Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2018
In 2018, Frandsen Bank & Trust of Lonsdale, MN reported 1,209 mortgage applications totaling $213.7 million, down 14% from 2017. The average application was for $176,720, and applicants reported an average income of $105,560. 76% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (274), Duluth, MN-WI (255) and Grand Forks, ND-MN (120) (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 | 1,209 |
| Total Mortgage Loan Application Amount | $213,655,000 |
| Average Mortgage Loan Application Amount | $176,720 |
| Highest Mortgage Loan Application Amount | $11,505,000 |
| Average Applicant Income | $105,560 |
| Highest Applicant Income | $2,044,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Outside any metro area | 440 | $ 69,030,000 | $ 156,886 | $ 110,965 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 274 | $ 67,050,000 | $ 244,708 | $ 115,759 |
| Duluth, MN-WI | 255 | $ 34,315,000 | $ 134,568 | $ 91,152 |
| Grand Forks, ND-MN | 120 | $ 17,640,000 | $ 147,000 | $ 87,525 |
| Mankato-North Mankato, MN | 57 | $ 10,735,000 | $ 188,333 | $ 104,000 |
| St. Cloud, MN | 29 | $ 3,895,000 | $ 134,310 | $ 91,000 |
| Fargo, ND-MN | 6 | $ 980,000 | $ 163,333 | $ 117,500 |
| Phoenix-Mesa-Scottsdale, AZ | 6 | $ 1,360,000 | $ 226,666 | $ 238,000 |
| Rochester, MN | 3 | $ 725,000 | $ 241,666 | $ 318,000 |
| Bismarck, ND | 2 | $ 4,310,000 | $ 2,155,000 | $ 0 |
| Cape Coral-Fort Myers, FL | 2 | $ 670,000 | $ 335,000 | $ 162,000 |
| Dallas-Plano-Irving, TX | 1 | $ 225,000 | $ 225,000 | $ 156,000 |
| La Crosse-Onalaska, WI-MN | 1 | $ 215,000 | $ 215,000 | $ 54,000 |
| Lake Havasu City-Kingman, AZ | 1 | $ 95,000 | $ 95,000 | $ 253,000 |
| Madison, WI | 1 | $ 225,000 | $ 225,000 | $ 62,000 |
| Naples-Immokalee-Marco Island, FL | 1 | $ 255,000 | $ 255,000 | $ 250,000 |
| North Port-Sarasota-Bradenton, FL | 1 | $ 195,000 | $ 195,000 | $ 72,000 |
| Orlando-Kissimmee-Sanford, FL | 1 | $ 365,000 | $ 365,000 | $ 248,000 |
| Tampa-St. Petersburg-Clearwater, FL | 1 | $ 275,000 | $ 275,000 | $ 158,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2018
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 | 774 | $154,410,000 | $199,000 | $11,505,000 | $114,000 | $2,044,000 |
| Refinancing | 204 | $32,930,000 | $161,000 | $2,205,000 | $91,000 | $601,000 |
| Cash-out Refinancing | 120 | $19,480,000 | $162,000 | $455,000 | $83,000 | $419,000 |
| Other Purpose | 58 | $3,780,000 | $65,000 | $385,000 | $95,000 | $349,000 |
| Home Improvement | 53 | $3,055,000 | $57,000 | $175,000 | $101,000 | $357,000 |
| 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 | 1,072 | $173,530,000 | $161,000 | $1,015,000 | $105,000 | $2,044,000 |
| Not Provided | 53 | $10,655,000 | $201,000 | $845,000 | $144,000 | $741,000 |
| Not applicable | 51 | $24,655,000 | $483,000 | $11,505,000 | $0 | $0 |
| Hispanic | 17 | $2,415,000 | $142,000 | $255,000 | $92,000 | $273,000 |
| Black or African American | 9 | $1,215,000 | $135,000 | $425,000 | $70,000 | $161,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $180,000 | $90,000 | $165,000 | $46,000 | $49,000 |
| American Indian or Alaskan Native | 2 | $90,000 | $45,000 | $65,000 | $68,000 | $92,000 |
| Asian | 2 | $680,000 | $340,000 | $445,000 | $148,000 | $196,000 |
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) | 1,147 | $205,375,000 | $179,000 | $11,505,000 | $109,000 | $2,044,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 47 | $5,345,000 | $113,000 | $265,000 | $44,000 | $88,000 |
| VA-guaranteed (Veterans Administration) | 13 | $2,625,000 | $201,000 | $375,000 | $75,000 | $156,000 |
| FHA-insured (Federal Housing Administration) | 2 | $310,000 | $155,000 | $235,000 | $114,000 | $115,000 |
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 | 919 | $166,785,000 | $181,000 | $11,505,000 | $108,000 | $2,044,000 |
| Application Withdrawn By Applicant | 169 | $31,155,000 | $184,000 | $775,000 | $120,000 | $601,000 |
| Application Denied By Financial Institution | 100 | $12,880,000 | $128,000 | $465,000 | $63,000 | $248,000 |
| Preapproval Denied by Financial Institution | 7 | $1,095,000 | $156,000 | $255,000 | $61,000 | $115,000 |
| Preapproval Approved but not Accepted | 6 | $1,160,000 | $193,000 | $245,000 | $122,000 | $273,000 |
| Application Approved But Not Accepted | 5 | $385,000 | $77,000 | $235,000 | $63,000 | $120,000 |
| File Closed For Incompleteness | 3 | $195,000 | $65,000 | $65,000 | $134,000 | $207,000 |
| Loan Purchased By The 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 | 1,102 | $199,680,000 | $181,000 | $11,505,000 | $110,000 | $2,044,000 |
| Credit History | 58 | $6,610,000 | $113,000 | $275,000 | $66,000 | $217,000 |
| Debt-To-Income Ratio | 31 | $5,195,000 | $167,000 | $465,000 | $54,000 | $100,000 |
| Employment History | 6 | $1,000,000 | $166,000 | $365,000 | $80,000 | $248,000 |
| Collateral | 6 | $400,000 | $66,000 | $135,000 | $61,000 | $107,000 |
| Other | 5 | $535,000 | $107,000 | $225,000 | $74,000 | $156,000 |
| Unverifiable Information | 1 | $235,000 | $235,000 | $235,000 | $60,000 | $60,000 |
| 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 2018 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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