Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2019
In 2019, Frandsen Bank & Trust of Lonsdale, MN reported 1,422 mortgage applications totaling $254.8 million, up 18% from 2018. The average application was for $179,212, and applicants reported an average income of $102,759. 80% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (302), Duluth, MN-WI (258) 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 | 1,422 |
| Total Mortgage Loan Application Amount | $254,840,000 |
| Average Mortgage Loan Application Amount | $179,212 |
| Highest Mortgage Loan Application Amount | $865,000 |
| Average Applicant Income | $102,759 |
| Highest Applicant Income | $1,126,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2019
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 | 792 | $147,660,000 | $186,000 | $865,000 | $105,000 | $1,126,000 |
| Refinancing | 301 | $58,225,000 | $193,000 | $705,000 | $111,000 | $543,000 |
| Cash-out Refinancing | 222 | $41,390,000 | $186,000 | $485,000 | $91,000 | $380,000 |
| Home Improvement | 54 | $3,240,000 | $60,000 | $255,000 | $74,000 | $154,000 |
| Other Purpose | 52 | $4,270,000 | $82,000 | $345,000 | $101,000 | $396,000 |
| Not Applicable | 1 | $55,000 | $55,000 | $55,000 | $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 | 1,268 | $227,570,000 | $179,000 | $865,000 | $101,000 | $1,126,000 |
| Not applicable | 65 | $10,035,000 | $154,000 | $705,000 | $0 | $0 |
| Not Provided | 63 | $12,705,000 | $201,000 | $725,000 | $146,000 | $650,000 |
| Hispanic | 9 | $1,405,000 | $156,000 | $355,000 | $70,000 | $231,000 |
| Asian | 8 | $2,040,000 | $255,000 | $625,000 | $127,000 | $420,000 |
| American Indian or Alaskan Native | 5 | $365,000 | $73,000 | $175,000 | $59,000 | $90,000 |
| Black or African American | 2 | $480,000 | $240,000 | $425,000 | $75,000 | $109,000 |
| 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) | 1,368 | $247,470,000 | $180,000 | $865,000 | $105,000 | $1,126,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 46 | $5,440,000 | $118,000 | $305,000 | $46,000 | $109,000 |
| VA-guaranteed (Veterans Administration) | 7 | $1,895,000 | $270,000 | $465,000 | $75,000 | $110,000 |
| FHA-insured (Federal Housing Administration) | 1 | $35,000 | $35,000 | $35,000 | $37,000 | $37,000 |
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 | 1,133 | $205,895,000 | $181,000 | $865,000 | $107,000 | $1,126,000 |
| Application Withdrawn By Applicant | 192 | $37,110,000 | $193,000 | $755,000 | $101,000 | $500,000 |
| Application Denied By Financial Institution | 84 | $9,790,000 | $116,000 | $345,000 | $56,000 | $470,000 |
| Application Approved But Not Accepted | 8 | $1,430,000 | $178,000 | $405,000 | $127,000 | $375,000 |
| File Closed For Incompleteness | 3 | $465,000 | $155,000 | $275,000 | $89,000 | $183,000 |
| Loan Purchased By The Institution | 1 | $55,000 | $55,000 | $55,000 | $0 | $0 |
| Preapproval Approved but not Accepted | 1 | $95,000 | $95,000 | $95,000 | $66,000 | $66,000 |
| 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 | 1,338 | $245,050,000 | $183,000 | $865,000 | $106,000 | $1,126,000 |
| Credit History | 34 | $3,720,000 | $109,000 | $255,000 | $62,000 | $310,000 |
| Debt-To-Income Ratio | 30 | $3,900,000 | $130,000 | $345,000 | $45,000 | $120,000 |
| Collateral | 6 | $330,000 | $55,000 | $75,000 | $37,000 | $56,000 |
| Other | 5 | $775,000 | $155,000 | $305,000 | $62,000 | $87,000 |
| Employment History | 5 | $575,000 | $115,000 | $145,000 | $28,000 | $50,000 |
| Unverifiable Information | 3 | $215,000 | $71,000 | $105,000 | $54,000 | $96,000 |
| Credit Application Incomplete | 1 | $275,000 | $275,000 | $275,000 | $470,000 | $470,000 |
| 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 2019 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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with aggregated HMDA statistics today.
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