Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2022
In 2022, Frandsen Bank & Trust of Lonsdale, MN reported 1,577 mortgage applications totaling $341.9 million, down 37% from 2021. The average application was for $216,781, and applicants reported an average income of $146,610. 83% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Duluth, MN-WI (409), Minneapolis-St. Paul-Bloomington, MN-WI (338) and Grand Forks, ND-MN (93) (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 | 1,577 |
| Total Mortgage Loan Application Amount | $341,865,000 |
| Average Mortgage Loan Application Amount | $216,781 |
| Highest Mortgage Loan Application Amount | $3,105,000 |
| Average Applicant Income | $146,610 |
| Highest Applicant Income | $3,630,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 536 | $ 94,930,000 | $ 177,108 | $ 130,078 |
| Duluth, MN-WI | 409 | $ 87,945,000 | $ 215,024 | $ 159,281 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 338 | $ 95,860,000 | $ 283,609 | $ 159,319 |
| Grand Forks, ND-MN | 93 | $ 14,005,000 | $ 150,591 | $ 99,387 |
| Mankato-North Mankato, MN | 87 | $ 17,285,000 | $ 198,678 | $ 134,000 |
| Eau Claire, WI | 47 | $ 14,315,000 | $ 304,574 | $ 202,000 |
| St. Cloud, MN | 28 | $ 4,530,000 | $ 161,785 | $ 115,000 |
| Rochester, MN | 6 | $ 1,240,000 | $ 206,666 | $ 141,000 |
| Crestview-Fort Walton Beach-Destin, FL | 5 | $ 2,995,000 | $ 599,000 | $ 110,000 |
| Fargo, ND-MN | 4 | $ 820,000 | $ 205,000 | $ 77,000 |
| Cape Coral-Fort Myers, FL | 3 | $ 1,625,000 | $ 541,666 | $ 368,000 |
| Phoenix-Mesa-Scottsdale, AZ | 3 | $ 235,000 | $ 78,333 | $ 153,000 |
| Bismarck, ND | 2 | $ 480,000 | $ 240,000 | $ 61,000 |
| Milwaukee-Waukesha-West Allis, WI | 2 | $ 1,360,000 | $ 680,000 | $ 578,000 |
| Oshkosh-Neenah, WI | 2 | $ 1,290,000 | $ 645,000 | $ 636,000 |
| Tucson, AZ | 2 | $ 320,000 | $ 160,000 | $ 113,000 |
| Wausau, WI | 2 | $ 170,000 | $ 85,000 | $ 56,000 |
| Appleton, WI | 1 | $ 345,000 | $ 345,000 | $ 187,000 |
| Green Bay, WI | 1 | $ 315,000 | $ 315,000 | $ 310,000 |
| Jacksonville, FL | 1 | $ 305,000 | $ 305,000 | $ 640,000 |
| La Crosse-Onalaska, WI-MN | 1 | $ 305,000 | $ 305,000 | $ 165,000 |
| Madison, WI | 1 | $ 165,000 | $ 165,000 | $ 395,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 1 | $ 315,000 | $ 315,000 | $ 306,000 |
| North Port-Sarasota-Bradenton, FL | 1 | $ 355,000 | $ 355,000 | $ 130,000 |
| Sioux Falls, SD | 1 | $ 355,000 | $ 355,000 | $ 282,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2022
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 | 781 | $213,335,000 | $273,000 | $3,105,000 | $154,000 | $989,000 |
| Refinancing | 251 | $62,525,000 | $249,000 | $2,375,000 | $155,000 | $3,630,000 |
| Home Improvement | 248 | $21,880,000 | $88,000 | $615,000 | $151,000 | $1,900,000 |
| Cash-out Refinancing | 158 | $30,420,000 | $192,000 | $645,000 | $108,000 | $791,000 |
| Other Purpose | 139 | $13,705,000 | $98,000 | $705,000 | $126,000 | $1,080,000 |
| 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 | 1,353 | $280,965,000 | $207,000 | $2,375,000 | $141,000 | $2,008,000 |
| Not applicable | 93 | $30,345,000 | $326,000 | $3,105,000 | $0 | $0 |
| Not Provided | 86 | $21,560,000 | $250,000 | $1,455,000 | $226,000 | $3,630,000 |
| Hispanic | 26 | $4,550,000 | $175,000 | $745,000 | $144,000 | $576,000 |
| American Indian or Alaskan Native | 6 | $970,000 | $161,000 | $305,000 | $140,000 | $230,000 |
| Asian | 6 | $2,300,000 | $383,000 | $755,000 | $148,000 | $297,000 |
| Black or African American | 5 | $665,000 | $133,000 | $225,000 | $63,000 | $137,000 |
| 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) | 1,559 | $338,365,000 | $217,000 | $3,105,000 | $147,000 | $3,630,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 12 | $1,940,000 | $161,000 | $385,000 | $59,000 | $113,000 |
| VA-guaranteed (Veterans Administration) | 4 | $1,050,000 | $262,000 | $315,000 | $86,000 | $124,000 |
| FHA-insured (Federal Housing Administration) | 2 | $510,000 | $255,000 | $275,000 | $95,000 | $111,000 |
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 | 1,312 | $283,960,000 | $216,000 | $2,375,000 | $149,000 | $2,008,000 |
| Application Withdrawn By Applicant | 179 | $44,525,000 | $248,000 | $3,105,000 | $156,000 | $3,630,000 |
| Application Denied By Financial Institution | 65 | $9,475,000 | $145,000 | $1,255,000 | $80,000 | $297,000 |
| Application Approved But Not Accepted | 8 | $1,770,000 | $221,000 | $565,000 | $124,000 | $225,000 |
| Loan Purchased By The Institution | 7 | $1,295,000 | $185,000 | $255,000 | $55,000 | $66,000 |
| File Closed For Incompleteness | 6 | $840,000 | $140,000 | $235,000 | $88,000 | $183,000 |
| 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 | 1,178 | $299,950,000 | $254,000 | $3,105,000 | $148,000 | $3,630,000 |
| Debt-To-Income Ratio | 375 | $38,675,000 | $103,000 | $1,255,000 | $144,000 | $1,900,000 |
| Credit History | 19 | $2,665,000 | $140,000 | $505,000 | $91,000 | $223,000 |
| Other | 3 | $345,000 | $115,000 | $235,000 | $68,000 | $80,000 |
| Collateral | 2 | $230,000 | $115,000 | $145,000 | $98,000 | $166,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 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 2022 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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