Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2010
In 2010, Frandsen Bank & Trust of Lonsdale, MN reported 1,018 mortgage applications totaling $126.6 million, up 93% from 2009. The average application was for $124,379, and applicants reported an average income of $82,650. 86% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Grand Forks, ND-MN (233), Mankato-North Mankato, MN (140) and Minneapolis-St. Paul-Bloomington, MN-WI (68) (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 | 1,018 |
| Total Mortgage Loan Application Amount | $126,618,000 |
| Average Mortgage Loan Application Amount | $124,379 |
| Highest Mortgage Loan Application Amount | $2,634,000 |
| Average Applicant Income | $82,650 |
| Highest Applicant Income | $2,695,000 |
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(HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Brown, Minnesota | 198 | $ 18,409,000 | $ 92,974 | $ 61,000 |
| Grand Forks, North Dakota | 139 | $ 15,193,000 | $ 109,302 | $ 87,000 |
| Polk, Minnesota | 94 | $ 11,681,000 | $ 124,265 | $ 90,000 |
| Nicollet, Minnesota | 75 | $ 11,287,000 | $ 150,493 | $ 72,000 |
| Blue Earth, Minnesota | 65 | $ 7,598,000 | $ 116,892 | $ 78,000 |
| Crow Wing, Minnesota | 60 | $ 12,119,000 | $ 201,983 | $ 150,000 |
| Le Sueur, Minnesota | 59 | $ 8,122,000 | $ 137,661 | $ 76,000 |
| Rice, Minnesota | 51 | $ 5,810,000 | $ 113,921 | $ 70,000 |
| Benton, Minnesota | 31 | $ 3,240,000 | $ 104,516 | $ 75,000 |
| Renville, Minnesota | 31 | $ 2,128,000 | $ 68,645 | $ 51,000 |
| Scott, Minnesota | 29 | $ 4,486,000 | $ 154,689 | $ 84,000 |
| Cass, Minnesota | 24 | $ 8,018,000 | $ 334,083 | $ 233,000 |
| Marshall, Minnesota | 23 | $ 1,446,000 | $ 62,869 | $ 63,000 |
| Dakota, Minnesota | 12 | $ 1,830,000 | $ 152,500 | $ 66,000 |
| Norman, Minnesota | 12 | $ 922,000 | $ 76,833 | $ 76,000 |
| Sibley, Minnesota | 8 | $ 533,000 | $ 66,625 | $ 50,000 |
| Becker, Minnesota | 7 | $ 1,036,000 | $ 148,000 | $ 77,000 |
| Anoka, Minnesota | 6 | $ 1,170,000 | $ 195,000 | $ 115,000 |
| Hennepin, Minnesota | 6 | $ 957,000 | $ 159,500 | $ 92,000 |
| Faribault, Minnesota | 5 | $ 450,000 | $ 90,000 | $ 38,000 |
| Clay, Minnesota | 4 | $ 444,000 | $ 111,000 | $ 53,000 |
| Douglas, Minnesota | 4 | $ 719,000 | $ 179,750 | $ 141,000 |
| Kandiyohi, Minnesota | 4 | $ 759,000 | $ 189,750 | $ 80,000 |
| Ramsey, Minnesota | 4 | $ 256,000 | $ 64,000 | $ 100,000 |
| Sherburne, Minnesota | 4 | $ 692,000 | $ 173,000 | $ 31,000 |
| Washington, Minnesota | 4 | $ 762,000 | $ 190,500 | $ 89,000 |
| Beltrami, Minnesota | 3 | $ 566,000 | $ 188,666 | $ 93,000 |
| Goodhue, Minnesota | 3 | $ 524,000 | $ 174,666 | $ 101,000 |
| Mille Lacs, Minnesota | 3 | $ 263,000 | $ 87,666 | $ 63,000 |
| Morrison, Minnesota | 3 | $ 183,000 | $ 61,000 | $ 53,000 |
| Redwood, Minnesota | 3 | $ 113,000 | $ 37,666 | $ 42,000 |
| Walsh, North Dakota | 3 | $ 67,000 | $ 22,333 | $ 78,000 |
| Carver, Minnesota | 2 | $ 475,000 | $ 237,500 | $ 125,000 |
| Hubbard, Minnesota | 2 | $ 413,000 | $ 206,500 | $ 93,000 |
| Lake of the Woods, Minnesota | 2 | $ 192,000 | $ 96,000 | $ 86,000 |
| Mahnomen, Minnesota | 2 | $ 160,000 | $ 80,000 | $ 68,000 |
| Waseca, Minnesota | 2 | $ 192,000 | $ 96,000 | $ 98,000 |
| Watonwan, Minnesota | 2 | $ 90,000 | $ 45,000 | $ 45,000 |
| Pinal, Arizona | 1 | $ 124,000 | $ 124,000 | $ 149,000 |
| Maui, Hawaii | 1 | $ 180,000 | $ 180,000 | $ 115,000 |
| Fremont, Idaho | 1 | $ 269,000 | $ 269,000 | $ 526,000 |
| Aitkin, Minnesota | 1 | $ 151,000 | $ 151,000 | $ 147,000 |
| Chisago, Minnesota | 1 | $ 184,000 | $ 184,000 | $ 113,000 |
| Itasca, Minnesota | 1 | $ 168,000 | $ 168,000 | $ 81,000 |
| Koochiching, Minnesota | 1 | $ 120,000 | $ 120,000 | $ 83,000 |
| Meeker, Minnesota | 1 | $ 52,000 | $ 52,000 | $ 110,000 |
| Olmsted, Minnesota | 1 | $ 11,000 | $ 11,000 | $ 76,000 |
| Otter Tail, Minnesota | 1 | $ 80,000 | $ 80,000 | $ 63,000 |
| Pennington, Minnesota | 1 | $ 85,000 | $ 85,000 | $ 23,000 |
| Roseau, Minnesota | 1 | $ 77,000 | $ 77,000 | $ 38,000 |
| St. Louis, Minnesota | 1 | $ 116,000 | $ 116,000 | $ 121,000 |
| Stearns, Minnesota | 1 | $ 97,000 | $ 97,000 | $ 37,000 |
| Yellow Medicine, Minnesota | 1 | $ 153,000 | $ 153,000 | $ 61,000 |
| Benson, North Dakota | 1 | $ 15,000 | $ 15,000 | $ 119,000 |
| Nelson, North Dakota | 1 | $ 60,000 | $ 60,000 | $ 38,000 |
| Traill, North Dakota | 1 | $ 31,000 | $ 31,000 | $ 43,000 |
| Ashland, Wisconsin | 1 | $ 143,000 | $ 143,000 | $ 0 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2010
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 | 614 | $87,549,000 | $142,000 | $2,634,000 | $89,000 | $2,695,000 |
| Home Purchase | 286 | $35,817,000 | $125,000 | $800,000 | $73,000 | $754,000 |
| Home Improvement | 118 | $3,252,000 | $27,000 | $308,000 | $73,000 | $924,000 |
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 | 964 | $115,669,000 | $119,000 | $1,900,000 | $83,000 | $2,695,000 |
| Not applicable | 20 | $4,921,000 | $246,000 | $2,600,000 | $0 | $0 |
| Not Provided | 19 | $4,966,000 | $261,000 | $2,634,000 | $187,000 | $931,000 |
| Hispanic | 9 | $448,000 | $49,000 | $147,000 | $47,000 | $163,000 |
| Asian | 4 | $498,000 | $124,000 | $188,000 | $77,000 | $152,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $105,000 | $105,000 | $105,000 | $39,000 | $39,000 |
| American Indian or Alaskan Native | 1 | $11,000 | $11,000 | $11,000 | $23,000 | $23,000 |
| Black or African American | 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) | 967 | $120,567,000 | $124,000 | $2,634,000 | $85,000 | $2,695,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 42 | $4,773,000 | $113,000 | $245,000 | $45,000 | $98,000 |
| FHA-insured (Federal Housing Administration) | 8 | $1,228,000 | $153,000 | $206,000 | $48,000 | $68,000 |
| VA-guaranteed (Veterans Administration) | 1 | $50,000 | $50,000 | $50,000 | $32,000 | $32,000 |
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 | 872 | $105,799,000 | $121,000 | $2,600,000 | $85,000 | $2,695,000 |
| Application Denied By Financial Institution | 84 | $9,442,000 | $112,000 | $390,000 | $53,000 | $309,000 |
| Application Approved But Not Accepted | 30 | $3,762,000 | $125,000 | $393,000 | $96,000 | $401,000 |
| Application Withdrawn By Applicant | 25 | $6,579,000 | $263,000 | $2,634,000 | $111,000 | $778,000 |
| Preapproval Approved but not Accepted | 4 | $582,000 | $145,000 | $206,000 | $49,000 | $68,000 |
| Preapproval Denied by Financial Institution | 2 | $256,000 | $128,000 | $206,000 | $41,000 | $50,000 |
| File Closed For Incompleteness | 1 | $198,000 | $198,000 | $198,000 | $50,000 | $50,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 30 | $3,473,000 | $115,000 | $355,000 | $46,000 | $126,000 |
| Credit History | 27 | $2,111,000 | $78,000 | $284,000 | $40,000 | $92,000 |
| Collateral | 19 | $3,078,000 | $162,000 | $390,000 | $82,000 | $309,000 |
| Other | 4 | $246,000 | $61,000 | $180,000 | $63,000 | $104,000 |
| Unverifiable Information | 1 | $220,000 | $220,000 | $220,000 | $19,000 | $19,000 |
| Credit Application Incomplete | 1 | $175,000 | $175,000 | $175,000 | $80,000 | $80,000 |
| Employment History | 1 | $12,000 | $12,000 | $12,000 | $34,000 | $34,000 |
| 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 2010 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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