Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2014
In 2014, Frandsen Bank & Trust of Lonsdale, MN reported 1,144 mortgage applications totaling $157.4 million, down 31% from 2013. The average application was for $137,581, and applicants reported an average income of $79,691. 75% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (229), Duluth, MN-WI (184) and Grand Forks, ND-MN (151) (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 | 2014 2013 2012 2011 2010 2009 2008 2007 2006 |
| Total Number of Mortgage Applications | 1,144 |
| Total Mortgage Loan Application Amount | $157,393,000 |
| Average Mortgage Loan Application Amount | $137,581 |
| Highest Mortgage Loan Application Amount | $2,750,000 |
| Average Applicant Income | $79,691 |
| Highest Applicant Income | $761,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| St. Louis, Minnesota | 144 | $ 16,343,000 | $ 113,493 | $ 72,000 |
| Grand Forks, North Dakota | 91 | $ 13,005,000 | $ 142,912 | $ 78,000 |
| Brown, Minnesota | 64 | $ 6,883,000 | $ 107,546 | $ 79,000 |
| Crow Wing, Minnesota | 62 | $ 10,325,000 | $ 166,532 | $ 83,000 |
| Polk, Minnesota | 60 | $ 7,713,000 | $ 128,550 | $ 86,000 |
| Polk, Wisconsin | 58 | $ 8,262,000 | $ 142,448 | $ 75,000 |
| Rice, Minnesota | 54 | $ 8,448,000 | $ 156,444 | $ 80,000 |
| Le Sueur, Minnesota | 42 | $ 6,480,000 | $ 154,285 | $ 68,000 |
| Carlton, Minnesota | 39 | $ 4,802,000 | $ 123,128 | $ 59,000 |
| Benton, Minnesota | 36 | $ 4,452,000 | $ 123,666 | $ 62,000 |
| Blue Earth, Minnesota | 31 | $ 3,858,000 | $ 124,451 | $ 75,000 |
| Scott, Minnesota | 30 | $ 5,582,000 | $ 186,066 | $ 128,000 |
| Burnett, Wisconsin | 24 | $ 2,902,000 | $ 120,916 | $ 84,000 |
| Isanti, Minnesota | 23 | $ 2,689,000 | $ 116,913 | $ 80,000 |
| Nicollet, Minnesota | 23 | $ 4,229,000 | $ 183,869 | $ 61,000 |
| Hennepin, Minnesota | 22 | $ 3,917,000 | $ 178,045 | $ 96,000 |
| Chisago, Minnesota | 21 | $ 3,486,000 | $ 166,000 | $ 89,000 |
| Mille Lacs, Minnesota | 21 | $ 2,335,000 | $ 111,190 | $ 52,000 |
| Renville, Minnesota | 17 | $ 1,663,000 | $ 97,823 | $ 70,000 |
| Big Stone, Minnesota | 16 | $ 914,000 | $ 57,125 | $ 58,000 |
| Cass, Minnesota | 16 | $ 3,211,000 | $ 200,687 | $ 118,000 |
| Norman, Minnesota | 15 | $ 2,855,000 | $ 190,333 | $ 58,000 |
| Ramsey, Minnesota | 14 | $ 1,967,000 | $ 140,500 | $ 57,000 |
| Washington, Minnesota | 14 | $ 2,427,000 | $ 173,357 | $ 105,000 |
| Pine, Minnesota | 13 | $ 1,695,000 | $ 130,384 | $ 81,000 |
| Anoka, Minnesota | 12 | $ 2,460,000 | $ 205,000 | $ 84,000 |
| Kanabec, Minnesota | 12 | $ 1,293,000 | $ 107,750 | $ 51,000 |
| Marshall, Minnesota | 9 | $ 835,000 | $ 92,777 | $ 61,000 |
| Sibley, Minnesota | 8 | $ 952,000 | $ 119,000 | $ 67,000 |
| Itasca, Minnesota | 7 | $ 612,000 | $ 87,428 | $ 76,000 |
| Morrison, Minnesota | 7 | $ 621,000 | $ 88,714 | $ 79,000 |
| Dakota, Minnesota | 6 | $ 847,000 | $ 141,166 | $ 64,000 |
| McLeod, Minnesota | 6 | $ 765,000 | $ 127,500 | $ 86,000 |
| Stearns, Minnesota | 6 | $ 839,000 | $ 139,833 | $ 112,000 |
| Aitkin, Minnesota | 5 | $ 1,462,000 | $ 292,400 | $ 174,000 |
| Carver, Minnesota | 5 | $ 1,124,000 | $ 224,800 | $ 116,000 |
| Lake, Minnesota | 5 | $ 555,000 | $ 111,000 | $ 143,000 |
| Sherburne, Minnesota | 5 | $ 697,000 | $ 139,400 | $ 85,000 |
| Traill, North Dakota | 5 | $ 341,000 | $ 68,200 | $ 35,000 |
| Otter Tail, Minnesota | 4 | $ 762,000 | $ 190,500 | $ 107,000 |
| Stevens, Minnesota | 4 | $ 712,000 | $ 178,000 | $ 179,000 |
| Beltrami, Minnesota | 3 | $ 188,000 | $ 62,666 | $ 98,000 |
| Clay, Minnesota | 3 | $ 337,000 | $ 112,333 | $ 119,000 |
| Douglas, Minnesota | 3 | $ 796,000 | $ 265,333 | $ 200,000 |
| Mahnomen, Minnesota | 3 | $ 606,000 | $ 202,000 | $ 287,000 |
| Meeker, Minnesota | 3 | $ 392,000 | $ 130,666 | $ 69,000 |
| Olmsted, Minnesota | 3 | $ 363,000 | $ 121,000 | $ 141,000 |
| Wright, Minnesota | 3 | $ 557,000 | $ 185,666 | $ 101,000 |
| Walsh, North Dakota | 3 | $ 260,000 | $ 86,666 | $ 58,000 |
| St. Croix, Wisconsin | 3 | $ 538,000 | $ 179,333 | $ 19,000 |
| Becker, Minnesota | 2 | $ 260,000 | $ 130,000 | $ 152,000 |
| Chippewa, Minnesota | 2 | $ 330,000 | $ 165,000 | $ 129,000 |
| Pope, Minnesota | 2 | $ 91,000 | $ 45,500 | $ 65,000 |
| Steele, Minnesota | 2 | $ 271,000 | $ 135,500 | $ 163,000 |
| Todd, Minnesota | 2 | $ 148,000 | $ 74,000 | $ 48,000 |
| Traverse, Minnesota | 2 | $ 97,000 | $ 48,500 | $ 39,000 |
| Waseca, Minnesota | 2 | $ 265,000 | $ 132,500 | $ 91,000 |
| Cass, North Dakota | 2 | $ 635,000 | $ 317,500 | $ 179,000 |
| Nelson, North Dakota | 2 | $ 103,000 | $ 51,500 | $ 37,000 |
| Pinal, Arizona | 1 | $ 180,000 | $ 180,000 | $ 71,000 |
| Larimer, Colorado | 1 | $ 197,000 | $ 197,000 | $ 389,000 |
| Lake, Florida | 1 | $ 130,000 | $ 130,000 | $ 149,000 |
| Lee, Florida | 1 | $ 206,000 | $ 206,000 | $ 233,000 |
| Will, Illinois | 1 | $ 104,000 | $ 104,000 | $ 26,000 |
| Clearwater, Minnesota | 1 | $ 153,000 | $ 153,000 | $ 71,000 |
| Faribault, Minnesota | 1 | $ 165,000 | $ 165,000 | $ 72,000 |
| Hubbard, Minnesota | 1 | $ 82,000 | $ 82,000 | $ 0 |
| Murray, Minnesota | 1 | $ 130,000 | $ 130,000 | $ 91,000 |
| Pennington, Minnesota | 1 | $ 50,000 | $ 50,000 | $ 118,000 |
| Rock, Minnesota | 1 | $ 160,000 | $ 160,000 | $ 60,000 |
| Roseau, Minnesota | 1 | $ 120,000 | $ 120,000 | $ 195,000 |
| Wabasha, Minnesota | 1 | $ 417,000 | $ 417,000 | $ 140,000 |
| Howell, Missouri | 1 | $ 75,000 | $ 75,000 | $ 46,000 |
| Ramsey, North Dakota | 1 | $ 133,000 | $ 133,000 | $ 138,000 |
| Richland, North Dakota | 1 | $ 93,000 | $ 93,000 | $ 73,000 |
| Brown, South Dakota | 1 | $ 75,000 | $ 75,000 | $ 30,000 |
| Grant, South Dakota | 1 | $ 55,000 | $ 55,000 | $ 50,000 |
| Marshall, South Dakota | 1 | $ 134,000 | $ 134,000 | $ 0 |
| Barron, Wisconsin | 1 | $ 132,000 | $ 132,000 | $ 99,000 |
| Douglas, Wisconsin | 1 | $ 194,000 | $ 194,000 | $ 230,000 |
| Sawyer, Wisconsin | 1 | $ 417,000 | $ 417,000 | $ 0 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2014
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 | 687 | $100,501,000 | $146,000 | $1,495,000 | $83,000 | $761,000 |
| Refinancing | 375 | $51,221,000 | $136,000 | $2,750,000 | $74,000 | $400,000 |
| Home Improvement | 82 | $5,671,000 | $69,000 | $381,000 | $78,000 | $367,000 |
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 | 999 | $133,878,000 | $134,000 | $1,500,000 | $83,000 | $761,000 |
| Not Provided | 86 | $10,718,000 | $124,000 | $500,000 | $82,000 | $370,000 |
| Not applicable | 41 | $11,052,000 | $269,000 | $2,750,000 | $0 | $0 |
| Hispanic | 9 | $672,000 | $74,000 | $130,000 | $40,000 | $86,000 |
| Asian | 5 | $424,000 | $84,000 | $182,000 | $69,000 | $80,000 |
| American Indian or Alaskan Native | 2 | $198,000 | $99,000 | $101,000 | $35,000 | $41,000 |
| Black or African American | 1 | $211,000 | $211,000 | $211,000 | $57,000 | $57,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $240,000 | $240,000 | $240,000 | $127,000 | $127,000 |
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) | 1,058 | $147,542,000 | $139,000 | $2,750,000 | $82,000 | $761,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 74 | $7,712,000 | $104,000 | $204,000 | $44,000 | $78,000 |
| VA-guaranteed (Veterans Administration) | 7 | $1,248,000 | $178,000 | $240,000 | $72,000 | $147,000 |
| FHA-insured (Federal Housing Administration) | 5 | $891,000 | $178,000 | $300,000 | $65,000 | $91,000 |
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 | 859 | $117,498,000 | $136,000 | $1,500,000 | $85,000 | $761,000 |
| Application Denied By Financial Institution | 129 | $14,561,000 | $112,000 | $417,000 | $59,000 | $327,000 |
| Application Withdrawn By Applicant | 79 | $14,924,000 | $188,000 | $2,750,000 | $68,000 | $207,000 |
| Application Approved But Not Accepted | 50 | $6,904,000 | $138,000 | $500,000 | $76,000 | $238,000 |
| Preapproval Denied by Financial Institution | 21 | $2,434,000 | $115,000 | $300,000 | $46,000 | $118,000 |
| Loan Purchased By The Institution | 5 | $622,000 | $124,000 | $275,000 | $0 | $0 |
| File Closed For Incompleteness | 1 | $450,000 | $450,000 | $450,000 | $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 | 67 | $6,126,000 | $91,000 | $220,000 | $51,000 | $125,000 |
| Debt-To-Income Ratio | 48 | $6,517,000 | $135,000 | $417,000 | $56,000 | $233,000 |
| Collateral | 20 | $2,399,000 | $119,000 | $322,000 | $80,000 | $327,000 |
| Employment History | 10 | $1,481,000 | $148,000 | $250,000 | $54,000 | $118,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $167,000 | $83,000 | $124,000 | $44,000 | $59,000 |
| Other | 2 | $155,000 | $77,000 | $95,000 | $91,000 | $92,000 |
| Credit Application Incomplete | 1 | $150,000 | $150,000 | $150,000 | $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 2014 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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