1,444,000 | $144,000 | $309,000 | $54,000 | $120,000 |
| Other | 6 | $530,000 | $88,000 | $139,000 | $49,000 | $89,000 |
| Unverifiable Information | 1 | $104,000 | $104,000 | $104,000 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $300,000 | $300,000 | $300,000 | $147,000 | $147,000 |
| 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 2015 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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