Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2017
In 2017, Frandsen Bank & Trust of Lonsdale, MN reported 1,401 mortgage applications totaling $242.0 million, about the same as 2016. The average application was for $172,710, and applicants reported an average income of $94,980. 78% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (376), Duluth, MN-WI (245) 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 | 1,401 |
| Total Mortgage Loan Application Amount | $241,967,000 |
| Average Mortgage Loan Application Amount | $172,710 |
| Highest Mortgage Loan Application Amount | $5,340,000 |
| Average Applicant Income | $94,980 |
| Highest Applicant Income | $1,538,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 376 | $ 78,314,000 | $ 208,281 | $ 111,659 |
| Duluth, MN-WI | 245 | $ 36,261,000 | $ 148,004 | $ 89,061 |
| Grand Forks, ND-MN | 145 | $ 23,676,000 | $ 163,282 | $ 78,882 |
| Mankato-North Mankato, MN | 74 | $ 13,707,000 | $ 185,229 | $ 92,000 |
| St. Cloud, MN | 28 | $ 2,954,000 | $ 105,500 | $ 63,000 |
| Phoenix-Mesa-Scottsdale, AZ | 7 | $ 1,915,000 | $ 273,571 | $ 211,000 |
| Rochester, MN | 6 | $ 915,000 | $ 152,500 | $ 55,000 |
| Cape Coral-Fort Myers, FL | 2 | $ 365,000 | $ 182,500 | $ 116,000 |
| Chicago-Naperville-Arlington Heights, IL | 2 | $ 476,000 | $ 238,000 | $ 114,000 |
| Riverside-San Bernardino-Ontario, CA | 2 | $ 405,000 | $ 202,500 | $ 167,000 |
| Tampa-St. Petersburg-Clearwater, FL | 2 | $ 963,000 | $ 481,500 | $ 145,000 |
| Waterloo-Cedar Falls, IA | 2 | $ 144,000 | $ 72,000 | $ 50,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 2 | $ 667,000 | $ 333,500 | $ 124,000 |
| Austin-Round Rock, TX | 1 | $ 184,000 | $ 184,000 | $ 100,000 |
| Bismarck, ND | 1 | $ 35,000 | $ 35,000 | $ 82,000 |
| Des Moines-West Des Moines, IA | 1 | $ 788,000 | $ 788,000 | $ 480,000 |
| Eau Claire, WI | 1 | $ 102,000 | $ 102,000 | $ 180,000 |
| Fargo, ND-MN | 1 | $ 148,000 | $ 148,000 | $ 850,000 |
| Flagstaff, AZ | 1 | $ 404,000 | $ 404,000 | $ 74,000 |
| Fort Collins, CO | 1 | $ 219,000 | $ 219,000 | $ 77,000 |
| Gary, IN | 1 | $ 125,000 | $ 125,000 | $ 34,000 |
| La Crosse-Onalaska, WI-MN | 1 | $ 100,000 | $ 100,000 | $ 161,000 |
| Naples-Immokalee-Marco Island, FL | 1 | $ 256,000 | $ 256,000 | $ 185,000 |
| Punta Gorda, FL | 1 | $ 150,000 | $ 150,000 | $ 37,000 |
| Sioux Falls, SD | 1 | $ 161,000 | $ 161,000 | $ 42,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2017
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 | 837 | $147,991,000 | $176,000 | $5,340,000 | $96,000 | $1,538,000 |
| Refinancing | 420 | $77,483,000 | $184,000 | $1,410,000 | $95,000 | $939,000 |
| Home Improvement | 144 | $16,493,000 | $114,000 | $900,000 | $89,000 | $1,053,000 |
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 | 1,236 | $208,354,000 | $168,000 | $1,940,000 | $98,000 | $1,084,000 |
| Not Provided | 76 | $12,742,000 | $167,000 | $630,000 | $111,000 | $535,000 |
| Not applicable | 53 | $16,001,000 | $301,000 | $5,340,000 | $29,000 | $1,538,000 |
| Asian | 12 | $2,208,000 | $184,000 | $525,000 | $96,000 | $195,000 |
| Hispanic | 9 | $709,000 | $78,000 | $157,000 | $45,000 | $72,000 |
| American Indian or Alaskan Native | 7 | $513,000 | $73,000 | $121,000 | $37,000 | $72,000 |
| Black or African American | 6 | $830,000 | $138,000 | $280,000 | $71,000 | $178,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $610,000 | $305,000 | $380,000 | $177,000 | $184,000 |
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) | 1,329 | $233,173,000 | $175,000 | $5,340,000 | $97,000 | $1,538,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 53 | $6,212,000 | $117,000 | $301,000 | $47,000 | $96,000 |
| FHA-insured (Federal Housing Administration) | 12 | $1,796,000 | $149,000 | $312,000 | $68,000 | $174,000 |
| VA-guaranteed (Veterans Administration) | 7 | $786,000 | $112,000 | $190,000 | $49,000 | $100,000 |
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 | 1,095 | $191,451,000 | $174,000 | $5,340,000 | $99,000 | $1,538,000 |
| Application Withdrawn By Applicant | 140 | $26,827,000 | $191,000 | $1,000,000 | $99,000 | $535,000 |
| Application Denied By Financial Institution | 125 | $16,791,000 | $134,000 | $420,000 | $62,000 | $257,000 |
| Application Approved But Not Accepted | 31 | $5,648,000 | $182,000 | $404,000 | $93,000 | $260,000 |
| Preapproval Denied by Financial Institution | 7 | $758,000 | $108,000 | $175,000 | $50,000 | $96,000 |
| File Closed For Incompleteness | 3 | $492,000 | $164,000 | $340,000 | $94,000 | $152,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $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 | 72 | $8,627,000 | $119,000 | $420,000 | $61,000 | $257,000 |
| Debt-To-Income Ratio | 34 | $5,169,000 | $152,000 | $375,000 | $61,000 | $127,000 |
| Collateral | 11 | $1,609,000 | $146,000 | $384,000 | $59,000 | $122,000 |
| Other | 9 | $1,047,000 | $116,000 | $220,000 | $73,000 | $101,000 |
| Employment History | 3 | $563,000 | $187,000 | $243,000 | $29,000 | $68,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $514,000 | $257,000 | $264,000 | $102,000 | $114,000 |
| Credit Application Incomplete | 1 | $20,000 | $20,000 | $20,000 | $72,000 | $72,000 |
| Unverifiable Information | 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 2017 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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