Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2016
In 2016, Frandsen Bank & Trust of Lonsdale, MN reported 1,403 mortgage applications totaling $219.9 million, up 11% from 2015. The average application was for $156,741, and applicants reported an average income of $91,287. 79% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (271), Duluth, MN-WI (239) and Grand Forks, ND-MN (221) (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 | 1,403 |
| Total Mortgage Loan Application Amount | $219,909,000 |
| Average Mortgage Loan Application Amount | $156,741 |
| Highest Mortgage Loan Application Amount | $1,804,000 |
| Average Applicant Income | $91,287 |
| Highest Applicant Income | $1,840,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 271 | $ 48,420,000 | $ 178,671 | $ 102,911 |
| Duluth, MN-WI | 239 | $ 31,971,000 | $ 133,769 | $ 83,740 |
| Grand Forks, ND-MN | 221 | $ 37,128,000 | $ 168,000 | $ 82,000 |
| Mankato-North Mankato, MN | 90 | $ 15,247,000 | $ 169,411 | $ 86,000 |
| St. Cloud, MN | 45 | $ 6,131,000 | $ 136,244 | $ 78,000 |
| Rochester, MN | 9 | $ 1,818,000 | $ 202,000 | $ 163,000 |
| Fargo, ND-MN | 6 | $ 1,153,000 | $ 192,166 | $ 97,000 |
| Phoenix-Mesa-Scottsdale, AZ | 4 | $ 838,000 | $ 209,500 | $ 138,000 |
| Dallas-Plano-Irving, TX | 1 | $ 248,000 | $ 248,000 | $ 152,000 |
| Eau Claire, WI | 1 | $ 300,000 | $ 300,000 | $ 48,000 |
| Janesville-Beloit, WI | 1 | $ 180,000 | $ 180,000 | $ 118,000 |
| Lake Havasu City-Kingman, AZ | 1 | $ 162,000 | $ 162,000 | $ 127,000 |
| Milwaukee-Waukesha-West Allis, WI | 1 | $ 320,000 | $ 320,000 | $ 145,000 |
| Naples-Immokalee-Marco Island, FL | 1 | $ 1,000,000 | $ 1,000,000 | $ 458,000 |
| North Port-Sarasota-Bradenton, FL | 1 | $ 316,000 | $ 316,000 | $ 73,000 |
| Riverside-San Bernardino-Ontario, CA | 1 | $ 1,070,000 | $ 1,070,000 | $ 1,840,000 |
| Sioux Falls, SD | 1 | $ 225,000 | $ 225,000 | $ 138,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2016
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 | 702 | $108,051,000 | $153,000 | $1,070,000 | $87,000 | $1,840,000 |
| Refinancing | 559 | $94,520,000 | $169,000 | $1,804,000 | $97,000 | $1,136,000 |
| Home Improvement | 142 | $17,338,000 | $122,000 | $413,000 | $90,000 | $528,000 |
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 | 1,234 | $189,495,000 | $153,000 | $1,070,000 | $93,000 | $1,840,000 |
| Not Provided | 95 | $17,432,000 | $183,000 | $575,000 | $119,000 | $516,000 |
| Not applicable | 50 | $9,462,000 | $189,000 | $1,804,000 | $4,000 | $244,000 |
| Hispanic | 13 | $1,537,000 | $118,000 | $196,000 | $65,000 | $101,000 |
| Asian | 9 | $1,672,000 | $185,000 | $319,000 | $91,000 | $175,000 |
| Black or African American | 1 | $230,000 | $230,000 | $230,000 | $64,000 | $64,000 |
| American Indian or Alaskan Native | 1 | $81,000 | $81,000 | $81,000 | $32,000 | $32,000 |
| Native Hawaiin 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) | 1,344 | $212,717,000 | $158,000 | $1,804,000 | $94,000 | $1,840,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 49 | $5,577,000 | $113,000 | $236,000 | $41,000 | $82,000 |
| VA-guaranteed (Veterans Administration) | 5 | $969,000 | $193,000 | $306,000 | $77,000 | $129,000 |
| FHA-insured (Federal Housing Administration) | 5 | $646,000 | $129,000 | $235,000 | $45,000 | $72,000 |
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 | 1,112 | $176,214,000 | $158,000 | $1,804,000 | $95,000 | $1,840,000 |
| Application Denied By Financial Institution | 132 | $18,977,000 | $143,000 | $980,000 | $71,000 | $385,000 |
| Application Withdrawn By Applicant | 102 | $16,405,000 | $160,000 | $417,000 | $86,000 | $516,000 |
| Application Approved But Not Accepted | 32 | $5,244,000 | $163,000 | $381,000 | $109,000 | $255,000 |
| Preapproval Denied by Financial Institution | 22 | $2,725,000 | $123,000 | $250,000 | $49,000 | $152,000 |
| File Closed For Incompleteness | 2 | $298,000 | $149,000 | $223,000 | $70,000 | $98,000 |
| Loan Purchased By The Institution | 1 | $46,000 | $46,000 | $46,000 | $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 | 71 | $8,511,000 | $119,000 | $575,000 | $63,000 | $297,000 |
| Debt-To-Income Ratio | 49 | $7,470,000 | $152,000 | $980,000 | $71,000 | $385,000 |
| Collateral | 20 | $3,568,000 | $178,000 | $400,000 | $87,000 | $373,000 |
| Employment History | 7 | $743,000 | $106,000 | $225,000 | $35,000 | $59,000 |
| Other | 3 | $665,000 | $221,000 | $296,000 | $53,000 | $88,000 |
| Unverifiable Information | 2 | $395,000 | $197,000 | $235,000 | $83,000 | $98,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $350,000 | $175,000 | $300,000 | $77,000 | $94,000 |
| 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 2016 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.
For a list of all lenders in Minnesota, download the full spreadsheet
with aggregated HMDA statistics today.
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