Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2021
In 2021, Frandsen Bank & Trust of Lonsdale, MN reported 2,492 mortgage applications totaling $544.0 million, down 8% from 2020. The average application was for $218,314, and applicants reported an average income of $121,872. 83% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (686), Duluth, MN-WI (502) and Grand Forks, ND-MN (182) (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 | 2,492 |
| Total Mortgage Loan Application Amount | $544,040,000 |
| Average Mortgage Loan Application Amount | $218,314 |
| Highest Mortgage Loan Application Amount | $2,745,000 |
| Average Applicant Income | $121,872 |
| Highest Applicant Income | $2,196,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 838 | $ 155,630,000 | $ 185,715 | $ 103,994 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 686 | $ 182,000,000 | $ 265,306 | $ 141,113 |
| Duluth, MN-WI | 502 | $ 103,530,000 | $ 206,235 | $ 115,852 |
| Grand Forks, ND-MN | 182 | $ 33,910,000 | $ 186,318 | $ 95,472 |
| Mankato-North Mankato, MN | 111 | $ 22,225,000 | $ 200,225 | $ 98,000 |
| Eau Claire, WI | 57 | $ 15,355,000 | $ 269,385 | $ 229,000 |
| St. Cloud, MN | 52 | $ 8,570,000 | $ 164,807 | $ 97,000 |
| Rochester, MN | 9 | $ 2,025,000 | $ 225,000 | $ 166,000 |
| Milwaukee-Waukesha-West Allis, WI | 8 | $ 4,080,000 | $ 510,000 | $ 480,000 |
| Phoenix-Mesa-Scottsdale, AZ | 7 | $ 1,775,000 | $ 253,571 | $ 166,000 |
| Cape Coral-Fort Myers, FL | 6 | $ 1,670,000 | $ 278,333 | $ 153,000 |
| Fargo, ND-MN | 5 | $ 1,605,000 | $ 321,000 | $ 312,600 |
| Sebastian-Vero Beach, FL | 3 | $ 605,000 | $ 201,666 | $ 160,000 |
| Crestview-Fort Walton Beach-Destin, FL | 2 | $ 1,430,000 | $ 715,000 | $ 216,000 |
| Des Moines-West Des Moines, IA | 2 | $ 650,000 | $ 325,000 | $ 141,000 |
| Lake Havasu City-Kingman, AZ | 2 | $ 470,000 | $ 235,000 | $ 132,000 |
| Madison, WI | 2 | $ 910,000 | $ 455,000 | $ 225,000 |
| Naples-Immokalee-Marco Island, FL | 2 | $ 620,000 | $ 310,000 | $ 375,000 |
| Tampa-St. Petersburg-Clearwater, FL | 2 | $ 250,000 | $ 125,000 | $ 121,000 |
| Tucson, AZ | 2 | $ 470,000 | $ 235,000 | $ 234,000 |
| Anaheim-Santa Ana-Irvine, CA | 1 | $ 545,000 | $ 545,000 | $ 179,000 |
| Bismarck, ND | 1 | $ 305,000 | $ 305,000 | $ 87,000 |
| Charlotte-Concord-Gastonia, NC-SC | 1 | $ 1,085,000 | $ 1,085,000 | $ 0 |
| Denver-Aurora-Lakewood, CO | 1 | $ 325,000 | $ 325,000 | $ 79,000 |
| Jacksonville, FL | 1 | $ 685,000 | $ 685,000 | $ 291,000 |
| Janesville-Beloit, WI | 1 | $ 155,000 | $ 155,000 | $ 116,000 |
| La Crosse-Onalaska, WI-MN | 1 | $ 745,000 | $ 745,000 | $ 315,000 |
| Pensacola-Ferry Pass-Brent, FL | 1 | $ 185,000 | $ 185,000 | $ 133,000 |
| Portland-South Portland, ME | 1 | $ 545,000 | $ 545,000 | $ 319,000 |
| Prescott Valley-Prescott, AZ | 1 | $ 355,000 | $ 355,000 | $ 61,000 |
| Wausau, WI | 1 | $ 595,000 | $ 595,000 | $ 384,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 1 | $ 735,000 | $ 735,000 | $ 0 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2021
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 |
|---|---|---|---|---|---|---|
| Refinancing | 1,017 | $228,655,000 | $224,000 | $2,745,000 | $130,000 | $2,196,000 |
| Home Purchase | 826 | $191,360,000 | $231,000 | $1,835,000 | $127,000 | $1,798,000 |
| Cash-out Refinancing | 554 | $111,810,000 | $201,000 | $765,000 | $101,000 | $1,065,000 |
| Other Purpose | 57 | $9,075,000 | $159,000 | $1,005,000 | $124,000 | $700,000 |
| Home Improvement | 38 | $3,140,000 | $82,000 | $405,000 | $94,000 | $365,000 |
| 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 | 2,170 | $461,540,000 | $212,000 | $1,385,000 | $119,000 | $2,196,000 |
| Not Provided | 143 | $33,345,000 | $233,000 | $1,575,000 | $140,000 | $1,798,000 |
| Not applicable | 122 | $36,080,000 | $295,000 | $2,745,000 | $0 | $0 |
| Hispanic | 23 | $3,905,000 | $169,000 | $425,000 | $126,000 | $581,000 |
| Asian | 19 | $6,505,000 | $342,000 | $1,085,000 | $203,000 | $638,000 |
| American Indian or Alaskan Native | 8 | $1,250,000 | $156,000 | $235,000 | $147,000 | $638,000 |
| Black or African American | 6 | $810,000 | $135,000 | $265,000 | $81,000 | $196,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $605,000 | $605,000 | $605,000 | $157,000 | $157,000 |
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) | 2,466 | $539,610,000 | $218,000 | $2,745,000 | $122,000 | $2,196,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 21 | $3,165,000 | $150,000 | $305,000 | $56,000 | $86,000 |
| VA-guaranteed (Veterans Administration) | 4 | $1,070,000 | $267,000 | $375,000 | $80,000 | $197,000 |
| FHA-insured (Federal Housing Administration) | 1 | $195,000 | $195,000 | $195,000 | $75,000 | $75,000 |
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 | 2,057 | $446,705,000 | $217,000 | $2,745,000 | $122,000 | $2,196,000 |
| Application Withdrawn By Applicant | 331 | $76,265,000 | $230,000 | $1,205,000 | $129,000 | $823,000 |
| Application Denied By Financial Institution | 86 | $17,810,000 | $207,000 | $1,085,000 | $76,000 | $943,000 |
| File Closed For Incompleteness | 9 | $1,975,000 | $219,000 | $505,000 | $130,000 | $360,000 |
| Application Approved But Not Accepted | 8 | $980,000 | $122,000 | $195,000 | $117,000 | $275,000 |
| Loan Purchased By The Institution | 1 | $305,000 | $305,000 | $305,000 | $0 | $0 |
| 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 | 2,406 | $526,230,000 | $218,000 | $2,745,000 | $123,000 | $2,196,000 |
| Debt-To-Income Ratio | 48 | $10,680,000 | $222,000 | $915,000 | $50,000 | $199,000 |
| Credit History | 16 | $2,370,000 | $148,000 | $385,000 | $74,000 | $240,000 |
| Collateral | 11 | $2,645,000 | $240,000 | $1,085,000 | $190,000 | $943,000 |
| Other | 6 | $1,200,000 | $200,000 | $345,000 | $89,000 | $225,000 |
| Employment History | 5 | $915,000 | $183,000 | $325,000 | $83,000 | $270,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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 2021 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.
Mortgage lenders & HMDA data by state: Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · New York · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Puerto Rico · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virginia · Washington · West Virginia · Wisconsin · Wyoming
Home · Mortgage lenders A–Z · Data downloads · Blog · About